Frequent flyers should be concerned about the Reserve Bank of Australia’s proposed changes to interchange fee regulation that specifically targets credit cards linked to rewards programs.
Prime Minister Malcolm Turnbull’s innovation strategy, released last year, in which he declared that “we have to have an ideas boom, not just a resources boom”, was somewhat light on detail when it comes to promoting innovation where it is most sorely needed – in government itself.
Last week Treasurer Scott Morrison decided to block the acquisition of S. Kidman and Co. Limited because it would be “contrary to the national interest”. Kidman has 10 cattle stations across South Australia, Western Australia, the Northern Territory and Queensland comprising over 100,000 square kilometres of land.
Labor’s claim that proposed changes to coastal shipping laws are “Workchoices on Water” is classic overreach. It is also a signal that the ALP continues to have its economic policy dictated to by its protectionist and xenophobic union paymasters.