April 2019
Economics 101 for the ABCC
The Australian Building and Construction Commission’s decision to press charges against 54 steelworkers for attending a political rally, with potential fines of up to $42,000 per person, is abhorrent on any level. No worker should face this kind of intimidation for participating in peaceful protest.
Budget 2019-20: Ooops, They Did It Again!
You would think that after 5 consecutive years of wage forecasts that wildly overestimated actual experience, the government might have learned from its past errors – and published a wage forecast more in line with reality. But not this government. They are still trying to convince Australian workers, who haven’t seen real average wages rise in over 5 years, that better times are just around the corner. And rosy wage forecasts are helpful in justifying their equally optimistic revenue forecasts: since if Australians are earning more money, they will be paying more taxes!
March 2019
124 Labour Policy Experts Call for Measures to Promote Stronger Wage Growth
124 labour policy experts have today published an open letter calling for proactive measures to help accelerate the rate of wages growth in Australia’s economy. The legal experts, economists, and other policy analysts agreed that “stronger wages in the future would contribute to a stronger, more balanced and fairer Australian economy,” and they proposed several broad strategies to boost wages.
A Historic Opportunity to Change Direction
A unique conjuncture of economic and political factors has created an opportunity for a historic change in the direction of Australia’s workplace and industrial policies. That’s the conclusion of Dr. Jim Stanford, Economist and Director of the Centre for Future Work, in a major review article published in Economic and Labour Relations Review, an Australian academic journal.
8 Things to Know About the Living Wage
There has been a lot of discussion about “living wages” in recent years – in Australia, and internationally. And now the idea has become a hot election topic. The ACTU wants the government to boost the federal minimum wage so it’s a true living wage. Opposition leader Bill Shorten has hinted he’s open to the idea. Business leaders predict economic catastrophe if the minimum wage is increased.
January 2019
Trans Tarkine Track clips
Over the summer, we have been busy recording what Tasmanians think about a whole range of issues. Tassie is cool and tourism is hot – with our state having the largest rise in visitor numbers this quarter. Whilst some in the South and East are worried about over crowding and under funding of infrastructure, the
Rebuilding Vocational Training in Australia
Australia’s manufacturing sector has been experiencing an important and welcome rebound during the last two years. The turnaround has been documented and analysed in previous Centre for Future Work research (including studies published in 2017 and 2018 as part of the National Manufacturing Summit, co-sponsored by the Centre).
December 2018
New Video: Australia Needs a Pay Rise!
Jim Stanford, Director of the Centre for Future Work, was recently featured in a new video produced in collaboration with United Voice and the Flip production company.
November 2018
New Book: The Wages Crisis in Australia
Australian wage growth has decelerated in recent years to the slowest sustained pace since the 1930s. Nominal wages have grown very slowly since 2012; average real wages (after adjusting for inflation) have not grown at all. The resulting slowdown in personal incomes has contributed to weak consumer spending, more precarious household finances, and even larger government deficits.
Go Home on Time Day 2018
Wednesday 21 November is Australia’s official “Go Home On Time Day,” sponsored by the Centre for Future Work and the Australia Institute. This represents the 10th year of our initiative, to provide light-hearted encouragement to Australian workers to actually leave their jobs when they are supposed to. Instead of working late once again – and allowing your employer to “steal” even more of your time, without even paying for it – why not leave the job promptly. Spend a full evening with your family or friends, visit the gym, see a movie – do anything other than work.
August 2018
Infographic: The Shrinking Labour Share of GDP and Average Wages
The Centre for Future Work recently published a symposium of research investigating the long-term decline in the share of Australian GDP paid to workers (including wages, salaries, and superannuation contributions). The four articles, published in a special issue of the Journal of Australian Political Economy, documented the erosion of workers’ share of national income, its causes, and consequences.
