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The 2008/09 Federal Budget handed down on 13 May contains a mix of spending restraint and tax integrity measures that are designed to rein in inflation and keep a lid on interest rates. The bottom line is a projected budget surplusof $21.7bn in the 2008/09 financial year with modest economic growth of 2.75%. The package features personal income tax cuts, a reduction in the Medicare Levy Surcharge, higher infrastructure spending and a range of tax initiatives aimed at low- and middle-income earners. More

Company earnings solid but losing momentum

Buoyed once again by the resources sector, the latest company reporting season has produced another crop of strong earnings results. According to our sample of 191 companies, average sales growth was 14.2%, net profits were up 9.7% on a year ago and earnings per share were 6.8% higher. That's not as strong as the last five years but better than most analysts and investors were expecting.More

Investment property numbers don't add up

Borrowing to invest in residential property has been one of the most popular and effective ways for retail investors to build wealth. By any yardstick, its track record is outstanding with gross total returns averaging 14.1% per annum since 1980. More

World price/earnings ratios and yields

Australia is currently ranked twenty-fifth on our list of major market price/earnings (P/E) ratios. According to our November 2006 survey, the average world P/E ratio is now 16.6 times. That's up from 15.9 in our May survey but is not dangerously high by historical standards. More

Global funds buy into Europe and Asia

The latest Wren Research Survey of global equity funds shows that managers are still wary of the U.S. share market and are placing their bets on Europe and Asia. The U.K. and Japan are continuing to lose favour. More