People are starting with much larger HECS/HELP debts than in the past – and it is only going to get worse
Australians in their 20s have HECS/HELP debts more than $10,000 greater in real terms than did people 20 years ago
HECS/HELP indexation is sending those earning less than $65,000 backwards
Ending the indexation of HECS/HELP debts would deliver a truly interest free-loan for students
.Wages growth in enterprise agreements provides no reasons for worry about inflation
Wage growth in enterprise agreements is at a level completely compatible with long-term inflation targets
Backing the renewable horse
The government is under fire for trying to ‘pick winners’, but green manufacturing could be the pony to get behind, says Greg Jericho.
Investing in a renewable manufacturing industry is vital for Australia’s living standards (and climate)
Australia’s economy is less an advanced economy than it is a petrostate style simple economy. That needs to change
The market expects rates to fall – but that may be optimistic
Greg Jericho discusses the decisions facing the Reserve Bank in coming months and a new report showing that rate rises hurt Australians more than anyone in the world.
Who’s hurting most from rising interest rates? It’s probably you.
Soaring house prices, high household debt and the pervasiveness of variable rate home loans mean that Australians bear the brunt of interest rate rises, says Greg Jericho.
Australia’s “stupid” surplus obsession must end
A budget surplus doesn’t mean a government is good at running the economy – we should focus on the choices they make instead, says Greg Jericho.
The big budget con
The budget balance usually steals the headlines on budget night, but it’s not that important, says Greg Jericho.
Don’t worry about a budget surplus, care about the choices in the budget
Budget, Julia Gillard rightly said, are about choices. And those choices are a lot more important than whether or not the budget is in surplus or deficit
“It’s a scare campaign”: award wage rise won’t trigger inflation spiral
With unions calling for a five per cent increase to award wages, business groups are crying wolf over the proposal’s impact on inflation and unemployment, says Greg Jericho.
March 2024
Waiting for Godot (and wage-price spirals)
Despite claims by some business groups and commentators, a modest wage increase for workers isn’t going to send inflation skyrocketing, says Greg Jericho.
Wage growth in private-sector enterprise agreements falls in the last quarter of 2023
The latest figures reveal that wages in the private-sector are not growing out of control – indeed they appear to have peaked.
The RBA should keep its finger off the interest rate trigger
With unemployment tumbling in February, the Reserve Bank of Australia (RBA) should resist the urge to raise interest rates, says Australia Institute Chief Economist Greg Jericho.
Too good to be true? Employment spike exceeds expectations
Unemployment dropped in a big way in February, so is the Australian economy now out of the woods?
Tasmania’s fear of government debt is hurting the state
Tasmanians have been badly served by its government’s exaggerated fears about the condition of the state budget.
Housing is so bad that 2020 prices look good…
Housing prices have risen so much in Australia that 2020 prices look almost reasonable.
Housing affordability is so bad that 2020 (!) now looks good
House prices after a brief fall in 2022 rose consistently during 2023 and housing affordability is now as bad as ever
GDPitiful
Australia’s recent gross domestic product (GDP) figures show that the economy is weak and people are struggling to keep up. So what can the federal government – and the Reserve Bank – do to help? Greg Jericho is Chief Economist at the Australia Institute and the Centre for Future Work and popular columnist of Grogonomics
The RBA gets its wish as Australia’s economy slows dramatically
As interest rates have climbed, Australia’s economy has slowed – let us hope the RBA has not stalled it.
A Bad Case of Gas
The gas industry likes to tell us it’s vital to the Australian economy. But when people are paying more in GST for Taylor Swift merch than many companies are paying in company income tax per year, and the government collects more from HECS than the PRRT, you know something is seriously wrong. Greg Jericho is
Sorry, Coles and Woolworths, but high wheat prices are not to blame for your bread prices
At worst at worst, the increase in wheat prices should have caused a 0.75% increase in the price of bread. Instead they soared.
February 2024
The gas industry is laughing at us as they make more money but not more tax
Despite soaring production and revenues the gas industry is not paying more tax
The changes to Stage 3 show that good policy is good politics
The changes to the Stage 3 tax cuts have passed the Senate and will become law.
Wages are up! And, why non-compete clauses are bad for the economy
Wages are up over the past year, for the first time since 2021! Which means your real wage has increased as well, but by a small amount. Also this week, the Bureau of Statistics looked at restraint clauses, or non-compete clauses. So what do they mean for workers, and the economy as a whole? Lower
Real wages are finally growing! But they have a long way to go
Let us celebrate real wages rising, but not forget how far we have to go.
How John Howard Ruined Housing
The Right to Disconnect is attracting criticism from business groups and others, saying it will reduce productivity. Well, it won’t. And do they mean productivity, or profits? Also, how negative gearing and the capital gains tax discount delivered massive tax breaks to the rich at the expense of affordable housing for the rest of Australia.
New Look RBA, New Direction?
With Michele Bullock at the helm of the RBA, there’s change in the air. But do the changes extend below surface level? Where do they think inflation is going, and what about those pesky interest rates? Join us as we dive into the latest monetary news. Greg Jericho is Chief Economist at the Australia Institute
Yes, the government collects more money from HECS than it does from the petroleum resource rent tax.
We need to tax things we want less of and subsidise things we want more of. Right now with PRRT and HECS, we’re doing it the wrong way round.
Inflation seems to be under control…what now?
The latest CPI figures show inflation has fallen, hopefully putting an end to interest rate rises for the moment. But does that mean the economy is healthy now, or is there more to it? Greg Jericho is Chief Economist at the Australia Institute and the Centre for Future Work and popular columnist of Grogonomics with
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