澳洲新闻 (ABC新闻快递) 2015-04-19

 The Australian share market posted sharp falls weighed down by banks and mining stocks. The All Ords and the ASX 200 Index both lost 1.2%. The smaller oil producers were among the best performers. Iron Ore miners like Fortescue slumped¹. Nab was the worst of the big four banks. Telstra shed over 1%. Across the region, Japan’s Nikkei is pointing down. Markets in China continued to rise. The Australian dollar is a little lower against weakening greenback. 

 

There’s been no agreement on changes to the GST carve up at the COAG meeting. Tax reform is a crucial part of the budget repair process. Former RBA board member Professor Warwick McKibbin says the best approach would be to broaden the reach of the consumption tax and reduce income tax. 

 

“There’s a case to be made in the comprehensive tax review for the base, for attempts that rate to be much higher and attempts that if the offset² is to reduce income taxes and very highly distorting taxes, if the offset is to take the revenue and spend on a whole bunch of inefficient³ spending side programs, and again, there’s no base for raising the GST.”

 

Rio Tinto executives have told shareholders⁴ in London the firm strategy that helps drive iron ore price sharply lower is likely to continue. The AGM was held with the key iron ore price sitting at 50 US dollars a ton. Rio Tinto’s chief executive Sam Walsh told the AGM the global iron ore market is in transition with high-cost players being forced out.

1 slumped   

大幅度下降，暴跌( slump的过去式和过去分词 )； 沉重或突然地落下[倒下]

参考例句：

• Sales have slumped this year. 今年销售量锐减。
• The driver was slumped exhausted over the wheel. 司机伏在方向盘上，疲惫得睡着了。

2 offset   

n.分支，补偿；v.抵消，补偿

参考例句：

• Their wage increases would be offset by higher prices.他们增加的工资会被物价上涨所抵消。
• He put up his prices to offset the increased cost of materials.他提高了售价以补偿材料成本的增加。

3 inefficient   

adj.效率低的，无效的

参考例句：

• The inefficient operation cost the firm a lot of money.低效率的运作使该公司损失了许多钱。
• Their communication systems are inefficient in the extreme.他们的通讯系统效率非常差。

4 shareholders   

n.股东( shareholder的名词复数 )

参考例句：

• The meeting was attended by 90% of shareholders. 90%的股东出席了会议。
• the company's fiduciary duty to its shareholders 公司对股东负有的受托责任