The Australia Institute conducted a national poll of 1,005 people, between 21 May to 23 May 2024, about the United States’ prosecution of Australian publisher and founder of Wikileaks Julian Assange, currently imprisoned and facing extradition to the United States.
Key Findings
Climate & Energy Director Polly Hemming and Research Director Rod Campbell are here to unpack the spin, and give you the facts.
The post The Minerals Council REALLY wants you to feel good about coal: Spin Bin | Video appeared first on The Australia Institute.
This week, Peter Dutton finally released the Coalition’s nuclear power strategy.
Well, sort of…
The Opposition Leader’s uncosted ‘plan’ offers very little detail, while committing Australia to the most expensive form of new energy to build and eschewing cheap and abundant renewables.
“This is the most expensive form of new energy to build, that’ll push up electricity prices. In the meantime we going to see much more polluting fossil fuels staying in the national electricity market for longer.”@ebony_bennett joins @abcnews Breakfast. #nuclear #auspol pic.twitter.com/GfEgzxNGgD
— Australia Institute (@TheAusInstitute) June 19, 2024
When they were last in office, the Coalition had trouble building all the car parks that they promised, so the idea that seven nuclear plants are going to be built from scratch – in a country with next-to-no existing nuclear workforce – is very hard to believe.
Workers’ compensation and rehabilitation are amongst the most important legal issues facing the ‘gig’ economy. This reflects the potential vulnerability of these workers and their families, co-workers, and community to harsh and long term consequences from injuries. For a while, it looked like federal industrial policy might ‘solve’ the workers compensation problem by redefining ‘gig’/platform workers as employees.
However, the policy decision to enshrine minimum rights for a separate ‘employee-like’ category of workers leaves gig workers outside the scope of workers compensation protections.
In this discussion we will hear from those researching and advising on the reforms necessary to better protect injured gig workers, a worker who has been seriously injured, and those who are organising and advocating for policy and law reform.
Free Event – Register Now
Speakers:
When:
Thursday, July 18, 2024 at 12:30 pm AEST
Where:
Zoom
What is driving the current uncertainty about the country’s economic trajectory? Why did the Reserve Bank of Australia (RBA) decide to keep interest rates on hold? And what does the latest data reveal about workplace gender inequality? On this episode of Dollars & Sense, Greg Jericho reflects on the latest interest rate announcement and the barriers to closing the gender pay gap.
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 and Centre for Future Work // @GrogsGamut
Host: Elinor Johnston-Leek, Senior Content Producer, the Australia Institute
Theme music: Blue Dot Sessions
Rising demand as the world emerged from COVID-19 lockdowns, coupled with Russia’s invasion of Ukraine, has led to massive windfall profits for the gas industry. But according to new Australia Institute research, the gas companies aren’t paying royalties on most of the gas they export.
So what exactly is happening to Australia’s gas? How do we compare with other major fossil fuel exporters when it comes to collecting royalties? And what would it take to ensure Australians get a better deal for our gas? On this episode of Follow the Money, the Australia Institute’s Mark Ogge joins Ebony Bennett to discuss Australia’s great gas giveaway.
You can sign our petition calling on the government to collect royalties on Australia’s gas exports on our website.
This discussion was recorded on Tuesday 18 June 2024 and things may have changed since recording.
Guest: Mark Ogge, Principal Advisor, the Australia Institute // @MarkOgge
Host: Ebony Bennett, Deputy Director, the Australia Institute // @ebony_bennett
Theme music: Pulse and Thrum; additional music by Blue Dot Sessions
The results show that most Australians are not prepared to pay anything extra to have nuclear power in the mix.
Key Findings
The post Polling – Willingness to pay for nuclear appeared first on The Australia Institute.
The research finds only one in 20 voters (4%) are prepared to pay more than $500 extra per year for nuclear power, highlighting a lack of support for the technology.
Key Findings
“Our research shows that most Australians have absolutely no appetite when it comes to paying more money to put nuclear power into the energy mix,” said Dr Richard Denniss, Executive Director of the Australia Institute.
“CSIRO research shows that electricity from nuclear power is significantly more expensive than from renewables. The Coalition’s plan is completely uncosted, meaning we have no idea how much this will cost taxpayers when it comes to construction or to their power bills.