Medibank Private – reported full year results on 24 August 2018
New analysis by The Australia Institute shows that based on Medibank Private’s annual report, the company tax cut would be a $554.9 million gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 628.3 Company tax 2017-18 183.2 Benefit from company tax cut based
Coca-Cola Amatil – reported half year results on 22 August 2018
New analysis by The Australia Institute shows that based on Coca-Cola Amatil’s annual report, the company tax cut would be a $201.7 million gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 232.1 Company tax 2017-18 66.6 Benefit from company tax cut based
Sydney Airport – reported half year results on 22 August 2018
New analysis by The Australia Institute shows that based on Sydney Airport’s annual report, the company tax cut would be a $65.4 million gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 194.8 Company tax 2017-18 21.6 Benefit from company tax cut based
Seven Group – reported full year results on 22 August 2018
New analysis by The Australia Institute shows that based on Seven Group’s annual report, the company tax cut would be a $192.3 million gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 468.7 Company tax 2017-18 63.5 Benefit from company tax cut based
Lendlease – reported full year results on 22 August 2018
New analysis by The Australia Institute shows that based on Lendlease’s annual report, the company tax cut would be a $825.7 million gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 1,066.2 Company tax 2017-18 272.6 Benefit from company tax cut based on
Big Four Banks
New analysis by The Australia Institute shows that based on the big four banks’ reporting, the company tax cut would be a $39.49 billion gift over the first decade of the cut to just these four companies. Big Four Banks $ million Profit 2017-18 44,262 Benefit from company tax cut based on 2017-18 profit 2,173
NIB Holdings – reported full year results on 20 August 2018
New analysis by The Australia Institute shows that based on NIB Holdings’s annual report, the company tax cut would be a $178.1 million gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 192.3 Company tax 2017-18 58.8 Benefit from company tax cut based
Fortescue – reported full year results on 20 August 2018
New analysis by The Australia Institute shows that based on Fortescue’s annual report, the company tax cut would be a $1.523 billion gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million (converted from US$) Profit 2017-18 1,705.7 Company tax 2017-18 502.8 Benefit from company tax
Woolworths Group – reported full year results on 20 August 2018
New analysis by The Australia Institute shows that based on Woolworths Group’s annual report, the company tax cut would be a $2.175 billion gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 2,394 Company tax 2017-18 718 Benefit from company tax cut based
Goodman Group – reported full year results on 17 August 2018
New analysis by The Australia Institute shows that based on Goodman Group’s annual report, the company tax cut would be a $249.6 million gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 1,185.2 Company tax 2017-18 82.4 Benefit from company tax cut based
Telstra – reported full year results on 16 August 2018
New analysis by The Australia Institute shows that based on Telstra’s annual report, the company tax cut would be a $4.765 billion gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 5,102 Company tax 2017-18 1,573 Benefit from company tax cut based on
QBE – reported half year results on 15 August 2018
New analysis by The Australia Institute shows that based on QBE’s annual report, the company tax cut would be a $87.8 million gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 394.0 Company tax 2017-18 29.0 Benefit from company tax cut based on
ASX Limited – reported full year results on 16 August 2018
New analysis by The Australia Institute shows that based on ASX Limited’s annual report, the company tax cut would be a $596.7 million gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 642.1 Company tax 2017-18 197.0 Benefit from company tax cut based
Wesfarmers – reported full year results on 15 August 2018
New analysis by The Australia Institute shows that based on Wesfarmers’s annual report, the company tax cut would be a $3.77 billion gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 3,850 Company tax 2017-18 1,246 Benefit from company tax cut based on
CSL Limited – reported full year results on 15 August 2018
New analysis by The Australia Institute shows that based on CSL Limited’s annual report, the company tax cut would be a $1.67 billion gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 2,281 Company tax 2017-18 552 Benefit from company tax cut based
Woodside – reported half year results on 15 August 2018
New analysis by The Australia Institute shows that based on Woodside’s annual report, the company tax cut would be a $1.76 billion gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 (Twice half year result) 1,740 Company tax 2017-18 (Twice half year result)
Insurance Australia Group Limited – reported full year results on 15 August 2018
New analysis by The Australia Institute shows that based on Insurance Australia Group Limited’s annual report, the company tax cut would be a $1.2 billion gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 1,410.0 Company tax 2017-18 384.0 Benefit from company tax
Domino’s Pizza Enterprises Limited – reported full year results on 14 August 2018
New analysis by The Australia Institute shows that based on Domino’s Pizza Enterprises Limited’s annual report, the company tax cut would be a $159.9 million gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 174.5 Company tax 2017-18 52.8 Benefit from company tax
Whitehaven – reported full year results on 14 August 2018
New analysis by The Australia Institute shows that based on Whitehaven’s annual report, the company tax cut would be a $711 million gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 760 Company tax 2017-18 235 Benefit from company tax cut based on
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