August 2020
Australia is about to get ripped off by the gas industry, and it’s not the first time
by Ebony Bennett[Originally published by the Canberra Times, 22 August 2020] The same geniuses who hiked up domestic gas prices, raked in the profits and left Australia with bupkis to show for it are trying to convince us (once again) that Australia has a gas supply shortage requiring huge taxpayer subsidies. So, let me explain
Our 100th episode
In this, our 100th episode of Follow the Money, we celebrate with a special look back at some of our special guests, some of our favourite highlights, worst jokes and some of the interesting topics we’ve covered in the past 99 episodes. Our heartfelt thanks to all our listeners – we’re looking forward to the
The View From ICU
One of the main goals of public health around the world has been to prevent the number of severe cases from overwhelming the hospitals and the health system. We know that severe cases of Covid require intensive care and respirators, but as a novel virus with no vaccine or treatments, clinicians are learning on the
Tasmanians still missing out on revenue from fish farms
Results from Norway’s latest salmon auction again highlights the low price Tasmania is putting on its assets. This week, in Norway, a total of 30 Norwegian salmon farming companies purchased additional salmon licenses worth NOK 5.9 billion or AUD $921.2 million. The Norwegian Ministry of Trade Industries and Fishing stated that it had now sold
Backfire part 2: why a “gas fired recovery” would increase emissions and energy costs and squander Australia’s COVID-19 recovery spending
In this second of our two-part episode on gas, we explore the flaws in the cost benefit analysis of the Santos’ Narrabri gas project in NSW and why it doesn’t stack up economically, environmentally or to create jobs, with Rod Campbell, research director at the Australia Institute.www.tai.org.auHost: Ebony Bennett, deputy director of the Australia Institute
Why TAFE is critical to economic recovery
The Morrison government has said it will increase investment in skills and training if the states and territories sign up to an overhaul of the Vocational Education and Training sector. ACTU President Michele O’Neil, Correna Haythorpe, federal president of the AEU and Alison Pennington, senior economist at the Centre for Future Work at the Australia
Failure to Invest in New Tech Damaging Economy, Incomes & Jobs
Startling new research from the Centre for Future Work shows that Australia’s economy is now regressing in its use of new technology, with negative implications for productivity, incomes, and job quality.
United in a Global Crisis with UN Chief Economist Elliott Harris
In this episode UN chief economist Elliott Harris talks about why it’s risky to withdraw fiscal stimulus too soon and why a clean green recovery makes sense for the long term, in conversation with Richie Merzian, director of the Australia Institute’s Climate & Energy Program. Part of the Australia Institute’s Economics of a Pandemic webinar
TAFE system supports $92.5 billion in annual economic benefits
New research from the Australia Institute’s Centre for Future Work shows the TAFE system supports $92.5 billion in annual economic benefits through the direct operation of TAFE institutes, higher incomes and productivity generated by the TAFE-credentialed workforce, and reduced social benefits costs.
The Australian government is putting economic storytelling ahead of evidence
by Richard Denniss[Originally published by Guardian Australia, 05 August 2020] Australian economic debate relies more heavily on metaphors than it does on evidence, experience or expertise. While the prime minister, treasurer and self-appointed business leaders drone endlessly about what the economy “needs”, they simply refuse to provide any evidence that they know what they are
Julia Gillard on the pandemic, mental health and beyond
Julia Gillard, chair of Beyond Blue and the former Prime Minister of Australia talks about mental health, women in leadership, the importance of government and she looks back on the legacy of the carbon price implemented by her government ten years ago. Recorded live on 5 August as part of the Australia Institute’s Economics of
Key Gillard-Era Reform Carbon Price Would Have Saved 72 Million Tonnes of Emissions
New research from the Australia Institute’s Climate & Energy program shows that had the Gillard Government’s carbon price remained in place, Australia’s emissions would be 25 million tonnes lower in 2020 and 72 million tonnes lower over the last five years. Key Findings: Over the carbon price period, Australia’s emissions declined by approximately 2%, and
The true cost of a traumatised nation
There is a famous thought experiment, known as “the trolley problem”, that asks us to imagine ourselves driving a trolley – or a tram, for Australians – and having to choose between staying on the current track and running over five innocent people or switching tracks to kill only one person. You aren’t allowed to
July 2020
JobSeeker Supplement Cut: 22,000 South Australians Put into Poverty, Including 3,000 Children
New analysis from The Australia Institute shows the Government’s decision to cut the JobSeeker Coronavirus Supplement by $150 per week in September will push 22,000 South Australians into poverty, including 3,000 children. The economic modelling undertaken after last week’s announcement also shows that, nationwide, the cut will push 370,000 Australians, including 80,000 children, into poverty.
