A housing policy bonanza it most certainly was not, but related announcements in Budget 2023 included some modestly positive steps that supplement the Albanese Government’s existing array of housing initiatives. These included pledged new spending to ease cost of living pressures for hard-pressed renters, and to fund dwelling energy efficiency upgrades in social housing. On Continue reading »
Economy
The Government’s treatment of climate change in the 2023 Budget is a vast improvement on their conservative predecessors. That said, it continues a pattern of reluctance to face reality on the really big issues which will determine our future as a nation, notably on climate. At a micro level, the budget has much to commend Continue reading »
There were four major changes for health care in the 2023-24 budget: prioritising primary care, funding to strengthen Medicare, cheaper access to common medicines, and new funding to keep the digital health system going. Many of these changes were foreshadowed in recent weeks. The big news on budget night was a tripling of the bulk-billing incentive, a Continue reading »
The best word for this budget is “complacent”. There’s nothing wrong with it; it’s keeping us from getting further into trouble. But it’s doing little to deal with the many troubles we already have: the transition to renewable energy, declining home ownership, the rental crisis, and problems with Medicare and education. And that’s before you Continue reading »
The key to economic development and ending poverty is investment. Nations achieve prosperity by investing in four priorities. Most important is investing in people, through quality education and health care. The next is infrastructure, such as electricity, safe water, digital networks, and public transport. The third is natural capital, protecting nature. The fourth is business Continue reading »
In 2022, Australia exported a record 81.4 million metric tonnes of LNG, earning the industry $92.8 billion (when expected revenue was $44 billion). If all of these windfall benefits were taxed, the revenue could be used to completely rewire the nation and accelerate the shift to a clean energy future. This has not happened and Continue reading »
The historian of American foreign policy Gabriel Kolko would often say that those who seek to determine the destiny of humankind were in for surprises and, ultimately, disappointment. Any vainglorious and limitless ambition to rule the world is doomed to failure, regardless of the state. The world, whether it be the global economy or the Continue reading »
OECD data shows China sustains net gain of scientists while US suffers net loss as ethnic Chinese researchers fear US government surveillance and prosecution. The United States may want to choke off vital supplies of hi-tech gear, especially advanced semiconductors, to China. But, thanks to a “red scare” about industrial espionage and intellectual property theft Continue reading »
At a time when the Reserve Bank’s interest rate rise is adding to cost of living pressures and increasing the chances of a recession, Albanese is finding it hard to justify the staggering $368 billion cost of AUKUS nuclear submarines. Anthony Albanese says it only took him 24 hours to decide to back the AUKUS Continue reading »
The nation is bracing for austere budgets. Grim foreshadowing has prepared us for a challenging federal budget. The Victorian Premier has warned of “very difficult measures” in his state’s budget, and NSW has delayed its budget while the new cabinet grapples with “tough choices”. Budget expectation management is a perennial rite of autumn. But with Continue reading »