“The numbers are clear: Residents across the country, regardless of who they vote for, don’t support a nuclear future that requires them pay more for electricity than they already do.”
On June 18, 2024, the Federal Government announced that Seamless, a clothing product stewardship scheme to make Australian clothing circular by 2030, will be operational on July 1, 2024. The scheme is tasked with addressing the critical problems facing the clothing industry, with over 200,000 tonnes of waste ending up in Australian landfill annually. 62 brands will be signed up as members of the scheme by the time it officially launches. It’s commendable that the Government has taken the initiative to back a scheme addressing Australia’s enormous textiles waste problem.
From July 1, members of Seamless will contribute $0.04 for each new garment placed on the Australian market. $0.04 is not nearly enough of what is needed for the reuse, collection, sorting, decommissioning, recycling, transportation, labour and other costs involved in creating a circular clothing industry in Australia by 2030.
Instead, a contribution of $0.50 for each new garment (a more than 12-fold increase on the current proposal) is a more realistic figure that could support the above-mentioned circular operations. And indeed, there is speculation that the $0.04 levy of Seamless will be raised to a higher fee in the future. In its first 12 months, however, it is likely the initial goals Seamless may instead focus on developing better circular design practices.
The groups say the 2024 State of the Environment Report must be made public before the Government settles its Budget in September and before parliament debates changes that could see the logging of 39,000 additional hectares of native forest, and the over-development of some of the state’s most beautiful coastal beauty spots.
On Wednesday, Tasmanian Planning Minister Felix Ellis allowed a further delay for the Tasmanian Planning Commission to deliver the report, pushing the due date out to August 31.
Consequently, the groups are now concerned the Minister may not table the SOE Report before the parliament rises for the year on November 15, which would mean the report may not be made public until the first sitting week of 2025, which isn’t until next March.
“This delay is yet another example of environmental neglect by the state government, which is threatening the Tasmanian way of life,” said Eloise Carr, the Australia Institute’s Tasmanian Director.
“Chronic underfunding has delayed the report for a decade, and it continues to be delayed for this reason. The funding the Tasmanian Planning Commission received for this report was about one-third of the money it cost to produce the report in 2009.
“The government now needs to commit appropriate funding to implement the report’s recommended actions in this year’s Budget and the Minister should also commit to releasing the report as soon as it is received.
The tour will see Professor Stiglitz speak at events across the country; one of several major speaking tours hosted by the Australia Institute to mark its 30th anniversary.
“Professor Joseph Stiglitz is not only one of the world’s leading economists; he has a unique ability to communicate complex economic ideas in an engaging and informative way. Professor Stiglitz’s imagination and clarity are just what Australia’s public debate needs as we face a cost-of-living crisis, a climate crisis, and declining faith in democracy,” said Dr Richard Denniss, Executive Director at the Australia Institute.
“During his last visit, Professor Stiglitz spoke forcefully about the need for Australia to reconsider the Stage 3 tax cuts and made a strong case for a windfall profits tax on the fossil fuel industry. While the government has delivered much-needed reforms to Stage 3, there is clearly still a lot of room for improvement in the way Australia taxes its gas and coal exports.
“We look forward to welcoming one of the world’s most respected economists and policy advisers back to Australia to help Australians better understand the challenges and the opportunities that face us.
“The Australia Institute is delighted to host Professor Stiglitz at such an important time in Australia’s policy debate, and we are thrilled he can join us to celebrate our 30 years of big ideas,” said Dr Denniss.
The latest taxation statistics released today by the ATO reveal that while the overall gender pay gap might be closing, when we examine the gap across occupations, women continue to earn less than men in almost all occupations.
The taxation statistics reveal the earnings each person makes in a financial year. The figure therefore gives an honest account of how much people actually earn for their labour. Because it is the total amount earned over a year, the amounts take into account those who may earn the same hourly rate but who work fewer hours.
The results are damning for gender pay.
Men had a higher average salary in 368 of the 383 occupation groups. This 96% result is the same as was the case in 2020-21.
The good news (such as it is) is that the gender pay gap improved in 59% of occupations, but it worsened in 41%.
