E&OE TRANSCRIPT — PRESS CONFERENCE 1.45pm SUNDAY, 22 MARCH 2020 MURAL HALL, PARLIAMENT HOUSE Response to Second Stimulus Package Dr Richard Denniss, Chief Economist, The Australia Institute Matt Grudnoff, Senior Economist, The Australia Institute Dr Richard Denniss: The Australia Institute welcomes the announcement by the prime minister and treasurer today of the second round of

The Government’s second economic stimulus package in response to the Coronavirus is a package of positive small short-term measures but provides no long-term secondary benefit.  However, better measures will also need to be put in place to ensure the stimulus gets out more quickly. Furthermore, there is a real risk effected employees will not receive

New research shows an overwhelming majority of Australians (82.5%) support the ACTU proposal that the Government guarantee two weeks paid leave for all workers who are forced to self-isolate as a result of COVID-19.  The Australia Institute surveyed a nationally representative sample of 1,723 Australians on the night of 18 March 2020. Key Findings: An overwhelming

by Ebony Bennett[Originally published by the Canberra Times, 21 March 2020] After a summer of unprecedented bushfires and a billion animals dying, Australia now finds itself in the midst of an unprecedented public health pandemic with an economic crisis to match. While the $17.6 billion economic stimulus program was welcome for an already sluggish economy,

For decades, Australians have been sold an imagined poverty. We have been told we need to “rein in” government spending – that if we want to spend more on health or education, we will need to spend less on the age pension or childcare. The Coalition even has an arbitrary cap on the size of

The scale and scope of the economic downturn caused by COVID-19 will be unprecedented in our lifetimes. Mainstream economists have belatedly realised the pandemic will cause an economic downturn, but they are not yet appreciating the size of that downturn, nor the unconventional responses that will be required. Simply calling for government “stimulus” is sadly inadequate, given the complete shut-down of work and production that is occurring in many sectors of the economy. The task is no longer supporting markets with incremental “pump-priming.” What’s needed is a war-like effort, led by government, to mobilise every possible resource to protect Australians’ health and livelihoods. Money is not an object – and this epic effort should not be held back by normal acquiescence to private-sector priorities and decisions.

New research from The Australia Institute has found that a majority of Australians (52%) want to see Newstart boosted to the rate of the Age Pension for the course of the Coronavirus crisis, while one in three Australians (34%) oppose the idea. Key findings: –          The maximum single rate of Newstart is currently $559 per

“Looking at the Government’s coronavirus stimulus announcement, one thing stands out: the size is right for the initial response but the shape is wrong. The most effective form of stimulus makes up less than a quarter of the total package,” said Matt Grudnoff, Senior Economist at the Australia Institute, responding to the Morrison government’s stimulus

If you thought the prime minister was slow to respond to the bushfire crisis, take a look at his response to Australia’s ailing economy. Morrison is currently trying to pivot away from the government’s economic inaction using the coronavirus outbreak as cover, but the only reason the coronavirus might push Australia into recession is because the economy has been languishing since the Coalition took office in 2013.

by Richard Denniss[Originally published in the Australian Financial Review, 02 March 2020] In the summer of 2010, devastating floods hit Queensland killing 33 people, causing billions of dollars in damage, shutting coal mines, and knocking an estimated $30 billion off GDP. The then Labor Government’s promise of a budget surplus was washed away too. Fast

by Ebony Bennett[Originally published in the Canberra Times, 07 March 2020] It might be time to panic. Not about running out of toilet paper, the real danger is that the Morrison government will undercook its mooted fiscal stimulus package and risk sending Australia into recession to prove an ideological point. The economy has been weak

New research by the Australia Institute shows the Government’s objective of achieving a budget surplus ignores the consequences of such an economic strategy—leaving Australian taxpayers to bear the burden of less government services, despite paying their taxes. The report reveals that the present Government commitment to return to a surplus of at least one per

There has been much discussion in recent months about the apparent slowdown in Australian productivity growth. Rather than dredging up the usual wish-list of the business community (more deregulation, more privatisation, and more deunionisation), it’s time to look at the deeper, structural factors behind stagnant productivity. In this commentary, Dr. Anis Chowdhury, Associate of the Centre for Future Work, looks to the perverse role of our overdeveloped financial sector in slowing down productivity-enhancing investment and innovation.

