November 2016
New figures show Australians taking less annual leave
23 November 2016 is National Go Home On Time Day, an initiative which encourages employers and employees to raise awareness of the importance of a healthy work-life balance.
Go Home on Time: Wednesday 23 November
The Centre for Future Work is proud to host this year’s Go Home on Time Day. It’s the eighth annual edition of this event, which draws light-hearted attention to a serious issue: the economic, social, and health consequences of excess working hours.
Interest always trumps ideology
In the modern version of “the battle of ideas” political interests trump political ideology nearly every time. Take, for example, the alleged supporters of “small government” who have been strategically silent as the Australian resource industry pushed for a $100 billion, wholly government owned, nuclear waste dump in South Australia. First published by the Australian Financial Review
Some jobs are more equal than others
When Tony Abbott promised to shed more than 13,000 full time jobs from the public service there was a deafening silence from the Australian business community about the impact of job loss on Canberra communities and families. Likewise, you could hear crickets when Campbell Newman sacked 10,000 teachers, nurses and other Queensland public servants.
Economic Models
Economic models are like a lot of things in life: What you get out of them depends on what you put in. But therein lies the problem. When reporting focuses on the ‘findings’ without looking at what assumptions underpin politically influential economic models, it leaves us vulnerable to what Richard calls the ‘peak-stupid of econobabble’.
October 2016
Interest Rates
Interest rates may be one of the most discussed and least understood area of economics in Australia. Our Chief Economist and Senior Economist discuss the whats and whys of Reserve Bank policy and how interest rates really effect people and the broader economy. Contributors: Richard Denniss – @RDNS_TAI Matt Grudnoff – @MattGrudnoff Ebony Bennett – @ebony_bennett. Produced by
New taxes are not political death
The ACT election result is further proof that Australian conservatives have a tin ear. Either that, or because they spend so much time telling voters scary stories about taxes and public debt that there is simply no time to listen to what the voters are really want. First published by the Australian Financial Review –
What’s Wrong With Privatization?
You know that the tides of public opinion are starting to turn, when even the head of the Australian Competition and Consumer Commission, Mr. Rod Sims, will come out in public and criticize the usual claims that privatization is good for efficiency and national well-being.
Denying The Downside Of Globalization Won’t Stop Populism
The rise of anti-globalization sentiment, including in Australia, poses a big challenge to mainstream politicians who’ve been trumpeting the virtues of free trade for decades.
September 2016
Barnett and Costello: how to waste a boom
Successful investors let their winning bets run while quickly cutting their losses. But while the strategy of “spreading your bets” and “failing fast” might work for venture capitalists, it doesn’t work well for prime ministers. A chief executive that shuts down an underperforming factory is decisive; a PM who abandons Tasmania or regional Western Australia is divisive.
Selectivity: Government ignores $8.4b in carbon price compensation
While the Turnbull government has argued that carbon price compensation for welfare recipients must be cut because there is no longer a price on carbon, the income tax cuts delivered at part of the Gillard reforms will remain, and cost the budget bottom line far more. The government claimed $1.3 billion in savings over the
Poll: ‘Other’ surge in Senate voting intention and strong rejection of Newstart cuts
A new national poll of more than 10,000 Australians has shown the continued strong support for minor parties and independents in Senate voting intentions. The poll also measured opinion on the proposal to cut Newstart. 55% of respondents said the Senate should vote down the cut, just 32% said the Senate should pass the government
August 2016
Tasmanians want salmon boom to be sustainable, regulated
Statewide polling shows Tasmanians want the fast growing industry of intensive fish farming to be better monitored and regulated. New polling of 1,310 Tasmanians conducted by ReachTEL for The Australia Institute shows 70% support for establishing an independent watchdog on intensive fish farms and 61% support for an independent investigation into the impacts of the
Prominent Australians urge PM: Don’t cut Newstart
Comedian Corinne Grant, former Liberal leader John Hewson, award winning author Anna Funder, and businessman John Menadue AO join a list of 32 prominent Australians signing the open letter. The letter reads opens quoting the Business Council of Australia from their submission to the Senate Inquiry into the Adequacy of the Allowance Payment System for
Both risk and opportunity in energy and environment merger
Malcolm Turnbull’s decision to merge the environment and energy portfolios could lead to a breakthrough in the toxic climate politics of climate first triggered when he was rolled by Tony Abbott in December 2009. Full article on Guardian Australia – here. Dan Cass, Strategist, The Australia Institute @DanJCass
Outsourcing census and other disasters
