May 2023
Surging mining sector profits are distorting Australia’s economy.
Profits in the mining sector are surging, but output is not – and the increased prices come at a cost to the rest of the economy
How the public is kept in the dark about what consultants tell the government
Less than 20% of consultants’ reports to government are published
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
Affordability of a Liveable Jobseeker Payment is a Non-Issue
Commonwealth on Track for Diminutive Deficit or Surplus in 2022-2023 In the lead-up to its 2023-24 budget, the Labor Government finds itself in an awkward position, accepting that the Jobseeker payment is “seriously inadequate” and an impediment to regaining work, yet professing that it lacks the financial capacity to afford a meaningful increase anytime soon.
Funding our own Destruction
Despite fossil fuel usage contributing to the destruction of our climate, the Australian government still hands out billions every year in fossil fuel subsidies. But where is the money going, and how much is being spent exactly? This was recorded on Tuesday 2nd May 2023 and things may have changed since recording. The Australia Institute
$57.1b: Record Breaking Fossil Fuel Subsidies Following Climate Election
New research shows fossil fuel subsidies over the forward estimates have increased to a record breaking $57.1b, up from the $55.3b forecast in 2022. As the federal budget approaches, future fossil fuel subsidies will cost 14 times the amount invested in the Australian Disaster Ready Fund, and more than the amount spent on the Australian
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.
Vast Majority Want Greater Affordable Housing Direct Investment in Budget
New research from the Australia Institute shows that eight in 10 Australians (80%) agree that the Federal Government should spend more money to directly build affordable housing in the Budget. The Australia Institute surveyed a nationally representative sample of 1,002 Australians about their attitudes toward the Federal Government’s response to the housing crisis. Key Findings:
April 2023
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
7% Minimum Wage Rise Would Tackle Inflation, not Feed it: Research
A 7% National Minimum Wage rise for low paid workers would help tackle the rising cost of living for those on award wages while having a virtually undetectable impact on economy-wide prices, new research from leading economists at the Centre for Future Work has found. The data comes as the Fair Work Commission deliberates about
After the NSW election, privatisation is politically dead in Australia
Last month’s New South Wales election ejected the final mainland Coalition state government from office.
Slow improvement in wages growth under enterprise agreements
Wages under enterprise agreements are slowly rising, but remain well below inflation
Getting Off Gas: Majority Support Household Electrification as Economic, Climate Costs Rise
New national research shows a majority of voters feel positive about switching Australian homes away from gas and moving to full electrification, as cost of living and climate concerns continue to rise. The report, based on a nationally representative survey of Australian households undertaken by The Australia Institute and SEC Newgate, reveals very little opposition
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 Great Gas Rip-off
The PRRT, or Petroleum Resource Rent Tax, is a tax on profits of petroleum products, including crude oil and petroleum gas. But through accounting tricks and loopholes, gas corporations are avoiding paying their fair share of tax. Research mentioned: https://australiainstitute.org.au/report/reforming-the-petroleum-resource-rent-tax/ This was recorded on Monday 19th April 2023 and things may have changed since recording.
Divided Nation: Rural Australia Would Get Least from Stage 3 Tax Cuts for Rich
New analysis reveals rural and regional communities will get the least from the Stage 3 income tax cuts, with experts warning the package will widen economic inequality between the city and the bush and reduce revenue for essential rural health, education and community programs. 5 of the bottom 10 ‘biggest losers’ from the Stage 3
The economy’s still growing, so why does it feel like you’re falling behind?
No, it’s not just inflation. Since the GFC, there has been a radical reversal in who benefits from economic growth. Back in the 1950s, the bottom 90% of income earners enjoyed around 90% of the benefits of the economic growth, but not anymore. So what has happened? This was recorded on Tuesday 11th April 2023 and things may
Inequality on Steroids as Bottom 90% get just 7% of Economic Growth Since 2009
Inequality has been on steroids in Australia over the last decade with new data revealing the bottom 90% of Australians receive just 7% of economic growth per person since 2009, while the top 10% of income earners reap 93% of the benefits. The data shows a radical reversal on the long term trend from the
Can a stockmarket gamble pay for the housing crisis?
Australia is in the midst of a housing crisis. Record numbers of Australians are in severe housing stress and it’s not just people with rising interest rates on their mortgages. Fewer and fewer people can afford a roof over their head and more and more people are sleeping rough on the streets or in their car.
March 2023
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.
Big Utes Driving Transport Pollution: Research Report
A new research report has found that favourable tax and policy treatment of fuel-guzzling utes and SUVs is driving Australia’s transport emissions. Of the top 10 most popular new vehicles in Australia, five are big utes, compared to only 2/10 in the UK. The new research identifies a range of policy options to reduce Australia’s
NSW Missing Out on $6.2b in Coal Royalties Compared to Queensland
Research released today by The Australia Institute estimates that NSW could have raised an additional $6.2 billion in coal royalties this financial year if it had adopted Queensland’s royalty system. While NSW households and business have been charged more for energy due to the war in Ukraine, the public has missed out on collecting additional
Let them eat subs | Between the Lines
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Ignore the fears from the gas industry, Australia has more than enough gas
Once again the gas industry is crying wolf and telling us we need more gas to prevent shortages. But if you read beyond the scare quotes today’s report from Australia’s Energy Market Operator report shows we already have more than enough gas.
Super Expensive, Super Unfair
Superannuation is supposed to help us save for our retirement, and tax concessions on super are meant to reduce the burden on the government to fund our retirement through the age pension. But what are these concessions, and are they really working in the way they are intended to? To help explain, we’re talking to
Women Earn $1m less than men & $136,000 Less in Super over Working Life
New research released on International Women’s Day reveals Australian women earn $1.01m less over their working lives than men, based on median income data. Women earn $136,000 less in superannuation over their working lives than men, based on median income data. Women earning the median wage will accumulate approximately $393,676 in super, $151,000 below what
Australian Inflation Reflects a Historic Redistribution from Workers to Bosses
The upsurge of inflation since the COVID-19 lockdowns has not had equal impacts on all Australians. Workers and low-income people have experienced the worst losses: both because their incomes, in most cases, have not kept up with prices, and because they are more dependent on essential goods and services (like shelter, food, and energy) than higher-income households.
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
February 2023
Multi-millionaire Super Tax Breaks Well Past Retirement
Today’s announced changes to super tax concessions by the Prime Minister and Treasurer are a welcome step towards fairness and sustainability for Australia’s retirement income system. The changes come after more than 15 years research from the Australia Institute into the inequitable and unsustainable super tax breaks for multimillionaires, with our most recent research on
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