by Richard Denniss[Originally published on Guardian Australia, 13 May 2020] The government is telling us that if we don’t open up the Australian economy soon, we will do lasting harm to it. But the forecasters at Treasury and the Reserve Bank are relying on economic models that assume the deeper the recession we have, the faster our

by Richard Deniss[Originally published in the Australian Financial Review, 11 May 2020] Would you prefer to double your salary or to double the rate at which it will grow in the next few years? Personally, I would rather a high-income that’s growing slowly. But the Morrison Government is telling anyone that will listen that we

Bank bashing is always popular in Australia and it’s by no means confined to one side of politics. It was the former prime minister Malcolm Turnbull who introduced the big bank levy and gave us the royal commission into misconduct in the financial services industry. And, just last week, Scott Morrison and Josh Frydenberg reportedly “slammed” the big banks for being slow to process loan applications from small businesses waiting to receive their share of the promised $130bn jobkeeper wage subsidy payment.

by Richard Denniss[Originally published on the Guardian Australia, 15 April 2020] Just as economists should never be used to tell Australians what kind of society we “must” live in, medical scientists, and indeed climate scientists, should never be used to tell us what we “must” do. The role of experts is to inform us about

by Richard Denniss[Originally published by The Guardian Australia, 1 April 2020] The Coalition just announced a $130bn wage subsidy when the budget is already in deficit. As that sinks in, try to absorb the fact that the $130bn wasn’t targeted at any vulnerable group and had absolutely no “mutual obligations” attached to it. It was not “funded”

How the secretive trillionaire superannuation funds are using your money to reshape capitalism

by Richard Denniss[Originally published by the Australian Financial Review, 31 March 2020] After a $62 billion shot of adrenalin designed to keep businesses going through the coronavirus crisis, the Morrison government has finally ditched its strategy of “targeted and temporary” measures based on existing policies. Instead, it now wants to put large parts of the Australian

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

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

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

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 Richard Denniss[Originally published on Guadian Australia, 19 Feb 2020] After a summer of catastrophic bushfires, the most brutal evidence of the impacts of climate change, the Government has managed to move the debate towards the ‘pros and cons’ of setting a long-term net zero emissions target for 2050. Well played, Scott Morrison. While #Scottyfrommarketing

by Richard Denniss[Originally published in the Australian Finacial Review, 24 Feb 2020] If you think Ministers handing out sports grants to marginal electorates is a waste of taxpayer money, you need to take a look at the Coalition’s plans to hand out coal fired power stations as well. The former free marketeers in the Coalition

by Richard Denniss[Originally published on Guardian Australia, 05 February 2020] If you think the quality of debate about climate change and bushfires is bad, allow me to give you a glimpse into the debate over the link between the supply and demand of fossil fuels and their price. Spoiler alert – according to the Morrison

by Richard Denniss[Originally published in the Australian Financial Review, 04 February 2020] Scott Morrison loves to say that Australia is on track to ‘meet and beat’ our climate targets, but he’s a lot quieter about where that track leads. Admittedly, saying he plans to double Australian coal exports does provide some big hints. If all

by Richard Denniss[Originally published on Guardian Australia, 22 January 2020] Would the prime minister rule out protecting Australians from terrorism if it cost a single job? Would he promise that no nurse, teacher or other public servant would be sacked in pursuit of a budget surplus? Of course not. But when it comes to preventing

by Richard Denniss[Originally published in the Australian Financial Review, 21 January 2020] Scott Morrison loves to say that Australia is on track to ‘meet and beat’ our climate targets, but he’s a lot quieter about where that track leads. Admittedly, saying he plans to double Australian coal exports does provide some big hints. If all