The figures also show that higher-paid occupations are more likely to be male-dominated. Among the 77 highest-paid occupations, where the average salary was above $100,000, only 2 were jobs where women make up more than 60% of the workforce. By contrast 40 of the 70 lowest-paid occupations, where the average salary was less than $45,000, were jobs where women make up more than 60% of the workforce.
In every occupation that had an average salary above $100,000 men had a higher average salary than women, and in only 2 of the top 225 paying occupations did women have a higher average salary.
There are two main ways of participating in cooperative housing: as an owner-occupier (which includes selling rights) or as a ‘non-equity’ renter. In Sweden, owner-occupiers have unlimited occupancy rights (so long as members fulfil their obligations) while renters get more secure tenancy than they would have in the private market.
Although subject to market prices, cooperative dwellings in Sweden, Norway and Denmark are some of the most cost-efficient, good quality, well-maintained and secure forms of housing.
Australians buy an average of 56 new clothing items a year, more than the US (53), UK (33) and China (30).
Circular Economy & Waste Program Director NinaGbor on The Today Show
The post Australians buy more clothes than any other country | Video appeared first on The Australia Institute.
Isn’t a surplus in the current economic climate a good thing? What causes productivity growth? And how do other nations measure unemployment? On this episode of Dollars & Sense, Greg Jericho answers your questions and explains why some commentators are getting giddy for Canadian rate cuts.
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 and Centre for Future Work // @GrogsGamut
Producer: Jennifer Macey // @jennifermacey
Theme music: Blue Dot Sessions
Key Points:
“It is heartening that Premier Malinauskas has identified a level playing field for new entrants as the number one concern of political finance reform, even ahead of a possible High Court challenge,” said Bill Browne, Director of the Australia Institute’s Democracy & Accountability Program.
“South Australia has a proud history of electoral reform, including universal suffrage and preferential voting. The Malinauskas Government’s new bill could follow that legacy, but only if it safeguards diverse voices.
This American presidential election will be unique for many reasons, not the least of which is Donald Trump becoming the first American president to be found guilty of a crime. So what impact – if any – will that have on the outcome? Is Biden going to be able to mobilise enough support in key states to win a second term? And what might another Trump presidency mean for Australia? On this episode of Follow the Money, the Australia Institute’s Emma Shortis joins Ebony Bennett to discuss US politics after her recent trip to Washington DC.
This discussion was recorded on Tuesday 11 June 2024 and things may have changed since recording.
Guest: Emma Shortis, Senior Researcher in International & Security Affairs, the Australia Institute // @EmmaShortis
Host: Ebony Bennett, Deputy Director, the Australia Institute // @ebony_bennett
Producer: Jennifer Macey // @jennifermacey
Theme music: Pulse and Thrum; additional music by Blue Dot Sessions
To hear Machiavelli tell it, 16th century Italy was plagued by expensive, flashy contractors who bled the public, failed to deliver what they promised and then turned around and robbed the ones who paid them.
Those faults will ring a bell for those who have followed the consulting firm scandals exposed over the past year, including misusing government secrets and taking money for buried reports. With the inquiry into the NSW Government’s use and management of consulting services releasing its damning findings earlier this week, and the Senate inquiry into consulting service integrity due any day now, fresh light has been cast on the behaviour of these large, well-paid government contractors – and the picture is no prettier than it was in Machiavelli’s day.
Of course, by contractors Machiavelli meant the mercenary captains whose private armies did most of the city-states’ fighting, but the word, condottieri, literally means contractors, and the parallels are remarkable.
Like the mercenaries, today’s consultants favour style over substance. Academics Mariana Mazzucato and Rosie Collington call this “the Big Con”: the undeserved confidence of consultants tricks clients, journalists, politicians and the public into placing more trust in their words than they deserve. The Renaissance equivalent was for mercenary companies to fight flashy but ineffectual battles. A colourful, if apocryphal, tale has it that at the 1440 Battle of Anghiari mercenary companies fought round the clock with only one death: when a soldier fell off his horse.
Senator David Pocock made headlines last week when, in a press conference at Parliament House, he called gas companies “leeches” that are getting away with “state-sanctioned daylight robbery”.
As Dr Monique Ryan said, “We are allowing multinationals to take our oil and gas and sell it off overseas at massive, massive profits and not pay tax.”
