7.8% Annual Inflation Spells Pain as Rents Soar Fastest in 10 Years
The ABS release of annual inflation data to the December quarter of 7.8% reveals many Australians will be paying more for housing with rapidly rising rents and a likely RBA rate increase at the February 7 meeting, according to the Australia Institute. “This increase is bad news for Australians struggling with the cost of living,
Summer Series – August in Kabul with Andrew Quilty [Webinar]
Our summer podcast series brings you some of the best conversations from our webinars in 2022. Andrew Quilty was one of a handful of Western journalists who stayed in Kabul as the city fell. His new book August in Kabul his first-hand account of those dramatic final days. This was recorded on Wednesday 3rd August 2022
No economic benefit from NT cotton: submission
Research released today by The Australia Institute shows that a cotton industry in the Northern Territory would not bring significant employment or tax payments. The findings were submitted to the NT Government’s water policy consultation process, which closed yesterday. Key points: The cotton industry does not create significant employment in Australia. Cotton growing employs just
December 2022
Summer Series – Joseph Stiglitz: The Role of Government in the Modern Economy [Webinar]
Our summer podcast series brings you some of the best conversations from our webinars in 2022. Earlier in the year the Australia Institute hosted Nobel Laureate Professor Joseph Stiglitz for a speaking tour of Australia. In this episode he, Richard, and Ebony discussed the need to expand the role of governments, unions, and civil society.
Inequality and poverty is a policy choice – and the Stage 3 tax cuts will make both worse
When you reduce the revenue available to fund government services, you inevitably increase inequality
Coal Export Revenue up 186% to $112 Billion as Parliament Considers Price Caps
New research reveals Australian coal export revenue reached $112 billion in 2021-22, an increase on the previous year of $73b or 186%, as Federal Parliament reconvenes to legislate price caps on coal and gas companies making windfall profits, according to a new report From Russia With Love by leading public policy think-tank the Australia Institute.
100+ Economists, Tax Experts Call for Stage 3 Overhaul in Full-Page Adverts
More than 100 economists and tax experts have published an open letter calling on Prime Minister Anthony Albanese to reconsider the Stage 3 tax cuts for high income earners, labelling the tax cuts as economically unaffordable and unfair. The open letter appears as a full-page advert in the SMH & The Age today. High profile
New data shows how important funding public services is for reducing inequality
Public services massively reduce inequality, but the Stage 3 tax cuts will make it much more difficult to fund them
The economy is slowing as the Reserve Bank hits the brake
The build up of savings during the pandemic is over – now we need strong income growth to keep the economy going as the Reserve Bank tries to slow it.
The latest data shows the urgent need for more public housing
As approvals for public sector housing hit 2 year lows, the ambition for more public housing needs to be even greater than the government’s 20,000 in 5 years target.
The Reserve Bank needs to watch that it doesn’t push the economy off a cliff
For most of this year, the warnings and news about inflation have been one of hope for the best but experience the worst. Predictions of future inflation growth have continually been revised upwards and with it has been the suggestion that interest rates need to keep rising.
9 in 10 Believe It’s Governments Job to Ensure Wages Keep Up with Cost of Living: Research Polling
The Australia Institute surveyed a nationally representative sample of 1,001 Australians about their views on wages and cost of living between 1-4 November. The majority of Australians report that their wages have not kept up with the cost of living over the past 12 months. “This research shows most Australians feel like they are falling
November 2022
Deal on IR Reforms Sets Stage for Faster Wage Growth
Industrial Relations Reform Sets Stage for Significant Acceleration of Wage Growth.
Ending Fossil Fuel Finance, Improving Corporate Transparency Would Support Democracy in Pacific: Research Submission
Stronger climate action and better resource sector governance are two ways in which Australia can partner with countries in our region to promote stability according to a research submission by the Australia Institute to the Inquiry into supporting democracy in our region. Key Points: Climate action has languished for the last decade and fossil fuel
Rough times ahead for Australia’s economy as oil, gas and coal companies celebrate
The latest economic outlook from the OECD highlights the precarious path for Australia over the next few years.
