Question:1 Outline a microeconomic reform issue that is relevant to the Australian economy and how...

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Question:1 Outline a microeconomic reform issue that is relevant to the Australian economy and how successful do you think these reform measures were and say why referring to some data or research that has been performed?

Robert · Accepted Answer

Australia has been almost immune from the financial meltdown of the 2008-09on the back of a resources boom. Its rich natural resources have been in demand from the emerging nations, especially China. This has led to a rise in exports that have allowed the Aun economy to grow at modest rates despite the world economy being under pressure from the weaknesses in US. 
The rise in mining sectors prompted the proposed imposition of the RSPT- Resource Super Profits Tax on mining sectors at a rate of flat 40% by Australia's former prime minister, Kevin Rudd,. This was done so that the benefits of a rapidly growing sector could be extended to the non mining sectors. This tax was opposed vehemently as it was seen as stifling the growth of these sectors and reduced investments in this promising sector. Recently this tax has been replaced by the Mineral Resource Rent Tax (MRRT) by the new Prime Minister Julia Gillard.  Under the new tax,

Question:1 Outline a microeconomic reform issue that is relevant to the Australian economy and how successful do you think these reform measures were and say why referring to some data or research...

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