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.
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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
Latest RBA estimates show real wages in 2023 will be where they were in 2008
A third of Australia’s biggest companies paid no tax in 2020-21
In 2020-21 the biggest companies in Australia were able to reduce their taxable income to just 12% of their total income
Would further interest rate rises do more harm than good?
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?
The RBA talks tough about low-rising wages but not soaring profits
Wages are rising within the RBA’s target band of inflation but profits are soaring 7 times that rate. And yet the RBA is more concerned with rising wages than profits
Labor’s budget gives wellbeing focus a pathway to future prominence
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.
The Stage 3 tax cuts will be responsible for up to 42% of the Budget deficit
The Stage 3 tax cuts are not just unfair, they create a massive hole in the budget
October Budget Wrap
The October Budget delivers on a range of welcome bread & butter commitments, but has deferred solving Australia’s meat and potatoes revenue problems. So who are the winners and losers, and what are the missed opportunities? This was recorded on Thursday 27th October 2022 and things may have changed since recording. The Australia Institute //
The Budget reveals the failure of the PRRT
Right now the gas industry is booming, but the Petroleum Resource Rent Tax is not.
Rental prices are going up fast across Australia
People around Australia have been seeing the advertised prices of rents increasing, now the inflation figures are catching up.
Inflation is soaring and real wages are plummeting
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.
The Budget shows the big hole in Real Wages
The Government acknowledges the need to get wages growing again, but the budget reveals just how big the task is
Bread & Butter Budget Defers Meat & Potatoes Revenue Reform to May ‘23
The October Budget delivers on a range of welcome bread & butter commitments, but has deferred solving Australia’s meat and potatoes revenue problems until at least May 2023, according to independent think-tank the Australia Institute. “The meat and potatoes revenue reforms Australia needs, like scrapping stage 3, a windfall profits tax, or fixing the PRRT
Tanya Martin Office Manager
Jake Wishart Senior Media Adviser