Off the Charts // Economics
A picture tells a thousand words and Off the Charts is where you’ll find the charts and graphs that tell the most interesting stories. Across all the areas the Australia Institute covers, we give you the pictures that help you understand what is really going on in the world.
September 2024
New figures show capital gains now outstrip wages – and yet mostly they go to the rich and untaxed
The latest figures on Australian wealth reveal that inequality is being driven by capital gains that overwhelmingly go to the wealthiest and are mostly untaxed.
.Public spending keeps the economy going as the private sector is hit by rate rises
Fast rising interest rates have slowed the economy so sharply that only government spending is keeping it growing
August 2024
New figures reveal yet again that wage growth is not driving inflation
The growth of wages under enterprise agreements is now as low as it has been for nearly a year.
The rate rises have cost households and businesses billions of dollars
The rate rises over the past 2 years have seen banks taken billion from households and business in increased interest payments.
.July 2024
Superannuation tax concessions are making inequality worse
Superannuation tax concessions were designed to encourage saving, but instead they are being used by the wealthiest to avoid paying tax
June 2024
Wages are clearly not driving inflation as new data shows wage growth is falling
With wage growth already falling, further interest rate rises would only serve to punish workers who are already suffering.
The tax stats show the gender pay remains widespread across almost all occupations
The 2021-22 taxations statistics show that men have a higher average salary in 96% of all occupations
“Sticky inflation” is not Australian workers fault and higher interest rates and lower wages won’t solve it
Australia’s inflation is rising and falling in line with the experience in Canada and the USA despite the RBA not raising rates by as much as did the central banks in those two countries.
It is time to abolish the expensive Fuel Tax Credit that incentivises fossil fuel use.
The OECD has recently called for the end of Australia Fuel Tax Credits Scheme, which is growing in cost every year.
Australian public universities are now spending millions on consultants
Figures from Queensland and Victoria reveal that public universities spend over $200m on consultants, while students HECS/HELP debt soar.
May 2024
Teachers pay more tax than the oil and gas industry
Oil and gas companies claim they pay the wages of teachers and other public sector services, but teachers actually pay twice the tax.
No, the budget is not inflationary
For a budget to be inflationary there needs to be actual evidence of surging demand. In this budget we have the opposite
.Gas industry emissions will cost us much more than their so-called economic benefits
The emissions from the gas industry are delivering a devasting cost to our future
The decision to scrap the levy on waste exports means more plastics will end up in landfill
Most plastic Australians use already ends up in landfill and the decision to scrap the levy on waste exports will only make things worse
“Sticky” inflation does not mean more rate rises are needed
The majority of items driving inflation now are not responsive to further rate rises
.April 2024
Federal funding for private schools
In 2024, the Commonwealth Government will spend an estimated $29.1 billion on schools in Australia. More than half of this – $17.8 billion – will go to private schools.
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
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
March 2024
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.
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
New data shows many businesses are now using non-compete clauses – and that’s bad for workers.
Non-compete clauses limit the ability of workers to seek better pay and conditions and not surprisingly employers love them.
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.
For more affordable housing we need more public housing.
Public housing was once much more common – we need more public housing rather than rely on private landlords to keep prices down
The capital gains discount and negative gearing benefit the rich and destroy housing affordability
We need to stop giving billions to high income earners that just exacerbates the housing crisis
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.
January 2024
Sorry, but Stages 1 and 2 did not make Stage 3 fairer. Only changing Stage 3 did that
The total tax package designed by the Morrison government was not fair because Stage 3 was so clearly directed to giving money to those on high incomes. The new changes improve the entire package.
Wages continue to reduce inflationary pressures
The latest enterprise agreements figures show that wages continue to grow in line with long-term inflation targets, and that wages continue to provide a dampening impact on inflation.
SUVs and utes are no longer just work vehicles, but tax-subsidised behemoths
It is clear the massive increase in SUVs and utes is not due to more tradies or those using them on weekends, but because out tax system encourages the purchase of these behemoths to the detriment of our roads, our safety and the climate.
Curated by
Off the Charts is curated by Greg Jericho, Chief Economist at the Australia Institute and the Centre for Future Work.
General Enquiries
Emily Bird Office Manager
mail@australiainstitute.org.au
Media Enquiries
Adam Gottschalk Media Advisor
adam.gottschalk@australiainstitute.org.au