The level of public housing needs to return to previous levels
Australia needs more housing, and we definitely need more public housing
Real wages falls and interest rates rises signal tough times for households and the economy
You can’t sustain household spending while real wages continue to fall, and households are starting to let everyone know
As profits rise, workers continue to be the ones reducing inflation
While record company profits are dismissed as “short-term” workers continue to suffer ongoing falls in real wages
Wages are growing solidly but real wages continue to plummet
Wages are growing the best they have for 11 years, but real wages are now back at the level they were 14 years ago
The RBA raised rates in March and May despite its own analysis saying they were not needed
The Reserve Bank’s own research showed that raising rates after February would only increase unemployment, not lower inflation
Don’t worry about a budget surplus, worry about a slowing economy
Rather than be a budget that will fuel inflation, the budget is actually closer to austerity than stimulation
Wage growth under enterprise agreements shows no signs of driving inflation
Wages growth under enterprise agreements show that workers continue to be the ones doing it toughest during the period of high inflation
Lower inflation but lower wages – the RBA predicts lower real wages
By the middle of 2025 the average wage will be worth less in real terms than it was a decade and half earlier
The latest enterprise agreements show public sector workers are being hurt by wage caps
Stronger wage growth in the private sector is good news, but public sector workers continue to be left behind
It’s not just mining – non-mining profits have also driven inflation
As the Reserve Bank continues to raise rates, it continues to misread the nature of inflation that is being driven largely by profits.
The Reserve Bank’s decision to raise rates shows a total lack of coherency
Wages growth is rising slowly and inflation is falling faster than expected, and yet the RBA decided to hit the economy again with another rate rise.
The Housing Crisis
Australia’s housing crisis is only getting worse, and our social housing shortfall has ballooned to 500,000 and rent is skyrocketing. So how did we get here, and what can be done? This episode is a live recording from the Australia Institute’s Politics in the Pub series. This was recorded on Wednesday 19th April 2023 and
Latest inflation figures show the RBA was right not to raise rates in April
Inflation is falling steadily but hitting low-income households the most.
Slow improvement in wages growth under enterprise agreements
Wages under enterprise agreements are slowly rising, but remain well below inflation
The Stage 3 tax cuts are so geared towards the rich that most workers will pay more tax in 2025 than they did in 2022
Losing the low-middle income tax offset and getting the Stage 3 tax cuts will leave most workers worse off
The Stage 3 tax cuts are bad economics combined with terrible politics. They should be dumped.
The Stage 3 tax cuts were always bad, but with the removal of the low-middle income tax offset, they become a terrible political strategy as well
Wealth inequality across generations will only fuel voter disenchantment
Millennials are not becoming more conservative as they age – and the rigged housing market is just one reason why
With the impact of rate rises still to come the RBA is wise to pause
Perhaps as much as a third of the rate rises since April have yet to fully hit the economy
Stop the fear, give workers a fair pay rise
The whole point of public-sector wage caps is to keep all wages down
Falling inflation growth should give the RBA pause
The latest monthly consumer price index figures show that inflation has peaked and is on the way down.
The market sees the safeguard mechanism deal as a loser for mining companies
The market’s early view of the safeguard mechanism deal is bad for gas and coal mining companies
The housing market has cooled, but housing unaffordability remains a long way off
House prices are falling but housing unaffordability remains high
Wage rises show some improvement but continue to rise well below inflation
The latest data from the Fair Work Commissions suggest wages continue to be deflationary as profits drive inflation
925,000 are now working more than one job
The rising cost of living and falling real wages has seen the number of people working more than one job surge in the past 2 years.
Interest Rates are Sky-High, Who’s to Blame?
Australians are doing it tough at the moment, with cost of living soaring, real wages falling at a record pace, and the RBA’s nine back-to-back interest rate rises only making things harder, all in the name of reducing inflation. Some commentators are warning of a ‘wage price spiral’. But what is really driving inflation? This
Superannuation needs an objective and needs to be reviewed
Superannuation is too important for retirement to be allowed to be a tax dodge scheme for the wealthy. It is time to review the scheme and stop the abuses
Wages rising slower than expected as profits continue to drive inflation
With public sector wages dragging down wage growth and private sector wages rising slower than expected, it is clear Reserve Bank needs to pause its run of rate rises
With interest rates set to rise another 3 times, no wonder consumers are feeling grim
The Reserve Bank now forecasts real household incomes will take longer to recover than they did during the 1990s recession and is also projecting economic growth at historical lows. Australian consumers are right to feel worried about the future.
The destruction of real wages will take a long time to recover
The Reserve Bank now predicts real wages will being to recover from the start of next year, but will take many years to recover
The Reserve Bank is betting that monetary policy is not powerful
The signs are already evident that household consumption is falling despite most mortgage holders yet to feel the full effects of the rate rises. The Reserve Bank however believes more pain is needed.
Luciana Lawe Davies Media Adviser