New Australia Institute research shows that governments charge no royalties on 56 per cent of the gas that’s exported from Australia.
Gas companies are getting away with state-sanctioned daylight robbery.
The value in Australian gas should be used to build a better future for Australians, not to inflate the profits of multinationals. pic.twitter.com/wD5XU5WG0N
— David Pocock (@DavidPocock) May 30, 2024
This means that Australians have missed out on at least $13 billion in royalties over the last four years.
Remember that figure next time governments tell you that they can’t afford to spend more on social housing, increasing Jobseeker or supporting victims of domestic violence.
Treasurer Jim Chalmers said “any growth is welcome” at his recent press conference on Australia’s March quarter economic performance.
But the Treasurer was surely hoping to welcome a little more than the 0.1 per cent gross domestic product (GDP) growth we got.
“It’s really hard to sugar coat this,” said Australia Institute Chief Economist Greg Jericho.
“It’s a rounding error away from nothing.”
The story gets worse when you exclude population growth, with GDP per capita falling 0.4 per cent in the March quarter.
“That was the fifth quarter in a row that our economy has contracted on a per capita basis,” Jericho said.
“The last time that happened? Ah, it’s never happened before…”
Treasurer Chalmers described the weak growth as “the inevitable consequence of these rate rises which are in the system.”
Apparently the RBA thinks there is too much demand in the economy. Have they seen the latest GDP figures????
My column. https://t.co/qKdhTKzKXr
— Greg Jericho (@GrogsGamut) June 5, 2024
“The NACC’s decision to not investigate Robodebt makes the Public Service Commission responsible for investigating these alleged wrongdoers and addressing the broader cultural problems exposed by the Royal Commission,” said Bill Browne, Director of the Australia Institute’s Democracy & Accountability Program.
“Australians will wonder why there is a disconnect between the Royal Commissioner, who delayed her report so she could refer potentially corrupt conduct, and the NACC, which decided that it was not in the public interest to investigate that conduct.
While it is true that the super scheme helps many people save for their retirement, the scheme disproportionately benefits wealthier Australians. Superannuation tax concessions come at a huge cost in foregone revenue that is growing so quickly they will soon become more expensive than the age pension. In coming years, the solution will become worse than the problem.
Reform is needed to ensure these concessions are limited to those who really need them. The income level or super balance at which tax concessions cut out should be lowered. This would lead to significant savings in forgone revenue, reduce inequality, and significantly increase the ability of the Commonwealth Government to properly fund the age pension system.
The post Who benefits? appeared first on The Australia Institute.
The report shows superannuation tax concessions help high income earners avoid tax, exacerbate income and gender inequality and come at a huge cost in foregone revenue, and recommends ending or at least limiting superannuation tax concessions for the top 10% of earners and those whose high super balances do not meet the asset criteria for the part pension.
Key findings:
“While super tax concessions are designed to help all Australian workers saving for retirement, the distribution of these benefits is incredibly unequal,” said Dr Minh Ngoc Le, a postdoctoral research fellow at the Australia Institute.
In the latest Labour Accounts released today by the Bureau of Statistics a record, 1.106m jobs held in Australia are being worked by someone who has another job.
The more than 5% fall in real wages over the past 3 years as inflation has soared above wage growth has meant that a record 7.1% of all the jobs in Australia are someone’s second or third (or more) jobs. In the March quarter some 974,000 Australians were working in more than one job. This disparity between the number of employees working multiple jobs and the total number of “secondary jobs” implies that there is now a record number of people as well working more than 2 jobs.
This is not a sign of a healthy labour force.
While it is good that Australians are able to find work, that nearly 1 million are clearly needing to seek more hours form a secondary job suggests that there has been growing problem of working poor.
In the past year, 13% of the new jobs created have gone to someone who already has a job. Until wages consistently grow fast the prices, this trend of ever-increasing proportion of workers taking on another job to make ends meet will continue.
Particularly concerning is the increase in multiple job holders is occurring among older workers. Historically younger workers are more likely to work more than one job, but over the past year, the percentage of workers aged 35-44 holding more than one job has risen from 6.7% to 7.2%.
