October 2022

Liz Truss’ spectacular tax backflip gives Albanese a chance to do the sam

UK Prime Minister Liz Truss’ remarkable decision to scrap her own tax cuts offers an incredible opportunity for the Albanese government. After weeks of outrage from voters, her own backbench and even the financial markets that once trumpeted the benefits of tax cuts, common sense and economic sense combined to deliver a timely, if humiliating, backflip. Here

September 2022

We pay billions to subsidise Australia’s fossil fuel industry. This makes absolutely no economic sense

by Richard Denniss in The Conversation

Fossil fuel subsidies from major economies including Australia reached close to US$700 billion in 2021, almost doubling from 2020, according to new analysis by the International Energy Agency and OECD. These subsidies are expected to keep rising in 2022 as governments worldwide attempt to use fossil fuel subsidies to shield customers from the high energy prices caused

August 2022

July 2022

Joseph Stiglitz on how to make Australia richer

by Richard Denniss in The Saturday Paper

Richard Denniss Professor Joseph Stiglitz, welcome to Australia. John Maynard Keynes once said “practical men who believe themselves to be quite exempt from any intellectual influence are usually the slaves of some defunct economist”. It’s decades since you and other Nobel prize winners debunked the intellectual underpinnings of neoliberalism. Are Australians slow to change their minds

Australia’s farcical climate policy: market forces to cut emissions and subsidies to destroy carbon sinks

by Richard Denniss

Climate change often gets blamed on market failure, but government failure plays a pretty big role as well. Not only do Australian governments spend more than $11.6 billion per year subsidising fossil fuels, at the same time the Federal Government spends billions paying some landholders to grow more trees, state governments perversely continue to subsidise

Joseph E. Stiglitz: The Role of Government in the Modern Economy [Webinar]

featuring Ebony Bennett and Richard Denniss

Join Nobel Laureate, former World Bank Chief Economist, and best-selling author Professor Joseph E. Stiglitz, in conversation with Australia Institute chief economist Dr Richard Denniss, about the need to expand the role of governments, unions, and civil society. Professor Stiglitz is visiting Australia as a guest of the Australia Institute. This was recorded on 11th

June 2022

If Australia taxed windfall gas profits we could invest billions in renewables and get off fossil fuels for good

by Richard Denniss in The Guardian

A massive expansion in Australia’s gas production did nothing to make gas cheap for Australian homes and businesses. A decade of propping up ageing coal-fired power stations did nothing to ensure the reliability of our electricity supply. And the Coalition’s so-called “gas trigger” and “big stick” electricity reforms have done nothing to control Australian energy

Gaslighting Australia

by Richard Denniss in The Monthly

Local gas suppliers aren’t in crisis – soaring prices are going according to plan The Australian gas industry isn’t in crisis; it’s in heaven. Its profits and share prices are rising even faster than its greenhouse gas emissions, and everything is going according to the plan it has been working on for more than a

May 2022

With falling real incomes and rising prices many people don’t believe the story of prosperity Scott Morrison is preaching

by Richard Denniss in The Guardian

While it makes economic and political sense to suggest, as Anthony Albanese has, that the minimum wage, and indeed most wages, rise inline with the rate of inflation Scott Morrison has suggested such a move would be ‘reckless and dangerous’. What’s far more dangerous and reckless is letting real wages and consumer spending fall just

April 2022

Unpacking the 2022 Federal Budget

This week on Follow the Money we’re unpacking the 2022 Federal Budget. Who are the winners and losers, and what does it all mean with an election looming? Recorded live on 31st March 2022 and things may have changed since recording. The Australia Institute // @theausinstitute Host: Ebony Bennett, Deputy Director, Australia Institute // @ebony_bennett

March 2022

Morrison’s economic lies

by Richard Denniss in The Saturday Paper

Scott Morrison lies about the economy all the time. He can’t help himself. He tells big lies about transitioning away from fossil fuels and small lies about the role of his office in the way grants are directed to marginal seats. He tells strategic lies about the union movement engaging in “a campaign of extortion”

February 2022

Tax-deductible RATs deliver nothing to the lowest-paid. How very Morrison government

by Richard Denniss in The Guardian

The recent decision to make Rapid Antigen Tests (RATs) tax deductible rather than free will deliver nothing to low paid essential workers and big savings to high income earners. How very Morrison Government. While a part-time cleaner working in the aged care sector will likely receive zero benefit from tax deductible RATs, someone earning $200,000

January 2022

Summer Series – The Long Covid-19 Economic Crisis with Richard Denniss [webinar]

featuring Ebony Bennett and Richard Denniss

Our summer series brings you some of the best conversations from our webinars in 2021. This episode we’re bringing you a conversation with our chief economist Richard Denniss about the merits and flaws in the government’s fiscal response to the pandemic and the long terms effects on the Australian economy. This was recorded live on

Summer Series – Feeling the Heat with Marian Wilkinson, Richard Denniss and Allan Behm [webinar]

featuring Allan Behm, Ebony Bennett and Richard Denniss

Our summer series brings you some of the best conversations from our webinars in 2021. This episode we’re bringing you a conversation with award-winning journalist Marian Wilkinson and the Australia Institute’s chief economist Richard Denniss and Allan Behm, International & Security Affairs program director, about the growing pressure on Australia, as global and regional powers

December 2021

Summer Series – Coal, Climate Change and Conservatives with Malcolm Turnbull [webinar]

featuring Ebony Bennett and Richard Denniss

Our summer series brings you some of the best conversations from our webinars in 2021. This episode we’re bringing you a conversation about coal, climate change and conservatives and why NSW needs a moratorium on new coal mines with former Prime Minister of Australia, Malcolm Turnbull, who was in conversation with the Australia Institute’s chief

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