Finance, Banking, Monetary Systems

Our research explains and advocates why a sound financial and monetary system is critical for economic prosperity.



The Major Bank Levy: We’re all going to be hit
Michael Potter
19 June 2017 | RR29

The major bank levy was proposed in the 2017–18 Budget. The levy has numerous flaws including: The costs of the levy will likely be passed on as higher interest rates for mortgages and business loans, harming households and business investment which is very weak. The…

Principles and recommendations for tax reform - CIS submission National Reform Summit
Simon Cowan, Robert Carling, Henry Ergas
27 August 2015 | CIS Submission

The slant towards cutting taxes before 2010 was welcome, but for such an approach to return in the foreseeable future, the growth of government spending will have to be curbed and the size of government as a share of GDP reduced. Although tax reform may…

Submission to the National Commission of Audit
Alexander Philipatos, Jennifer Buckingham, Jeremy Sammut, Robert Carling, Simon Cowan, Stephen Kirchner, Trisha Jha
01 April 2014 | T30.08

The federal government’s Commission of Audit (CoA) was established in 2013 to review the performance and role of government. This publication is an edited version of the CIS submission to the CoA listing practical solutions aimed at cutting government expenditure. The government should adopt a…

TARGET30: Reducing the burden for future generations
David Murray, Maurice Newman, Simon Cowan
01 July 2013 | PF25

TARGET30 is a campaign promoting smaller government and cutting government spending to less than 30% of GDP in the next 10 years. This collection of speeches presented at the campaign’s launch focuses on ensuring that the crucial services Australians need are delivered efficiently and effectively…

Australia’s Future Fiscal Shock
Robert Carling
28 September 2012 | IA134

Australia’s Future Fiscal Shock. Robert Carling is a Senior Fellow at the Centre for Independent Studies.

Media & Commentary

Royal commission will be in vain
Robert Carling
01 December 2017 | IDEAS@THECENTRE

Banking Royal Commission may turn out to be not only the first to be deemed unnecessary by the government establishing it, but also the first to find very little at…

Free market strategy to solve societal problems
Josephine Cashman
20 October 2017 | Ideas@TheCentre

People seem to have lost faith in both the free market and in government. Capitalism and investing are now pejorative terms, while the government is increasingly seen as unable to…

Turnbull laid the groundwork for SA’s bank levy, but he should now think about withholding GST from the state
Robert Carling

The South Australian state budget tabled yesterday provides further confirmation that Australian fiscal policy is on a slippery slope to ruin. In particular, the new tax on major bank liabilities…

New record set for tax hike
Michael Potter

A9X9B5 Tax Rate button on calculator This must be a new record for the speed of a tax hike. On Monday 19 June, the federal parliament passed legislation implementing the…

Major Bank Levy a trickery lesson
Michael Potter
23 June 2017 | Ideas@TheCentre

There have been plenty of attempts to confuse the public over who pays the Major Bank Levy. While it is supposedly a tax on the five major banks of about…