Today’s announcement by the Australian Bureau of Statistics that GDP grew by 0.5% seasonally adjusted for the quarter and 2.2% over the last year shows the Australian economy remains sluggish. “Today’s figures confirm that GDP in Australia is still stuck in the slow lane. The last time the Australian economy grew above its long run

A part-time cleaner earning $18,000 a year will receive zero tax concessions for their compulsory superannuation contribution; meanwhile, a chief executive of a big bank can get tens of thousands of dollars every year in taxpayer support for their “retirement nest egg”. This is the strange world of Australia’s retirement income system: a world in

by Ebony Bennett[Originally published in The Canberra Times, 22 February 2020] I’m not a revhead, but I come from a Holden family. Not a Holden worker family, but the type of Holden family that used to get up before sparrow’s fart to catch the bus five hours to Bathurst to watch Peter Brock race (my

An open letter signed by Australian and international forestry and climate experts, published by the Australia Institute today, has called for the immediate nationwide cessation of all native forest logging in response to the climate, fire, drought and biodiversity loss crises currently facing Australia. The letter, signed by scientists from countries including Australia, USA, Canada, New

New analysis from the Australia Institute shows that superannuation tax concessions are almost as large as the cost of the aged pension and growing at twice the rate. Key Findings: According to the latest Treasury release of the Tax Benchmark and Variations Statement, superannuation tax concessions are expected to reach $41.3 billion in 2019-20 and

In a new guest commentary for the journal Canadian Dimension, Centre for Future Work Director Jim Stanford argues that existing power relationships in the labour market are being reinforced, more than disrupted, by the process of technological change.

Centre for Future Work Director Jim Stanford gave a seminar presentation in Sydney on 21 November based on his research paper about the historical and empirical relationship between superannuation contributions and wage growth.

New national survey research from The Australia Institute reveals most Australians have been personally impacted by the bushfires and smoke, including millions missing work or suffering health impacts. Additionally, the research shows concern about the impacts of climate change are especially high among those directly affected by the fires, as is the wish for the

The Australia Institute wishes Premier Will Hodgman, one of Tasmania’s most popular premiers, all the best for his future endeavours. The Premier can be proud of many of his achievements, particularly leading the government into a pro-renewable energy stance. Will Hodgman’s retirement will present both a challenge and opportunity for the Tasmanian Government, The Australia

by Richard Denniss[Originally published in the Australian Financial Review, 07 Jan 2020] If Australia and other countries meet their current emission reduction targets bushfires are still going to get much, much worse. Over the past century, humans have caused the world to warm by one degree, but if Australia and the rest of the world

New research from The Australia Institute has revealed that nearly one third of Australians (30%) are expecting to receive a gift that they will never use this Christmas.  Three in ten (30%), or approximately 7.3 million Australians will receive gifts they expect they will never use or wear this Christmas, representing a total value of

New Research from The Australia Institute has revealed that a majority of Australians would like to see Newstart recipients receive a bonus payment to help meet the increased costs of the holiday period. Key findings; Two in three Australians (63%) support a holiday supplement for Newstart recipients. Only 25% oppose a supplement A majority of

New research released today by the Australia Institute shows that airports in Australia are exploiting their monopoly power to make excessive profits, and that this major issue is being overlooked by the Productivity Commission. Over the Christmas holiday period, Australia’s airports are likely to be busier than ever. And as a result, passengers are going

New analysis of MYEFO papers by the Australia Institute shows the Budget surplus is based on an accounting trick that sees, for the first time, earnings from the Future Fund included in the budget bottom line. This fact is hidden in small print under the detailed tables. This MYEFO trick, changing the accounting rules mid-stream,

New research shows that the Kimberley region is set to experience a dramatic increase in extreme heat including up to a tenfold increase in days over 40 degrees in Broome if greenhouse gas emissions are not reduced in line with the Paris Agreement.   The report, by the Australia Institute using CSIRO and BoM data, shows

A new report from The Australia Institute has shown that potential Government plans to outlaw so called ‘secondary boycotts’ would require significant legislative reform, could threaten the implied freedom of political communication in the Australian Constitution and ignores a long history of consumer choice protests in Australia. “Attempts to outlaw consumer choice amount to a