December 2018

The Coalition is determined to spend from beyond the grave

by Richard Denniss [This article was originally published in the Australian Financial Review] It’s easier to develop long-run visions than solve short-term problems, which presumably explains why governments facing election defeat seem to care more about what future governments should do, than what their government isn’t doing. Once upon a time treasurers were responsible for

Workers’ Share of Economic Pie Shrinks Again

For the third consecutive quarter, the share of Australian GDP paid out in wages, salaries and superannuation contributions to workers has shrunk.  Data for the September quarter of 2018, released by the Australian Bureau of Statistics on Wednesday, shows that labour compensation accounted for just 46.85% of total economic output – one of the lowest on record.

November 2018

New Book: The Wages Crisis in Australia

by Jim Stanford, Andrew Stewart and Tess Hardy

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: Australians Owed $106 Billion in Unpaid Overtime, Report Reveals

The 10th annual ‘Go Home On Time Day’ report by The Australia Institute’s Centre for Future Work estimates that Australian employees will work 3.2 billion hours of unpaid overtime for their employers this year, worth an estimated $106 billion in foregone wages.

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.

Negative Gearing: Double-Hit for Under 40s

New analysis from The Australia Institute shows that the biggest winners of negative gearing are high income earners and Liberal Party held electorates, meanwhile it presents a double-hit for under 40s who are the biggest losers. Key results: Those aged over 40 years old receive 71% of the benefit of negative gearing, while those 40

October 2018

Wentworth exit poll: climate inaction and coal key to Liberal vote collapse

The Australia Institute’s exit poll results show the Liberal primary vote collapsed primarily as a result of community concern about inaction on climate change and government support for coal. Key results: Climate change and replacing coal with renewable energy was the biggest single issue motivating voters in Wentworth: 77% of voters said it influenced their

Wentworth exit poll shows Climate and Coal are key issues in Liberal vote collapse

UPDATED The interim results of an exit poll* of 1049 respondents in Wentworth, commissioned by the Australia Institute and undertaken by Lonergan Research, shows the Liberal primary vote collapsed primarily as a result of the community’s concern about the government’s support for coal and inaction on climate change.  “Prime Minister Scott Morrison once brought a

“Permanent Casuals,” and Other Oxymorons

by Jim Stanford

Recent legal decisions are starting to challenge the right of employers to deploy workers in “casual” positions on an essentially permanent basis. For example, the Federal Court recently ruled that a labour-hire mine driver who worked regular shifts for years was still entitled to annual leave, even though he was supposedly hired as a “casual.” This decision has alarmed business lobbyists who reject any limit on their ability to deploy casual labour, while avoiding traditional entitlements (like sick pay, annual leave, severance rights, and more). For them, a “casual worker” is anyone who they deem to be casual; but that open door obviously violates the intent of Australia’s rules regarding casual loading.

It is greed that has led Australian banks to steal from dead people

by Richard Denniss in The Guardian

by Richard Denniss, Chief Economist at The Australia Institute. [Originally published in the Guardian Australia 03.10.18] Greed is good. Or so said Michael Douglas’ character Gordon Gekko in the 1980s hit film Wall Street. Gekko went further, stating “Greed, in all of its forms; greed for life, for money, for love, knowledge has marked the upward

September 2018

Banking Royal Commission most important for Australians: poll

A majority of Australians believe the Royal Commission into Banks and Financial Services has uncovered more wrong doing (70%) and is most important for Australians (65%) compared to the Royal Commission into Trade Unions, according to new polling from The Australia Institute.  Meanwhile, almost a third of Australians (31%) believe the Royal Commission into Trade

Our regulators fail to protect the vulnerable from the greedy. Let’s find out why.

by Richard Denniss in The Guardian

by Richard Denniss. [This article originally appeared on The Guardian Australia 19.09.2018] The royal commission Australia really needs is one into the spectacular – almost complete – failure of our regulators to protect the vulnerable from the greedy. While it is clear that many of our so-called watchdogs are little more than lap dogs, what

Secure long-term housing at half the cost

New research from the Australia Institute and Prosper Australia shows Government could use existing housing schemes to reduce the cost of secure long-term housing by as much as 52%, at no extra cost to the budget. The report shows that the government can create more secure long-term forms of residency, insulated from changes in market

ACT’s Land Rent Scheme sets national example

Canberra’s innovative Land Rent Scheme has been singled out in new research from the Australia Institute and Prosper Australia that shows if applied nationally, Government could significantly reduce the cost of secure long-term housing. Currently the scheme sees over one-thousand Canberra households saving more than $9 million in housing costs per year, at no cost

August 2018

Infographic: The Shrinking Labour Share of GDP and Average Wages

by Jim Stanford

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.

Company tax cuts defeated in the Senate

The Australia Institute welcomes the defeat of the Treasury Laws Amendment (Enterprise Tax Plan No. 2) Bill 2017 in the Senate. “We welcome the defeat of the Government’s big business company tax cut legislation in the Senate,” said Ben Oquist, executive director of The Australia Institute. “Congratulations to Labor, the Greens, and Senate crossbenchers Senators

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

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