Since the Intergovernmental Panel on Climate Change (IPCC) released their First Assessment Report in 1990, the Australian Government has subsidised fossil fuel consumption through the Fuel Tax Credits Scheme to the tune of over $200 billion. This year, the OECD called for an end to this long-standing fossil fuel subsidy.
Australia charges a fuel tax (also called a fuel excise) of around $0.49 per litre for common fuels like diesel and petrol. The Fuel Tax Credits Scheme (FTCS) offers a refund of this tax to certain fuel users.
The FTCS meets the World Trade Organisation’s criteria for a subsidy, as it involves government revenue that would otherwise be due, but is foregone or not collected.
The WTO is not alone in viewing the fuels tax credits as a subsidy. As our recent report highlighted, the OECD, the International Energy Agency (IEA), the International Institute for Sustainable Development (IISD), Overseas Development International (ODI) and Oil Change International all recognise the FTCS as a fossil fuel subsidy.
But more importantly, not only is it recognised as a subsidy, it is also recognised as a subsidy that should end.
After multiple interest rate increases in recent years, it’s the economy – not inflation – that’s slowing, with the latest figures showing that the Australian economy grew just 0.1 per cent in the last quarter. So why is gross domestic product (GDP) growth so hard to come by at the moment? On this episode of Dollars & Sense, Greg Jericho discusses Australia’s fragile economy and how governments – and the Reserve Bank – can respond.
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 and Centre for Future Work // @GrogsGamut
Producer: Jennifer Macey // @jennifermacey
Theme music: Blue Dot Sessions
Across the country, house prices have skyrocketed, putting the prospect of buying a home well out of reach for too many people. Rents have also soared, placing huge financial pressure on people and pushing many into homelessness. On this episode of Follow the Money, housing advocate and creator of shitrentals.org Jordan van den Berg, Maiy Azize from national housing campaign Everybody’s Home, and Australia Institute Senior Economist Matt Grudnoff examine how Australia got itself into this situation – and how it can get out of it.
This discussion was recorded on Tuesday 4 June 2024 and things may have changed since recording.
Guest: Jordan van den Berg, Lawyer and Founder of shitrentals.org // @purplepingers
Guest: Maiy Azize, National Spokesperson, Everybody’s Home // @MaiyAzize
Guest: Matt Grudnoff, Senior Economist, the Australia Institute // @MattGrudnoff
Host: Ebony Bennett, Deputy Director, the Australia Institute // @ebony_bennett
Producer: Jennifer Macey // @jennifermacey
Additional editing: Emily Perkins
On paper, the Australian Government’s Future Made in Australia plan is a great idea, making Australia a renewable energy superpower, with more capacity to make clean energy at home and for export.
But simultaneously, the Government is planning for “gas to 2050 and beyond“.
It’s a contradiction that has the potential to undermine our aspirations to become a renewable energy superpower.
Polly Hemming, Director of the Climate & Energy Program at the Australia Institute, unpacks the words and actions of the Government to paint a full picture of the plan for Australia’s energy future.
We recently held a press conference with independent MPs David Pocock and Dr Monique Ryan, launching a new report showing that 56% of gas exported from Australia attracts zero royalty payments, effectively giving a public resource to multinational gas corporations for free.
Australia’s addiction to consultants extends from the public sector to public universities. The final report of the NSW Government inquiry into the use of consultants was released last week. The number one finding is that there is no clear and readily available public record of exactly how much the NSW Government spends on consultants – far from encouraging. If this is the situation for the NSW Government, then what does it look like for Australia’s public universities?
Public universities in Australia spend big on consultants. In 2023, universities in two states alone spent $209 million on consultants – Victorian universities spent at least $72 million while Queensland universities spent a whopping $137 million. Compare this to 2022, when just ten universities across the country spent $249 million on consultants. With amounts like these, is it any wonder then that universities have been accused of being captured by private consultancies? In the meantime, consultancy companies are increasingly partnering with universities to deliver programs, making their continued use more likely.
Oil and gas lobby group Australian Energy Producers (AEP) has published a media release claiming “record” government payments, with “industry expected to pay $17.1 billion in taxes in 2023-24”.1 This briefing note provides context for the AEP claim, and makes other criticisms such as the conflation of royalties and taxes and the unreliability of lobby group data.
The post Gas industry claims debunked appeared first on The Australia Institute.
