If the Albanese Government were looking for some political cover to remove the chokehold of the $254 billion Stage 3 income tax cuts on the Budget, it could do worse than look to the International Monetary Fund’s latest advice. As millions of Australians struggle to make ends meet due to cost of living increases, the

If a pandemic killed 15,000 people and nobody seemed to notice, was it really a pandemic? In Australia last year, COVID-19 killed more people than lung cancer, breast cancer, prostate cancer, car accidents and drowning combined. And in addition to the 15,000 deaths directly attributed to COVID, the Australian Bureau of Statistics tells us that

When you reduce the revenue available to fund government services, you inevitably increase inequality

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.

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.

The latest economic outlook from the OECD highlights the precarious path for Australia over the next few years.

The latest wages price index figures show that for the first time since 2013 wages grew by more than 3% in the past year.

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.

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.

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.

In the past 7 months, the Reserve Bank has increased the cash rate by 275 basis points. That is as fast as any time since the RBA became independent. Given the pace of inflation growth, the rises are not wholly without cause, but as policy director, Greg Jericho notes in his Guardian Australia column the main drivers of inflation are now easing, and wages are yet to take off. In that case, should the RBA continue to raise rates given it will only slow the economy further?

Talk is cheap, the saying goes, but decades of neoliberalism and failed trickle-down economics means Australia needs to begin some new and more meaningful conversations about the kind of country we want to be.

On Wednesday the latest inflation figures showed that in the 12 months to September prices across Australia grew by 7.3% – the fastest rate since 1990.

How is it that in Australia, one of the richest countries in the world, we have a housing crisis where hundreds of thousands of renters can’t afford a roof over their head? To figure out why rents are soaring, we need to look at the broader political disease: we have spent about two decades trying

The latest data from the Bureau of Statistics on families shows that more than ever before couples with dependants are both working.

In the past twelve months low-income earners have seen their real wages fall faster than ever before, their mortgage interest rates rise faster than ever before and, here’s the real kicker: their average tax rates actually increase. To be clear, someone working on the minimum wage has seen the amount of tax they pay rise

This week the IMF released its latest World Economic Outlook. And the outlook is dire. Economic growth around the world was downgraded with recession-like conditions being predicted for many advanced economies including the USA, UK and much of the EU.

Jim Chalmers has a once in century opportunity to spend a quarter of a trillion dollars on nation building without going into a cent of debt. In fact, if he chooses his public investments well he could drive growth up, cost of living down, and pay down the Morrison Government’s debt faster than currently expected.

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

The ending of mandatory Covid isolation periods has also ended disaster payments for workers who don’t have access to sick leave. It’s time we faced up to the fact that the industrial relations rules have been creating the wrong kinds of work. That’s the bad news. The good news is we can change them if we want

This week the UK government introduced massive high-income tax cuts – cuts that are not even as bad as the Stage 3 tax cuts here in Australia. And the reaction by the market was brutal. Investors saw the tax cuts for what they were – a redistribution of national income from the poorest to the wealthiest, that provided no economic growth. As a result the value of the UK Pound plunged.

Last week before the House Economics Committee, the Governor of the Reserve Bank made it clear that the current rise in inflation has nothing to do with wages growth. And yet he also made it clear he expects workers to bear the brunt of the cost that comes from slowing inflation.

Since the Reserve Bank began raising interest rates in May, the housing market has very much come off the boil.

The June quarter GDP figures released by the Bureau of Statistics showed that over the past year the economy grew a seemingly strong 3.6%.

The truth hurts, which is why it will be painful for Anthony Albanese to come clean with Australians about how wrong it would be to spend $240 billion on tax cuts, the bulk of which will go to very high-income earners, mainly older men. Breaking promises is never easy, but keeping the wrong promises is just

The Stage 3 tax cuts, which will essentially create a flat income tax system, have always been clearly biased towards high-income earners. For those earning over $200,000, the tax cuts represent a 4.5% cut compared to just 0.6% for someone on the median income of $60,000. But this week, the Parliamentary Budget Office has released costings that detail just how skewed the allocation of money is to the richest in our society.

A massive tax cut worth $240bn over the next 10 years is set to come into effect in 2024. But this tax cut will not help those who are struggling the most. It will not help those on low incomes. People earning $45,000 a year or less will get nothing at all. Meanwhile people earning

For most of the past 40 years whenever the discussion turns to the need to lift productivity, invariably the conversation is dominated by business groups and various media commentators who suggest the solution is more labour market flexibility. Just a bit more flexibility and productivity will improve!

The latest wages price index figures from the Bureau of Statistics reveal just how far workers ability to purchase items with what they earn has fallen.

The 2019-20 taxation statistics released this week by the ATO provide a plethora of data that reveals with precision the salaries of people by location, occupation age and importantly, gender.