Thu, 7th Mar 2024

In this week's Financial Services Online podcast, Paige Estritori discusses key financial issues in Australia. Amid the national housing crisis, the Green Party's proposal to amend negative gearing and capital gains tax policies for affordable housing sparks controversy. The Australian Securities and Investments Commission's effort against digital fraud is highlighted, with over 3500 online investment scams shut down, imposing nearly $60 million in civil penalties. The economic forecast suggests a potential downturn or a recession due to signs of employment decline and weak investment, despite a slight increase in GDP. Contrasting the gloom, electric vehicle sales are ramping up, accounting for nearly 10% of the total market, with Tesla's Model 3 making promising strides. However, the New Vehicle Efficiency Standard will face the challenge of reducing emissions in a utility vehicle dominated landscape.