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On 9 May 2024, a week before the much anticipated Federal Budget, Minister for Resources Madeleine King unveiled the Australian Government’s Future Gas Strategy. This 110 page report sees gas as central to Australia’s domestic energy use and export portfolio “to 2050 and beyond”. As she announced it, Ms King also declared that gas will be central to achieving carbon neutrality by 2050 as it will not only be economically necessary but would help to “firm renewables”. As we heard Ms King’s announcement, and read the report, we felt a sense of déjà vu. What is proposed sounds remarkably like the former Coalition Government’s “Gas Lead Recovery” announced in 2020 by then Prime Minister Scott Morrison.

Superannuation tax concessions are meant to encourage saving for retirement, but the system is being gamed to help the wealthiest avoid paying tax. Australia Institute Chief Economist Greg Jericho joins Ebony Bennett on this episode of Follow the Money to bust some super myths and discuss what a fairer system should look like.

This discussion was recorded on Tuesday 30 July 2024 and things may have changed since recording.

Guest: Greg Jericho, Chief Economist, the Australia Institute // @GrogsGamut

Host: Ebony Bennett, Deputy Director, the Australia Institute // @ebony_bennett

Show notes:

‘Who benefits? The high cost of super tax concessions’ by Minh Ngoc Le (June 2024)

‘Superannuation tax concessions are making inequality worse’ by Greg Jericho (July 2024)

Theme music: Pulse and Thrum; additional music by Blue Dot Sessions

You can see Professor Joseph E Stiglitz speak live in several cities across Australia as part of the Australia Institute’s 30th anniversary celebrations. Tickets are available via our website.

On this episode of Dollars & Sense, Greg and Elinor discuss Australia’s uncompetitive airline industry, the cost of privatising essential public services, and the latest inflation figures.

Greg Jericho is Chief Economist at the Australia Institute and the Centre for Future Work and popular columnist of Grogonomics with Guardian Australia. Each week on Dollars & Sense, Greg dives into the latest economic figures to explain what they can tell us about what’s happening in the economy, how it will impact you and where things are headed.

Host: Greg Jericho, Chief Economist, the Australia Institute // @GrogsGamut

Host: Elinor Johnston-Leek, Senior Content Producer, the Australia Institute // @ElinorJ_L

Theme music: Blue Dot Sessions

We’d love to hear your feedback on this series, so send in your questions, comments or suggestions for future episodes to podcasts@australiainstitute.org.au.

As a parent, I’m always careful to remind them that super powers are fun for pretending, but they are not real.

Unfortunately, it’s hard to teach this to kids when federal government ministers say things like “green hydrogen is at the heart of our vision for Australia as a…renewable energy superpower.”

SOCK! POW! KAZAAM!

As much as kids and ministers might like to play green hydrogen superpowers they should not be used when crossing the road or formulating tax and energy policy.

Which brings us to the federal government’s Hydrogen Production Tax Incentive, which was open for consultation until last Friday.

This program will see the Government subsidise eligible hydrogen production by $2 per kilogram. Budget documents (p68) give an estimated cost of “$6.7 billion over ten years from 2024–25 (and an average of $1.1 billion per year from 2034–35 to 2040–41).”

The FMAA aims to support investment in Australian value-added manufacturing initiatives relating to the renewable energy transition. While it remains to be legislated, the budget suggests the FMAA will entail approximately $23 billion of new public spending over ten years. The majority of this is accounted for by two new tax credits which incentivise private investment into domestic critical minerals processing and renewable hydrogen production. These credits are available from 2027 and, while currently uncapped, are estimated to entail $13.7 billion in public industrial support by 2035-35. Also notable is approximately $4.5 billion in new funding for the Australian Renewable Energy Agency (ARENA) across several new initiatives, providing grants, subsidies, and investment for the manufacturing and development of renewable technologies, including batteries and solar panels.

The average pay for the principal of an elite private school in Sydney is about $687,000 a year. At least four get a salary and benefits package worth over $900,000, and one of those is on over $1 million a year.

