Makhlouf gets credit for his promotion of well-being – but what has happened to Treasury’s well-being?

Ireland has appointed the head of New Zealand’s Treasury department, Gabriel Makhlouf, as the next governor of its central bank.  He succeeds Philip Lane, who is moving to Frankfurt to join the executive board of the European Central Bank as its chief economist.

Confirming Makhlouf’s appointment to the Central Bank of Ireland, Irish finance minister Paschal Donohoe said:

“Gabriel has demonstrated his broad and detailed knowledge of economics, financial markets, monetary policy and fiscal policy, and has the experience of leading a large and complex public service organisation of 10,000 people.”

Before heading New Zealand’s treasury, Makhlouf was chair of the OECD committee on fiscal affairs, the world’s leading tax rule-making body.

According to the Financial Times, this is a priority area for Ireland in light of moves to overhaul global corporate tax rules.

In this country, in its report on the appointment, Stuff said Makhlouf is credited with introducing well-being measures into government Budgets. Continue reading “Makhlouf gets credit for his promotion of well-being – but what has happened to Treasury’s well-being?”

Capital gains: the taxing task of balancing economic and political considerations

 So  will  Sir Michael Cullen’s  Tax Working Group in its interim report due out soon  propose  the government  implements  a  capital gains tax?

When  the  TWG  was set up most people  believed  its main purpose  was to  design  a  broad-based capital  gains  tax,   not  just to capture  a new source of revenue  but  to  make the tax system  fairer and reduce  inequalities.

But a report in Stuff   this week  speculated the  TWG has  stopped short of recommending a broad-based capital gains tax. Continue reading “Capital gains: the taxing task of balancing economic and political considerations”