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The Latest Breaking News from Mathias Cormann

Report: Disruption of Mideast energy supplies into next year would slam global economy

Prolonged disruption of energy supplies from the Middle East that lasts into next year would deal a severe blow to the global economy

The Independent UK

Global economic body weighs in on Australian rate rises

The OECD expects Australia's economic growth rate to slow to 1.8 per cent in 2027, which might require the Reserve Bank to lower interest rates.

AAP

Economic outlook at risk of further deterioration, OECD says

OECD Secretary General Mathias Cormann stated that the ongoing Middle East conflict is worsening global economic risks, exerting downward pressure on growth and upward pressure on inflation. The organization will revise its economic forecasts next month, acknowledging the immediate challenges posed by rising oil prices to finance officials at a…

The Economic Times

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Europeans 'would do well listening to Mario Draghi,' OECD chief tells Euronews

OECD chief says appetite for multilateral trade remains strong despite tariffs. Cormann says Europe should take note of recommendations laid out by former ECB president Mario Draghi to maintain 'success story' of the EU.

Euronews

Newsletter: 'Super Mario' returns at another moment of European economic reckoning

Also in this newsletter: why European leaders are flocking to Beijing amid transatlantic tensions, the latest on Ukraine peace efforts, and the French budget is adopted after months of political gridlock.

Euronews

OECD calls on Australia to raise GST and increase affordable housing amid budget deficit

Survey by organisation, which is led by former Liberal senator Mathias Cormann, says economy is ‘now normalising’, after post-pandemic struggle

The Guardian - AU

OECD warns Reeves higher taxes and spending restraint will limit consumer expenditure

UK economy will grow faster than France, Germany and Italy but slower than US next year, report predicts

The Guardian - UK

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Global expat tells Australia to lift its economic game

Regulation must be slashed and company tax rates lowered for the nation to boost low productivity growth, the Australian head of a global economic body warns.

AAP

Migration tide turns as rich countries see slowdown and shifting flows

OECD nations saw a sharp drop in work-related migration after several years of rapid growth as rich nations scrambled to fill labour shortages.

Euronews

International aid fell in 2024 for first time in five years – and is expected to get worse

Foreign aid spending by 24 countries, including the US, UK and European Union, fell by more than $15bn last year – before the impact of huge cuts by Donald Trump have taken effect. Nick Ferris reports

The Independent UK

OECD Lifts 2024 Growth Forecasts, Driven By US

The OECD raised its global economic growth forecast for 2024 on Thursday, driven by strong performances in the United States and emerging countries while Europe lags behind.

International Business Times

UK spends more on health but comes up short compared with other countries – OECD

The UK has fewer MRI, CT and PET scanners compared with most of the other countries examined in the OECD’s Health at a Glance report.

The Independent UK

War of words erupts after WA Premier’s hot mic blunder

A war of words has erupted between the WA Premier and a federal opposition frontbencher after an embarrassing hot mic episode.

The New Daily

World doesn't need US-China 'chest-beating': Forrest

The chief executive of Fortescue Metals Group has told a business summit that the "chest-beating" between the US and China doesn't serve the world.

AAP

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The New Daily

Veteran reveals Lidia Thorpe’s first mistake before she quit

As Lidia Thorpe prepared for political life after the Greens and as a Senate cross-bencher, veterans have questioned whether she can cut it as an independent.

Reuters

Ukraine takes first step towards joining OECD economic group

Ukraine took a first step in the process towards joining the Organisation for Economic Cooperation and Development on Wednesday after the OECD said it could be a prospective member.

The Guardian - AU

Banks raise interest rates in response to RBA – as it happened

This blog is now closed

The Conversation

Orthodox thinking won't cut it: why Mathias Cormann's leadership of the OECD has economists worried

In June 2007, Jean-Philippe Cotis, the chief economist of the Organisation for Economic Cooperation and Development, declared that 2008 was going to be a great year.

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AAP

Multinational tax reform gets under way

The Albanese government has opened consultations on international corporate tax reforms to close tax loopholes exploited by multinationals.

The Independent UK

OECD: War in Ukraine to drag on global economy into 2023

The Organization for Economic Cooperation and Development says Russia’s war in Ukraine and the lingering effects of the COVID-19 pandemic are dragging down global economic growth more than expected and driving up inflation that will stay high into next year

The Independent UK

Australia may launch inquiry into Scott Morrison holding secret cabinet roles

Former PM has said his actions were critical to ‘ensuring continuity and effective operation of government during crisis period’

The Guardian - AU

The Australian’s buried scoop on Morrison raises the question: who knew what, when?

Oz journalists criticised for sitting on dynamite revelations of grab for power for two years. Plus: journalism’s gender gap

The Guardian - AU

Ten glaring inconsistencies in Scott Morrison’s bamboozling press conference

While attempting to explain why he appointed himself to five ministries in secret, the former PM raised more questions than answers

ABC News

Revelations of secret portfolios held by Scott Morrison have dominated headlines this week. What happened, when and who knew about it?

The former prime minister took on the health portfolio in secret in the early days of the COVID-19 pandemic, before appointing himself to four more ministries over the next year. Why did he do it and who knew?

ABC News

What were the other portfolios Scott Morrison took on, and why did he take them?

Scott Morrison secretly gave himself several powers, and admits he used them in at least one instance. What were the jobs the former prime minister appointed himself to?

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