The ultimate irony of neoliberalism is that the buck no longer stops. It just keeps going and going. The company at the heart of #censusfail, IBM, was once paid more than $1 billion to deliver what started out as a $6 million contract to upgrade the Queensland Health Department’s payroll system. For decades we have
Turnbull government cuts policy principles along with welfare
First published in the Australian Financial Review – Here The first order of business for the Turnbull government when Parliament returns next week is to cut the dole for new recipients from $263.80 to $259.40 per week. That is less than the tax free allowance politicians receive for each night they spend in Canberra. It
Budget repair for the poorest, tax cuts for the wealthiest
As Prime Minister Malcolm Turnbull prepares to deliver an address regarding ‘budget repair’ his government is proposing unprecedented austerity for the poorest Australians but generous tax cuts for the wealthiest companies and individuals. At the heart of the PM’s plan to repair the Commonwealth Budget is a plan to slash the budgets of Australia’s poorest
Don’t cut the dole: Poll
New polling shows very low support for Government policy to cut welfare benefits by removing the clean energy supplement. The poll of 1,310 residents across Tasmania showed 60% opposed cutting Newstart, while just 25% supported the move. (see poll below) “There has been mounting evidence of the inadequacy of the unemployment benefits. To cut them
Welfare cuts: a hand up will beat trickle down
If Arrium Steel closes in Whyalla around 8000 people in a town of 22,000 will be looking for work. On average, of every 100 Australians who lose their jobs 30 will still be looking for a new one 12 months later. Unfortunately, the average is much higher when job losses are concentrated in a particular
The Flawed Economics of Cutting Penalty Rates
It was a “sleeper” issue in the recent election, and led to the defeat of some high-profile Liberal candidates. But now the debate over penalty rates for work on weekends and public holidays shifts to the Fair Work Commission. The economic arguments in favour of cutting penalties (as advocated by lobbyists for the retail and
Australias banks the most profitable in the world
Analysis by The Australia Institute of The Banker’s survey of the top 1000 banks around the world showed Australia’s banks make the highest profit as a share of GDP. Table 1 – Bank Profit share of GDP% Rank bank profit share of GDP % 1 Australia 2.9 2 China 2.8 3 Sweden 2.6 4 Canada 2.3 5
Cuts would push dole to record low under poverty line
New research released by the Australia Institute today shows that government moves to cut unemployment benefits will put recipients at 32% below the poverty line . The research also highlights staggering inequality in Australia where the 10 richest Australian families have the same wealth as the poorest 3.9 million Australians combined. “At the time of
July 2016
Mr Coal’s’ super ministry and the challenges of merging energy with the environment
Malcolm Turnbull’s decision to merge the environment and energy portfolios could lead to a breakthrough in the toxic climate politics that was unleashed when Tony Abbott rolled him in the December 2009 leadership coup. Or the new super-ministry and its new minister Josh Frydenberg could be set up for failure. It depends entirely on whether
Election 2016: Why the BCA doesn’t deserve public influence
The Business Council of Australia and the Liberal party just lost a debate with Bill Shorten about the economy. Badly. The days where expensive suits and even more expensive modelling were enough to win a public debate about “what the economy needs” are over. The days where newspaper editors could shift votes are over. The days where governments can deliver unpopular
June 2016
Why the IPA and Libs like Brexit
Britain will now decide which Germans can invest in, or travel to, the UK and the circumstances in which they can do so. The Brexit decision provides clear evidence of the tension within conservative politics between strident nationalism and economic rationalism. And as the business community is discovering, there are enormous economic risks when conservatives
Looking for “Jobs and Growth”: Six Infographics
We have prepared six shareable infographics based on material in our research paper, “Jobs and Growth… and a Few Hard Numbers,” which compared Australia’s economic performance under the respective postwar Prime Ministers.
Cut the Company Tax Rate – Why Would You?
There have been a lot of big claims made about cutting company tax cuts.
Minimum wagers won’t get a trickle-down treat from company tax cuts
It is hard for the benefits of a company tax cut to “trickle down” to workers when employer groups insist on building dams to capture the gains for themselves, writes Richard Denniss. First published on The Drum – here. The Turnbull Government’s claim that a company tax cut will trickle down to benefit workers rests
The public shouldn’t trust business groups like the BCA
It is hard to claim a mandate for something you barely mention, but just as the Turnbull government has stopped talking about the Australian Building and Construction Commission, the business community has now made a TV advertisement for the company tax cuts that, wait for it, doesn’t mention the company tax cuts. It wasn’t meant to be
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