The anti-siphoning laws, Communications Legislation Amendment (Prominence and Anti-siphoning) Bill 2024, currently before Parliament give free-to-air broadcasters the first opportunity to acquire broadcast rights for sporting events such as the AFL and the Olympic Games, however are currently limited to aerial coverage only (i.e. does not cover broadcasters’ digital streaming services.)
Key Findings:
“Sport plays an important role in Australia’s social fabric, and it’s clear Australia’s anti-siphoning laws need to be updated to keep pace with modern viewing habits,” said Rod Campbell, Research Director at the Australia Institute.
“Given the rise of digital streaming, Australians rightly expect free-to-air sport to be available in the manner which they consume it. It is nonsensical in this day and age to differentiate between free-to-air television broadcast via aerial and free-to-air television broadcast by digital app.
The results show that most Australians support extending anti-siphoning laws to cover digital rights as well as aerial rights.
The post Polling – Anti-siphoning laws appeared first on The Australia Institute.
In light of reports that the Victorian Government is considering privatising the Registry of Births, Deaths and Marriages, the Australia Institute – in a submission to the Productivity Commission’s National Competition Policy Analysis inquiry – recommends an urgent review of outsourced critical services such as electricity, aged, disability and childcare.
Key Findings:
“The privatisation and outsourcing experiment of the past three decades has clearly failed,” said Richard Denniss, Executive Director of the Australia Institute.
“This failure is obvious to any Australian family paying for critical services like electricity, disability care, aged care or childcare.
However, it barely keeps up with inflation and fails to repair the loss in real purchasing power experienced by most Award-covered workers in recent years.
The price of necessities such as housing, energy and food have increased faster than average inflation, causing real incomes for low-wage workers – who spend more of their income on those essentials – to fall further.
Research from the Centre for Future Work shows the real value of most Award wages has lagged behind inflation since 2021 – losing about 4% of purchasing power in that time. It also found an increase of between 5% and 10% was required to keep up with current inflation and undo that past damage.
“Today’s decision, in light of current inflation forecasts, means real wages for Award-covered workers will not change much in the year ahead,” said Dr Fiona MacDonald Policy Director, Industrial and Social at the Centre for Future Work.
“It locks in the recent decline in living standards for Award-covered workers, making it harder for them to manage the challenges of housing prices, insecure work and a weakening economy.
“While the painful reality of lower real wages was acknowledged by the Fair Work Commission in announcing its wage award, its decision does not begin to repair this problem.
Over the last four years, $111 billion worth of liquefied natural gas (LNG) was exported from WA, derived from royalty-free gas.
Key Findings:
“Many Western Australians will be shocked to realise that a large portion of WA’s gas is given away, essentially for free,” said Mark Ogge, Principal Advisor at the Australia Institute.
“In the words of WA Treasury, ‘a royalty is the purchase price for a community-owned resource,’ and ‘the community expects a fair return for its petroleum resources’.
“However, in many cases Western Australians are getting no return at all for the sale of their gas.
“This is a narrative that Trump has been running for a long time, saying that the Department of Justice is in particular, but the entire security state is completely corrupt.”
“Trump has been really effective at weaponising that narrative and in galvanizing his base in particular.”
– International & Security Affairs Senior Researcher Dr Emma Shortis on ABC News
The post Trump Already Weaponising Guilty Verdict | Video appeared first on The Australia Institute.
Inflation is stubbornly staying above the Reserve Bank’s target, but it’s not because Australian consumers are flush with cash, according to Australia Institute Chief Economist, Greg Jericho.
In fact, retail spending figures suggest that people are struggling and further suppressing consumer demand by increasing interest rates could have a detrimental effect on the economy, Jericho said on the latest episode of Dollars & Sense.
“Pretty much since December, inflation has been stuck at that 3.5, 3.6 per cent area.
“Whereas, before that, it had been coming down fairly steadily.
“And so, some economists are getting rather panicky about the fact that inflation is ‘sticky’.”
But that’s not the full picture, Jericho said.
“What I care about as an economist is: are consumers out there spending like mad? And, as a result shop owners are going ‘wow, I’ve got lines around the block – I can raise prices’.
“But what we see in the retail spending figures is that we are not buying much at all.
