Fleur Anderson in The
Fin looks at the slowing of employment growth in
Australia: “A total of 158,900 jobs
was created between January and December last year but this was about 100,000
fewer than in 2004.”

“Some economists have
predicted a further weakening in employment growth, even though several sectors
are enduring a record shortage of skilled workers.”

The Treasurer’s deep
reluctance to undertake a big reform of income tax is discussed by Laura
Tingle: “Such is the frenzy of expectation these days that not only will tax
cuts come around every year in the budget, but that the government – and
Costello in particular – will have little choice about being railroaded into
major restructuring of the personal income tax scales in 2006.”

The PM has been
praised for his refusal to take action to reduce greenhouse gas emissions that
will damage the prospects for economic growth. Samantha Maiden reports comments by
Peabody Energy chairman Irl F.Engelhardt: “It was fascinating to meet with the
Prime Minister because he was very concerned that we solve these issues but that
we do it in a way that preserves the Australian economy and ensures its people
don’t lose their jobs or have a lower standard of living.”

It’s business as usual
in the land of Oz – with a pragmatic government trying to keep the economic show
on the road in the full knowledge that the current resource boom will not last
forever.

Read on at Henry
Thornton…