Go Home On Time Today!
New research shows Australian workers are on average working 6 weeks unpaid overtime per year, costing over $92 billion dollars in unpaid wages across the economy. 2022 marks the fourteenth annual Go Home on Time Day (GHOTD), an initiative of the Centre for Future Work at the Australia Institute that shines a spotlight on overwork
Australians Working 6 Weeks Unpaid Overtime, Costing Economy Over $92 Billion: Go Home on Time Day Report
New research shows Australian workers are on average working 6 weeks unpaid overtime per year, costing over $92 billion dollars in unpaid wages across the economy. The average worker is losing over $8,000 per year or $315 per fortnight due to what researchers have branded “time theft”. 23 November 2022 marks Go Home on Time
Stronger wages growth from enterprise agreements, strongest from unions
The latest wage rises from enterprise agreements show good improvement, but overall, workers continue to see their wages lag behind inflation
Three’s Company: What is multi-employer bargaining?
To combat persistently low wages growth, the Government has put forward its Secure Jobs Better Pay Bill, currently before the Senate. The most contentious reform within the Bill is ‘multi-employer bargaining’. We’ve heard employer groups call it a ‘seismic shift that will increase strikes’. On the other hand, unions are calling the reforms moderate. What
Wages growth improves but real wages fall at a record rate
The latest wages price index figures show that for the first time since 2013 wages grew by more than 3% in the past year.
Greenwashing and Taxing Gas in the Crosshairs | Between the Lines
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Business groups say they want higher wages, but their actions show the opposite
Business groups like the ACCI and AI Group say they want higher wages, but their recommendations for minimum wage rises show they rarely want real wages to rise
Restoring Collective Bargaining Coverage Would Boost Wage Growth: Research Report
Proposed reforms to Australia’s industrial relations laws are likely to support higher coverage for collective bargaining in the national labour market, and provide a boost to stagnant wage growth according to new research from the Centre for Future Work. The report reviews historical data on the erosion of collective bargaining in Australia, and its close
Gas companies are profiting off of human misery – we need a windfall profits tax
Russia’s illegal invasion of Ukraine caused a massive surge in gas and LNG prices that have enabled gas companies around the world, including Australia to make record-level profits.
Multi-Employer Bargaining Necessary for Fixing Wages Crisis
Proposed reforms to Commonwealth industrial relations laws would create more opportunities for collective bargaining to occur on a multi-employer basis, rather than being limited solely to individual workplaces or enterprises. Business groups have attacked this proposal as a dramatic change that would supposedly spark widespread work stoppages and industrial chaos.
IR Reforms To Close Off The ‘Nuclear Option’ Will Protect Wages and Entitlements
New research from the Centre for Future Work quantifies the dramatic risks faced by workers whose employers unilaterally terminate enterprise agreements during the course of renegotiations. This aggressive employer strategy, which became common after a precedent-setting 2015 court decision, would be curtailed by new industrial relations legislation proposed by the Commonwealth Government.
Overwhelming Majority Support for Gov Intervention in Gas Price Crisis: Research
New polling research reveals an overwhelming majority of Australians (86%) support a government intervention in the gas industry, either through export controls, a windfall profits tax, or both. Key Findings: An overwhelming majority of Australians (86%) support a government intervention in the gas industry, either through export controls or a windfall profits tax or both.
With household incomes set to fall, we need to think about what matters in the economy
The current tightening of monetary policy is undoubtedly having an impact. While it may take some time for the slowing of inflation to flow through to the official CPI figures – especially given the level of inflation that is being imported – the economy is set to slow drastically.
Not even the Liberal Party can defend the Stage 3 tax cut on its own merit
In defending the Stage 3 tax cuts in parliament, Angus Taylor inadvertently highlighted the real benefits for low-middle income earners comes from Stages 1 and 2.
Some small signs of better wage rises
The latest enterprise agreements figures show small signs of wage growth and once again the benefits of being in a union
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