“That is a real sign that we are not flush with cash, we are not doing well – households are really struggling.”
Among many landmarks was the 1995 establishment of the National Competition Council (NCC) by the Commonwealth and states and territories. At this time there was broad consensus between these governments that more competitive markets would benefit Australia and its citizens.
However, over the last three decades initiatives to deliver competition and contestability to public services, namely through privatisation, outsourcing and deregulation, have repeatedly failed both economically and socially.
This submission, using a framework built on neoclassical economic principles, demonstrates how each failed attempt to add ‘competition’ and ‘contestability’ to a traditionally public service could have been predicted and avoided.
The post Privatised Failure appeared first on The Australia Institute.
The ongoing incarceration of Julian Assange is a case of “punishment-by-process”, said his long-term legal advisor, Jennifer Robinson.
The United Kingdom High Court’s decision to an allow an appeal against his extradition to the United States is a welcome one, said Robinson. But 14 years after Wikileaks published confidential American military and government documents, Assange – the website’s founder – remains in legal limbo.
This uncertainty and the five years he’s now spent in London’s Belmarsh Prison are having a serious impact on Assange’s health, Robinson said on the latest episode of Follow the Money.
This ordeal is the result of a Trump administration decision to indict Assange for publishing material connected to the Afghanistan and Iraq wars, including the notorious Guantanamo Bay detention centre and the killing of journalists and civilians.
“We will be looking at the impact of this material for decades and generations to come.
“And yet, the person responsible for making this available to the public – with hundreds of media partners around the world – is in prison.
“We’ll look back on this time and think ‘how on earth did it take so long? How could we have allowed an award-winning publisher to sit in a British prison?’.”
“The Australian public thinks the gas industry should be paying for the gas.”
“We can keep doing dumb things if we want to. But if this Government wants to have more money for schools, more money for hospitals…there is a simple tax reform opportunity here.”
– Executive Director Richard Denniss on ABC The Business
The post Majority of Offshore Gas Projects Paid ZERO Royalties | Video appeared first on The Australia Institute.
With interest rates refusing to fall below three per cent, some analysts are making dire assessments of the Australia economy. But while so-called ‘sticky’ inflation isn’t great, it’s better than risking a huge drop in demand and a deep recession, according to Greg Jericho. On this episode, Greg examines why inflation is refusing to budge and what policymakers can do about it.
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 and Centre for Future Work // @GrogsGamut
Producer: Jennifer Macey // @jennifermacey
Theme music: Blue Dot Sessions
Australia Institute research has found that 56% of gas exported from Australia attracts zero royalty payments, effectively giving a public resource to multinational gas corporations for free.
Around 80% of Australia’s gas is exported as liquefied natural gas (LNG). Most of this gas is extracted from gas fields in Commonwealth waters, but the Australian Government has failed to levy royalties on gas feeding six of the seven offshore gas LNG export terminals operating in Western Australia and the Northern Territory.
Overall, this means over half the gas exported from Australia is royalty free.
Press conference at Parliament House featuring:
Recorded 11:30am, Thursday 30th May
An hour or so before Trump was due to take the stage at the Libertarian National Convention last Saturday evening, National Chair Angela McArdle appeared at the lectern. McArdle drily observed that the crowd, full of MAGA cap-wearing Trump supporters, was occupying seats clearly reserved for Libertarian Party delegates. McArdle asked them to move, even going so far as to warn them not to make her come down there and “start a chair fight”.
The atmosphere was tense, and felt close to cracking, but McArdle deftly held things together. The Trump supporters moved for the Libertarians, eventually.
Trump was, as McArdle pointed out, there to speak to them, not the adoring fans who had tried to pack out the event. The former president had accepted the invitation in an effort to convince libertarians to vote for him in November – the first time a former president has ever graced them with his presence.
But the libertarians are a skeptical bunch; it was never going to be an easy task.
McArdle was followed by favorite Libertarian comedian David Smith, who reminded the restless audience that “we are not a bunch of college leftist sissies. We believe in free speech, so be respectful…the message that we are sending to the world is not that we can’t handle ideas we disagree with.”
Gas companies are meant to pay royalties for the right to extract and sell Australian gas. But no royalties are paid on 56% of gas exported from Australia. Report author Mark Ogge joined ABC News to discuss.
