By Janine Perrett

Time for our regular "stating the bleeding obvious" headline award.

"Hopes of personal income tax cuts fading".

Now there's a shock.

With no obvious tax reform plan, no election strategy, not even sure when to hold a budget; is it no wonder that the Turnbull Government is not going to deliver major personal tax cuts.

And more importantly, whoever said we were going to get them? Sure it is an election year but all we have heard about is the debt and deficit problems and the need to reign in spending. 

Common sense would tell you there was never any justification for big personal income tax cuts.

As the head of the tax council said recently "an election year is never the ideal time for talk of major tax reform".

"Business Council of Australia (BCA) says Australian company tax rates are uncompetitive".

There's another tax shock.

And yes, that was a headline this week. That is only a week after there last feeble attempt to try and cry for more corporate tax relief.

Obviously the BCA has never heard of the law of diminishing returns. Just a tip - no-one even listens to the same whine anymore, so maybe save member funds and CEO time and everyone else's patience by changing the record.

"No impact from Moody's credit rating downgrade says FMG".

Of course Twiggy Forrest's Fortescue would say that. Whether you believe them is another question if you happen to be financially literate.

"China warns against President Trump".

Well there's another bump for his popularity rating at home then.

"Clive Palmer blames daughter for his offensive tweet".


Enough said.