ABC Newcastle Mornings – roundtable kick-off
Yesterday on ABC Newcastle Mornings with Paul Turton, I shared some thoughts on the roundtable convened by Treasurer Jim Chalmers in Canberra. I discussed the widening wealth gap in Australia and how capitalism, without proper oversight, often concentrates wealth in the hands of a few. Left unchecked, this can destabilise societies and fail to account for environmental costs such as resource depletion and pollution.
We also explored the economics of natural resources, noting that while mining profits accrue to a small group of beneficiaries, the resources themselves belong to the Commonwealth and should be managed for the benefit of all Australians.
On tax reform, I highlighted that while some argue for measures like a wealth or inheritance tax, business is more likely to push for reduced regulatory burdens, faster project approvals, lower company tax rates, and stronger research and development (R&D) incentives. Ultimately, while this roundtable generates debate, competing vested interests may stall meaningful reform.
Tune in from 34:00 to catch the conversation: ABC Newcastle Mornings.
Roger Montgomery is the Founder and Chairman of Montgomery Investment Management. Roger has over three decades of experience in funds management and related activities, including equities analysis, equity and derivatives strategy, trading and stockbroking. Prior to establishing Montgomery, Roger held positions at Ord Minnett Jardine Fleming, BT (Australia) Limited and Merrill Lynch.
He is also author of best-selling investment guide-book for the stock market, Value.able – how to value the best stocks and buy them for less than they are worth.
Roger appears regularly on television and radio, and in the press, including ABC radio and TV, The Australian and Ausbiz. View upcoming media appearances.
This post was contributed by a representative of Montgomery Investment Management Pty Limited (AFSL No. 354564). The principal purpose of this post is to provide factual information and not provide financial product advice. Additionally, the information provided is not intended to provide any recommendation or opinion about any financial product. Any commentary and statements of opinion however may contain general advice only that is prepared without taking into account your personal objectives, financial circumstances or needs. Because of this, before acting on any of the information provided, you should always consider its appropriateness in light of your personal objectives, financial circumstances and needs and should consider seeking independent advice from a financial advisor if necessary before making any decisions. This post specifically excludes personal advice.