Winning a Fair Share: Rebuilding Australia’s Manufacturing Base | Paul Bastian & Jim Stanford
As the pandemic interrupted global supply chains a lot of focus has shifted back onto Australia’s domestic manufacturing capabilities and what Australia has the capacity to make and manufacture onshore and research shows we’re lagging behind. In this episode we talk about the opportunities for manufacturing and why it’s vital to the economic success of
Post-COVID Manufacturing Renewal Represents Potential $50 Billion Boost to Economy
New research from the Australia Institute’s Centre for Future Work reveals that Australia ranks last among all OECD countries for manufacturing self-sufficiency. While this indicator confirms the dramatic decline of domestic manufacturing in recent years, it also reveals the enormous potential benefits that would be generated by rebuilding manufacturing back to a size proportional to our national needs: including $180 billion in new sales, $50 billion in additional GDP, and over 400,000 new jobs.
Let it rip
Some economists have renewed calls to lift restrictions and simply ‘let it rip’, that is to let Covid-19 rip through the population in order to protect the economy. But are economist the right people to ask about this? In this episode we explore the limits of economics with chief economist at the Australia Institute Richard
Unpacking the Mini-Budget: What you need to know
In this episode, Richard Denniss and Matt Grudnoff, chief and senior economists at the Australia Institute unpack what you need to know about the Mini-Budget delivered by the Treasurer and answer your questions. The Australia Institute // @theausinstitute Host: Ebony Bennett, deputy director at the Australia Institute // @ebony_bennett Guests: Richard Denniss, chief economist at
JobSeeker Cut to Push 370,000 into Poverty, Including 80,000 Children
New analysis from The Australia Institute shows the Government’s announcement to cut the JobSeeker supplement by $150 per week would push 370,000 Australians into poverty from September, including 80,000 children. The specially commissioned modelling undertaken after Tuesday’s announcement also shows that the cut will result in hundreds of thousands of Australians would struggle to pay
The Australian government’s decision to cut benefits is based on feelings, not facts
by Richard Denniss[Originally published by Guardian Australia, 22 July 2020] In Australia, policy is far more likely to be based on feelings than facts. While there is much talk about the importance of evidence-based policy, ironically, there is scant evidence that such an approach exists. Take the government’s decision to cut the incomes of around
JobKeeper Review: Scheme Encourages Sacking Casuals, Non-Resident Workers
A new discussion paper from The Australia Institute has shown that the JobKeeper scheme is encouraging businesses to dismiss ineligible employees, meaning casuals employed for less than a year and non-resident workers have been disproportionately affected by job losses in recent months. Key findings: Of those working for a business that received JobKeeper the number
Unpacking JobSeeker
The Morrison government announced it will cut the JobSeeker coronavirus supplement, which had lifted a whopping 425,000 people out of poverty. We talk to Matt Grudnoff, senior economist at the Australia Institute to understand the impact this cut will have on poverty rates, now that there are hundreds of thousands more unemployed people, as well
A Better JobKeeper: Targeting Support to Workers, Businesses in Need
A new discussion paper from The Australia Institute has proposed a model for how the Federal Government’s JobKeeper policy could be reformed, allowing the package to be retained and improved while clawing back spending in situations where the payments are no longer needed. The proposal comprises a model that would see businesses pay increased tax
Victorian Inquiry Offers Novel Routes to Regulating Gig Work
Findings from a landmark inquiry commissioned by the Andrews Victorian government into the work conditions in the “on demand” (gig) economy have been released. The report’s findings are timely with COVID-era unemployment surging and an expanding pool of vulnerable workers relying on “gig” work to meet living costs.
Cutting JobSeeker Would Put 650,000 into Poverty, Including 120,000 Children
New economic modelling from The Australia Institute has shown that if the government removes the JobSeeker Coronavirus Supplement in September it will be forcing more than 650,000 Australians, including 120,000 children, to live in poverty. The new report, from The Australia Institute’s senior economist Matt Grudnoff, also shows that if the supplement is cut, hundreds
G20 analysis: Australian stimulus spending four times more on fossil fuels than clean energy
Ahead of the G20 Finance Ministers’ meeting this week, 14 expert organisations from around the globe, including the Australia Institute, have launched a COVID-19 tracker of fossil fuel and clean energy stimulus. The Energy Policy Tracker shows that the world’s 20 richest countries, who together account for 80 percent of global greenhouse gas emissions, have
Though painful to admit, conservatives know Australia’s tough Covid-19 response is better than the US
by Richard Denniss[Originally publishged on the Guardian Australia, 07 July 2020] Only 16 weeks ago, prime minister Scott Morrison told a bemused Australian public that he was off to the footy to see his beloved Sharks play, and only 15 weeks ago, the same prime minister berated those who went to Bondi Beach for “not
Consumer & Citizen Groups have Serious Concerns About Google Fitbit Takeover
Consumer and citizen groups have significant concerns that Google’s proposed takeover of wearables manufacturer Fitbit would be a game-changer not only for how people interact with the online world but also for digital and related health markets. Regulators around the world – in particular those concerned with antitrust compliance and data privacy – must therefore
Dirty Secret: Fossil Fuels Worst Performing Sector in the Stockmarket
Research published today by The Australia Institute shows that fossil fuel stocks have been the worst performers in the Australian stock market over the last decade. Fossil fuel stocks have lost around half their value in the first quarter this year with the COVID crisis compared to 23% for the wider market, continuing a decade-long trend of
Weal of fortune
Rebuilding the economy means government investment, but not all public spending is equal
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