Gabriel Leonard, Donald Morgan, and Wilbert van der Klaauw

On this episode of Follow the Money, Greg Jericho, Chief Economist at the Australia Institute, joins Glenn Connley to discuss the government’s modest proposal to change the superannuation tax concessions and the bizarre backlash to the policy.

This discussion was recorded on Tuesday 28 May 2025 and things may have changed.

Order After America: Australia and the new world order or become a foundation subscriber to our Vantage Point series and save 25% on the Australia Institute website.

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

Host: Glenn Connley, Senior Media Advisor, the Australia Institute // @glennconnley

Show notes:

Don’t be fooled, only the very richest will ever have more than $3m in super by Greg Jericho, the Australia Institute (May 2025)

Everybody’s Home looks forward to working constructively with the new Shadow Minister for Housing and Homelessness Andrew Bragg, and urges the Opposition to ditch discredited policies in favour of real solutions.

The national housing campaign is asking the Coalition to back serious solutions to Australia’s housing crisis and make affordability a top priority.

Everybody’s Home is calling on the shadow ministry to back:

• A major expansion of social housing with an aim to deliver 940,000 new homes in the next two decades
• A phase out of unfair tax handouts to property investors
• National protections for renters
• A boost to income support to keep people housed and out of poverty.

Everybody’s Home spokesperson Maiy Azize said: “Voters made it clear at this election that they expect the government to step up and help people by building homes that people can afford, not pushing failed ideas that will leave them worse-off in the long-run.

“We look forward to engaging constructively with the Opposition’s spokesperson for housing and homelessness, Senator Andrew Bragg. This is an opportunity for the Opposition to respond to what voters really want: real action on housing that makes homes affordable and secure.

While Australia’s electoral institutions are among the best in the world – like an independent electoral commission, Saturday voting, full preferential voting and compulsory voting – they are not perfect.

Lies in advertising and text spamming are among six key problems identified by The Australia Institute from the campaign, which suggests reforms to fix these areas of concern to safeguard Australia’s democracy.

A poll of 1500 voters was conducted by YouGov in the final week of the election campaign, asking Australians whether they’d seen misleading advertisements.

The government’s Safeguard Mechanism is the key policy designed, apparently, to set Australia on the path to a low-emissions economy.  According to the government’s website, the mechanism “requires Australia’s highest greenhouse gas emitting facilities to reduce their emissions in line with Australia’s emission reduction targets of 43% below 2005 levels by 2030 and net zero by 2050”.

You might then be wondering how is Woodside Energy’s massive existing North West Shelf fossil gas processing facility, which is one of the biggest emitters of CO23 in Australia, is faring under this policy. Surely the Safeguard Mechanism has caused a big change in how it operates?

Alas no. The simple answer is that under the Safeguard Mechanism,the North West Shelf Facility isn’t enacting deep, structural emissions reductions. Woodside happily knows the “Safeguard” part of the Mechanism is safeguarding Woodside and other heavy emitters from having to worry about reducing emissions.

The policy isn’t imposing any material cost on the corporation or affecting the impending approval of the extension of this site for 40 years.

Using the latest data release from the Safeguard Mechanism, here’s a fun collection of facts about the North West Shelf project, and Woodside Energy:

The effects of screens on children are even worse than you can imagine: they can literally break down the human body. In her forthcoming book, The Tech Exit: A Practical Guide to Freeing Kids and Teens from Smartphones, Clare Morell tells the story of an optometrist who discovered that an eight-year-old girl seeking relief from pain in her eyes no longer had Meibomian glands—which means her eyes cannot produce lubricating tears. Hours of daily digital screen time had trained the child to stare, which dried up her glands. At such a tender age she runs the risk of eventual blindness, as do thousands of other pediatric patients with her diagnosis. It is a fitting illustration of the tragic phenomenon that technology is having on human beings: pained children with blank stares who are unable to cry tears.

In a discussion with James Poulos, Morell explains that well-meaning parents should not simply set up safeguards to filter out the toxic effects of addictive technology. This is like advising a drug addict to use only less frequently, even though every dose is toxic, mind-altering, and possibly laced with a deadly synthetic.

Updated 30/05/2025

The outer-Melbourne electorate of Calwell was named “Australia’s most unpredictable seat” by The Age after the election and was – aside from those going to a recount – the last seat to be called. The AEC labelled the counting process for the seat “likely the most complex in Australia’s history”.

The count is complicated because, while Labor led on primary votes, the Liberals, Greens, and three independents each had a significant share of the vote. The AEC had no idea which candidate would make it to the final two alongside Labor, and then if any of them could win from there. In a very rare case, the AEC had to conduct a full count of the seat to an estimate of the final result, which still hasn’t finished (though Labor now seems assured of victory).

Calwell is extra interesting, because it is diverse. It’s one of the handful of electorates in Australia where most people speak a language other than English at home, as well as having one of the largest Muslim populations. Two independents and the Greens candidate made Labor’s response to the genocide in Gaza a significant issue in their campaign.

125 billion worth of liquefied natural gas (LNG) has been shipped out of Gladstone, but 9 out of 10 companies involved in Queensland gas exports have paid zero company tax in this time, according to the latest data from the Australian Taxation Office (ATO).

Despite the huge volume of gas being extracted, domestic gas prices have increased significantly, pushed up by excessive gas exports.

Key points:

• $125 billion in LNG has been sold out of Queensland over the last ten years, by companies that reported $330 billion in total Australian revenue to the ATO.
• The only company involved in Queensland LNG exports to have paid tax in the last ten years is Australia’s Origin Energy, which paid a total of $966 million, not all of which relates to LNG.
• None of the foreign-owned companies involved have paid company tax on Queensland LNG exports.

“The gas industry’s annual conference is in Brisbane this week and they will be at pains to avoid talking about tax,” said Greg Jericho, Chief Economist at The Australia Institute.

“None of the foreign-owned giant gas corporations like ConocoPhillips or Total, that export gas out of Queensland, have paid a cent in company tax.

“The burning of gas and other fossil fuels is driving disasters like the floods in NSW.

“Gas companies are cashing in while Australian communities are picking up the costs.

A new report purports to provide a roadmap for accountability at the Oregon Department of Transportation.  In short, its a work of conflicted consultants, with a long history of cost overruns and excessive spending, offering slightly recycled versions of measures that have failed to control costs for the past decade.

Oregon’s highway department has a problem with chronic cost overruns.  The report from AtkinsRéalis-Horrocks purports to address this problem, but actually offers more the same.  These consultants have failed to clearly diagnose the underlying problem, have significant conflicts of interest, have their own long history of cost overruns and excessive spending, and are offering slightly recycled versions of measures that have failed to control costs for the past decade.

The authors of the management review—two senior sales executives at consulting firms hoping to expand in Oregon—have conflicts of interest that are not disclosed or addressed.

In their time working in the Utah and Colorado, their respective state highway departments racked up massive cost overruns on major highway projects (Utah), and were found to have spent excessively on consultants and violated state laws regarding contract bidding (Colorado).