UK Prime Minister Liz Truss’ remarkable decision to scrap her own tax cuts offers an incredible opportunity for the Albanese government. After weeks of outrage from voters, her own backbench and even the financial markets that once trumpeted the benefits of tax cuts, common sense and economic sense combined to deliver a timely, if humiliating, backflip. Here
The post Liz Truss’ spectacular tax backflip gives Albanese a chance to do the sam appeared first on The Australia Institute.
Jim Chalmers has a once in century opportunity to spend a quarter of a trillion dollars on nation building without going into a cent of debt. In fact, if he chooses his public investments well he could drive growth up, cost of living down, and pay down the Morrison Government’s debt faster than currently expected.
The post Jim Chalmers has a unique chance to remake Australia – or to squander $243bn on the rich appeared first on The Australia Institute.
This week the IMF released its latest World Economic Outlook. And the outlook is dire. Economic growth around the world was downgraded with recession-like conditions being predicted for many advanced economies including the USA, UK and much of the EU.
The post With a global recession looming the cure of inflation looks to be worse than the disease appeared first on The Australia Institute.
In the past twelve months low-income earners have seen their real wages fall faster than ever before, their mortgage interest rates rise faster than ever before and, here’s the real kicker: their average tax rates actually increase. To be clear, someone working on the minimum wage has seen the amount of tax they pay rise
The post Even if you were a neoclassical ideolouge, Stage 3 ain’t it appeared first on The Australia Institute.
The latest data from the Bureau of Statistics on families shows that more than ever before couples with dependants are both working.
The post Families change but the same problems remain appeared first on The Australia Institute.
How is it that in Australia, one of the richest countries in the world, we have a housing crisis where hundreds of thousands of renters can’t afford a roof over their head? To figure out why rents are soaring, we need to look at the broader political disease: we have spent about two decades trying
The post Australia’s housing crisis is self-inflicted. We need four reforms to reverse it appeared first on The Australia Institute.
On Wednesday the latest inflation figures showed that in the 12 months to September prices across Australia grew by 7.3% - the fastest rate since 1990.
The post Inflation is soaring and real wages are plummeting appeared first on The Australia Institute.
Talk is cheap, the saying goes, but decades of neoliberalism and failed trickle-down economics means Australia needs to begin some new and more meaningful conversations about the kind of country we want to be.
The post Labor’s budget gives wellbeing focus a pathway to future prominence appeared first on The Australia Institute.
In the past 7 months, the Reserve Bank has increased the cash rate by 275 basis points. That is as fast as any time since the RBA became independent. Given the pace of inflation growth, the rises are not wholly without cause, but as policy director, Greg Jericho notes in his Guardian Australia column the main drivers of inflation are now easing, and wages are yet to take off. In that case, should the RBA continue to raise rates given it will only slow the economy further?
The post Would further interest rate rises do more harm than good? appeared first on The Australia Institute.
Tasmanian MPs will continue to debate new political donations disclosure laws, and amendments to the Electoral Act, in Parliament next week. But will our elected representatives grab this opportunity to introduce truth in political advertising laws for Tasmania?
The post It all adds up for pollies, the truth is out there appeared first on The Australia Institute.