It took the leak of confidential data to find this out because, despite being heavily subsidised, private schools in most parts of Australia don’t have to tell anyone what they pay their headmasters. The Australian Charities and Not-for-profits Commission’s reporting requirements come close, but they don’t require schools to say how much they pay individual staff in particular positions.

Even if $600,000 is only a rough estimate, it’s a lot more than the principals of NSW’s public schools get. Their salaries – which are published by the NSW Government – range between $140,000 and $216,000 a year. Seek puts the average pay for a school principal in Australia at between $165,000 and $185,000 a year.

This pay gap is symptomatic of the widening inequality between the ‘haves’ and the ‘have nots’ of our education system.

The Victorian Electoral Matters Committee recommendations include:

• Truth in political advertising laws.
• Changes to how the Victorian upper house is elected.
  • The Committee acknowledges that “If group voting tickets were eliminated but the current structure of regions continued, major parties would likely be over-represented in the Upper House and there would likely be fewer minor parties and less diversity”.
• Prohibiting groups other than the Electoral Commission from distributing certain postal voter applications.
• Improving access to polling places for voters with disabilities.
• Parties to establish codes of conduct for their members in relation to their behaviour on social media.
• Further restricting which party names, abbreviations and logos can be registered, as is the case at the Commonwealth level.

“The Victorian Electoral Matters Committee has conducted a thorough and detailed investigation that gives the Victorian public a lot to consider,” said Bill Browne, Director of the Australia Institute’s Democracy & Accountability Program.

“With the multi-party Committee repeating its recommendation for truth in political advertising, there is no excuse for further delays from the Victorian Government.”

Truth in political advertising

“In Victoria, it is perfectly legal to lie in a political ad, and it shouldn’t be,” said Bill Browne.

This article was originally published, in slightly different form, on Parking Reform Network. It is shared here with permission. All pictures were supplied by the writer.

This article was originally published, in slightly different form, on Public Square, a CNU journal. It is shared here with permission. All pictures were supplied by the writer.

Historian Dr Prudence Flowers joins Dr Emma Shortis to discuss the politics of reproductive rights in American politics, Project 2025 and the wave of support for Kamala Harris since Joe Biden’s withdrawal from the race.

This discussion was recorded on Friday 12 and Thursday 25 July 2024 and things may have changed since recording.

1800RESPECT is the national domestic, family and sexual violence counselling, information and support service. Call 1800 737 732, text 0458 737 732, chat online or video call via their website.

Guest: Prudence Flowers, Senior Lecturer in US History, Flinders University // @FlowersPGF

Host: Emma Shortis, Senior Research for International & Security Affairs, the Australia Institute // @EmmaShortis

Show notes:

‘‘Kamala IS brat’: how the power of pop music has influenced 60 years of US elections’ by Prudence Flowers, The Conversation (July 2024)

On this episode of Dollars & Sense, Greg Jericho discusses the economic impact of a second Trump presidency for Australia and the region – and why four more years of Trump could be a disaster for the climate.

Greg Jericho is Chief Economist at the Australia Institute and the Centre for Future Work and popular columnist of Grogonomics with Guardian Australia. Each week on Dollars & Sense, Greg dives into the latest economic figures to explain what they can tell us about what’s happening in the economy, how it will impact you and where things are headed.

Host: Greg Jericho, Chief Economist, the Australia Institute // @GrogsGamut

Host: Elinor Johnston-Leek, Senior Content Producer, the Australia Institute // @ElinorJ_L

Theme music: Blue Dot Sessions

We’d love to hear your feedback on this series, so send in your questions, comments or suggestions for future episodes to podcasts@australiainstitute.org.au.

1. Fossil fuel exports.
   Minister Bowen did not address, and no one asked about, the fact that Australia is the world’s third largest fossil fuel exporter. With over 100 new fossil fuel projects in the development pipeline, as well as four new coal mines and at least 116 new gas wells approved since 2022, the Australian Government shows no intention of changing this status. Just this week, the government opened areas of Commonwealth waters off the coasts of South Australia, Victoria and Tasmania for offshore gas exploration.
2. Emissions outside of electricity.