A new report from the Australia Institute, Australia’s Great Gas Giveaway, shows that over the last four years, multinational companies made $149 billion exporting royalty-free gas.
Australians have missed out on at least $13.3 billion in revenue that could have been raised over the last four years had royalties been charged on royalty-free gas.
The post “Extraordinary” No royalties paid on 56% of gas exported from Australia | Video appeared first on The Australia Institute.
Around 80% of Australia’s gas is exported as liquefied natural gas (LNG). Most of this gas is extracted from gas fields in Commonwealth waters, but the Australian Government has failed to levy royalties on gas feeding six of the seven offshore gas LNG export terminals operating in Western Australia and the Northern Territory. Overall, this means over half the gas exported from Australia is royalty free.
Key Findings:
“Many Australians will be shocked to realise that a large portion of the nation’s gas is given away, essentially for free,” said Mark Ogge, Principal Advisor at the Australia Institute.
“In the words of WA Treasury, ‘a royalty is the purchase price for a community-owned resource,’ and ‘the community expects a fair return for its petroleum resources’.
“However, in many cases Australians are getting no return at all for the sale of their gas.
In view of this, many Australians might be surprised to learn that a large amount of the country’s gas reserves are essentially being given away for free.
Australia has ten facilities that export gas as liquified natural gas (LNG). Six of these projects—four of the five operating in Western Australia, along with both of the Northern Territory’s facilities—pay no royalties, either state or federal. These facilities represent 56% of Australia’s gas export capacity. This means that more than half the gas exported from Australia is given for free to the companies exporting it.
The monetary value of this gas is enormous. The total value of LNG exports over the last four years is estimated at $265 billion. Exports of LNG based on royalty-free gas were valued at a total of $149 billion. To put this another way: in the last four years alone, Australians have given away the gas that made $149 billion worth of LNG, for free. $111 billion worth of this royalty-free LNG was produced in Western Australia.
The billions of dollars in forgone revenue each year from effectively giving away Australian gas for free could be invested in a sovereign wealth fund (as it is in Norway) or used to raise productivity and increase living standards of Australians by funding schools, hospitals, renewable energy, and other needed public infrastructure.
The gas industry does not make a fair contribution to the community. The Australia Institute recommends:
It’s been 12 years since Julian Assange has been free – but is the fight to keep him from a life in an American prison finally coming to an end?
United States President Joe Biden told reporters he’s considering Australia’s request to drop charges against Assange for publishing thousands of sensitive military and government documents, but the fight to free the Australian whistleblower isn’t over.
This episode was recorded on Tuesday 21st May 2024 and things may have changed since recording.
australiainstitute.org.au // @theausinstitute
Guest: Jennifer Robinson, international human rights lawyer and legal advisor to Julian Assange // @suigenerisjen
Host: Ebony Bennett, Deputy Director, the Australia Institute // @ebony_bennett
Producer: Jennifer Macey // @jennifermacey
Additional editing: Emily Perkins
Theme music: Pulse and Thrum; additional music by Blue Dot Sessions
The analysis shows Australia has surpassed the US as the world’s biggest consumer of textiles per capita, much of which is fast fashion that ends up in landfill.
Key findings
The oil and gas industry loves to tell Australians that they pay a lot of tax, but the evidence says otherwise.
Not only has the Australian Taxation Office (ATO) described the oil and gas industry as home to “systemic non-payers” of tax, but new Australia Institute research shows that Australia’s teachers pay twice as much tax as the oil and gas industry.
Read that again if you have to. Teachers pay more in personal income tax than the entire oil and gas industry pays in company tax and Petroleum Resource Rent Tax (PRRT).
Over the last ten years, ATO data shows that all of Australia’s school teachers paid $95 billion in personal income tax, an average of $9.5 billion per year.
By contrast, the oil and gas industry paid $12.5 billion in PRRT and $33 billion in company tax over the last ten years, or an average of just $4.6 billion per year.
In May 2024, the Australia Institute once again surveyed a nationally representative sample of Australians about whether they support, for their own state or territory, each of those 10 policies.
The results show that most of these policies have widespread support across Australia.
The post Polling – Australian attitudes to ACT policies appeared first on The Australia Institute.