Media Releases

May 2010

April 2010

Interest rates up–bank profits up

The market power enjoyed by Australia’s big four banks is allowing them to increase profits when official interest rates rise. This is the case even when banks pass on only the official rate rise to their mortgage customers.

March 2010

February 2010

Telstra profits at the expense of low income earners

Low income households already bearing the brunt of Telstra’s market power would be worse off if price caps were removed, according to The Australia Institute’s submission to an Australian Competition and Consumer Commission’s review. The ACCC is considering whether competition in telecommunications is sufficient to grant Telstra’s call for price controls to be dropped. The

November 2009

Nano: the sexy new science with lots of unanswered questions

Greater transparency and public engagement about the potential opportunities and risks presented by nanotechnology is required, according to a new report by The Australia Institute. While still an emerging field, nanoscale sciences and technologies (nanoST) are already present in our daily lives, with more than 1000 consumer products identified as containing nanomaterials.

October 2009

Go Home On Time Day – November 25

Each year, Australians work more than two billion hours of unpaid overtime, a new survey by The Australia Institute has found. Around half of all employees work more hours than they are paid for and international comparisons show that Australians work the longest hours in the developed world. In recognition of the extent of unpaid

September 2009

August 2009

The hidden impact of the Global Financial Crisis

Women account for up to 80 percent of Australia’s hidden unemployed, new research into the current economic downturn by The Australia Institute reveals. The report finds that not only are child-care responsibilities the most common reason why women struggle to rejoin the workforce, but those same responsibilities are a major reason that women are excluded

July 2009

The Pacific needs action not words from Australia

Australia is at risk of failing its Pacific neighbours on climate change if the Rudd Government doesn’t move beyond rhetoric to concrete action on mitigation, adaptation and, ultimately, migration, according to a new report by The Australia Institute. The report, ‘A fair-weather friend? Australia’s relationship with a climate-changed Pacific’, finds that despite Labor’s strong commitments

Australian Carbon Trust

The announcement today that Robert Hill will head the Australian Carbon Trust is a triumph of politics over policy. It speaks more about the government’s desire to wedge the opposition than to actually address the flaw in the CPRS, which will make it impossible for ordinary people to reduce Australia’s carbon emissions. Under the CPRS,

June 2009

May 2009

Where has all the revenue gone? To tax cuts for the rich!

The underestimated revenue in the years from 2003-04 to 2008-09 is now running at $83.4 billion. Around half of that has been returned as tax cuts which disproportionately help people earning double or more than average weekly earnings (AWE). The research reveals that as a result of the past and proposed income tax cuts a

Banks gouge 3 cents out of every dollar spent in Australia

The nation’s big four banks are reaping profits amounting to three cents in every dollar spent in Australia. Westpac’s announcement today that its half year profit was $2,175 million brings the total half year profit reported by the big four, Westpac, ANZ, Commonwealth Bank and National Australia Bank, to $8,269 million, or 1.5 per cent

April 2009

True unemployment rate update

An analysis of new Australian Bureau of Statistics data by The Australia Institute reveals that in September 2008 there were 780,900 people who did not have a job, wanted to work but were not included in the unemployment figures. Taking account of these ‘hidden unemployed’ brings Australia’s real rate of unemployment to 11.7 per cent,

True unemployment rate now at 11.3 per cent

The number of Australians out of a job is significantly more than widely reported. An analysis of new Australian Bureau of Statistics data by The Australia Institute reveals that in September 2008 there were 780,900 people who did not have a job, wanted to work but were not included in the unemployment figures. Taking account

February 2009

Rudd neglects the ‘unworthy’ poor

The announcement of a $42 billion stimulus package, which provides thousands of dollars to families earning up to $200,000 and almost nothing to the long-term unemployed, is evidence that the Rudd Government like the Howard Government before it is distinguishing between ‘worthy’ and ‘unworthy’ recipients of government assistance.

December 2008

Choice of Fund fails to engage consumers

The Choice of Fund Policy has failed to resolve widespread consumer disengagement with superannuation. As few as four per cent of workers switch super funds each year and around half of this is ‘passive’ choice due to job change or fund closure. Choice of Fund has also been largely unsuccessful in lowering the number of

General Enquiries

Emily Bird Office Manager

02 6130 0530

mail@australiainstitute.org.au

Media Enquiries

David Barnott-Clement Media Advisor

0457 974 636

david.barnott-clement@australiainstitute.org.au

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