Essay about Australian Tariffs - 661 Words

Should Australia reintroduce tariffs for the car industry? Australia’s automotive industry is a significant contributor and major employer to the national economy. But the economy is in crisis. The greatest problem for the automotive industry is the mindset of the cabinets. Cabinets became downright apoplectic and argue that tax payers should not support a failing industry, and they vehemently combat the automotive industry policy as a matter of principle. The truth is, Australia cannot afford losing its car industry. Several academic investigations have been conducted about how this industry contributes to national economy, and the answer couldn’t be clearer: it would cost Australia more losing its automotive industry rather than†¦show more content†¦Regarding subsidies, the Australian government applies rates on several ambits, like home care, oxygen and enteral feeding or residential respite – and this is only about healthcare. To be honest, Australia has a balanced taxing system, with rates that are internationally lower than other countries’ rates; besides, there exists a real need for a tax system for the government to have enough resources to ensure a decent lifestyle for its citizens and to provide them with the basic human needs. Leaving aside rates like those meant to regulate industries like the automotive one, it seems that Australia has a fair economic system, not meant for crippling the citiz en’s economy, but rather to ensure that all the people’s resources paid in the form in taxes contribute to the general wellbeing. Who do you think are the winners / losers from such protectionist measures? Ultimately, the citizens are the most benefited or prejudiced by these taxes and subsidies. As it has been said before, Australia’s rates and tariffs are significantly lower when compared to those that other countries apply; and the income that results from these said payments should be applied on new infrastructure, on attending the people’s needs, and on ensuring that unforeseen disasters will be properly faced and answered. This is the ideal system of taxing and applying tariffs: for the country’s money to serve the country’s needs. Still, applying additional taxes to industries orShow MoreRelatedProtections Against Dumping Products676 Words   |  3 Pagesimporting and exporting which would help advance economic growth and development. However, in spite of these gains, every country tries to protect certain industries from entering into their markets through the placement of legal restrictions like tariffs/quotas so as to reduce the threat of external competition and protect domestic employment. This is known as protectionism. Similarly, in this commentary, the economies of China and Australia are spoken about. Information in the article states thatRead MoreInternational Trade between Australia and Japan579 Words   |  2 Pagescommunication and exchange of product and information has boosted economic growth ( Investopedia, 2014). This essay is an investigation and analysis of a international trade between Australia and Japan. It will explain the events and discuss impact on Australian economic growth. The article is about an international trade partnership set up by Australia and Japan. The aim of this partnership is to help stimulus the economic growth of two counties under the privileged import policy. 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A tariff is also known as a tax on imports . A quota is a limit made on a particular item that is being shipped. This can be made voluntarily or enforced by law. The use of tariffs and quotas are to ensure that local and domestic competition doesn’tRead MoreRegional Development and Regional Blocks1884 Words   |  8 PagesAsian Nations (ASEAN) was established on 8 August 1967 in Bangkok, Thailand ASEAN Declaration Founding Fathers of ASEAN (5 countries) Today – 10 Member States NAFTA The North American market increased, create a free trade, elimination of tariff barriers North American free Trade Agreement (NAFTA)was formed on 1 January 1994 Richest market in the world – Canada, United States, Mexico MERCOSUR Countries common values of economic development, the fight against poverty, sustainable developmentRead MoreTat The Trona Capitol Of The World773 Words   |  4 PagesItaly are customers ofTata. They have tariffs on their goods that come into the country. 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As economic literature has continually developed over time, the creation of a more open international business market has become relevant for all governments across