Editor's Choice
ASX to rejig corporate governance framework
|The ASX is looking to modernise eight core corporate governance principles, which include rejigging executive remuneration and board composition, to make them fit-for-purpose in the current environment in which ASX-listed entities operate in.
Rest calls for better alignment in default options
|Rest conducted a survey addressing concerns around the ambiguity of standardised investment options and product labels.
KPMG finds new chief executive
|The embattled consulting firm has named a new chief executive, choosing to promote from within after former chief executive Andrew Yates stepped down in June in the wake of the whistleblower scandal.
HSBC appoints structured finance chief
|HSBC Australia and New Zealand have appointed a former Deutsche Bank executive as head of structured finance.
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Featured Profile
Blake Briggs
CHIEF EXECUTIVE OFFICER
FINANCIAL SERVICES COUNCIL
FINANCIAL SERVICES COUNCIL
Since becoming chief executive, Blake Briggs has renewed the Financial Services Council's influence, expanded the membership base, and strengthened its policy and advocacy credentials. Karren Vergara writes.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
Joe Hockey is going on about ways to increase tax revenue, but in one foul swoop the John Towbridge report has just handed a massive windfall to the high revenue, low profit, low income, and low tax paying corporates(banks & industry funds).
The government will now lose billions in revenue from the small business that will be wiped out by this slash and burn exercise run by the banks and industry funds against their competitors. Again Joe Hockey fails to protect small business owners, and inadvertently has damaged the countries future tax take in the process.
CBA, NAB, Suncorp, and Industry fund bosses are frothing at the mouth and rubbing their hands together with this latest report from John Trowbridge. It's one of the biggest windfalls these corporates have received in years. With all these companies ramping up 'direct insurance business models' and 'offshore call centres' it must feel like Christmas has come early for them.
It seems that the government won't be happy until we are all working as highly educated 'call centre workers' or as 'check-out operators'. What fools our government representatives are.
They are all pandering to the wrong people. The Corporates don't pay tax or create more jobs. They decrease jobs (offshoring, automation), and minimise their tax. It seems the federal government sees Utopia as a McDonalds & Subway on every street corner, and endless suburbs built around our new churches(i.e. Westfields, Woolies & Coles). What a boring country we have become. We are almost a cardboard cut-out now of the U.S. heading for the same problems they have.
As for the ACCC, who are these people? I think we need a new 'Anti-competition' watchdog. One that actually isn't in the pockets of the corporates and is actually awake.
Joe Hockey show small business that you aren't corrupted by these 'corporates'. Stand up for the small business owner.
Have you forgotten where you came from?