Last decade saw Australia’s lowest productivity growth in 60 years, intergenerational report says. Labor to lay out new economic growth plans in response including focus on digital technologies and aiming to become a ‘ #renewableenergy super power’ #lnpfail #Auspol #ausecon

https://www.theguardian.com/australia-news/2023/aug/20/last-decade-saw-australias-lowest-productivity-growth-in-60-years-intergenerational-report-says

Sign Australia’s ‘near-legendary luck in avoiding recessions’ could be running out #recession #ausecon #strayia

https://www.news.com.au/finance/economy/australian-economy/sign-australias-nearlegendary-luck-in-avoiding-recessions-could-be-running-out/news-story/068e6426f2b53212ada71f86662c8666

The Family Home: a shelter from the ... #tax
#auspol #ausecon #housingcrisis #housing#property

https://www.youtube.com/watch?v=woxc6pYPitU#menu

An embarrassment of riches: Why our #corporate leaders are playing it cool on record #profits #australia #ausecon

https://www.abc.net.au/news/2023-08-15/corporate-leaders-play-it-cool-on-profits/102729222

There could be better ways to manage inflation?

#economics #ausecon #auspol

https://www.abc.net.au/news/2023-08-13/philip-lowe-says-there-could-be-better-ways-to-manage-inflation/102722798

Australia's upcoming global minimum #tax is intended to stop offshore #taxevasion. There are doubts it will work.
Next year, #Australia will introduce a global minimum tax aimed at preventing #multinationals based within its borders from evading tax.
As announced in the last federal budget, the new tax will include an additional levy charged to these companies, who have an annual global revenue of at least $1.2 billion.
#ausecon #auspol #taxtherich #pwc

https://www.abc.net.au/news/2023-08-03/global-minimum-tax-seeks-to-stop-offshore-tax-evasion/102616740

Whenever I feel sad about the state #Australia is in, I recall all the bad memories that will never be repeated.

#Auspol #Ausecon

'Same job; same pay' laws would damage BHP's ability to exploit workers.

(Their boss Geraldine Slattery also claims the laws may damage the company's ability to dig up minerals.)

#Auspol #mining #AusEcon

#Superannuation is a heavily rorted inheritance vehicle. It has evolved into a #wealth accumulation and transfer scheme that is exacerbating #inequality. #ausecon

https://www.macrobusiness.com.au/2023/07/superannuation-is-a-heavily-rorted-inheritance-vehicle/

Beating inflation shouldn’t be left to higher interest rates {Wishful thinking Ross, but one has to dream I guess} #ausecon

https://www.smh.com.au/business/the-economy/beating-inflation-shouldn-t-just-be-left-to-higher-interest-rates-20230723-p5dqjj.html

This is a bad thing? Investor exodus threatens house prices https://www.afr.com/policy/economy/investor-exodus-threatens-house-prices-20230721-p5dq4n

#ausbiz #ausecon

While I really hate this story's headline and lede, it's a fascinating dive into the broken structure of Australia's housing market.

A notable point is the soaring number of over-60 landlords is probably the best legacy of the Liberal Party's middle class welfare state.

https://www.smh.com.au/national/fiona-martin-is-a-typical-landlord-but-she-s-not-what-you-expect-20230517-p5d931.html

#ausbiz #ausecon

seriously though, will we? https://www.forbes.com/advisor/au/personal-finance/will-australia-go-into-recession/ #ausecon

The new monthly cpi indicator is noisier than a 21st birthday party!! In April it rose unexpectedly. probably forcing the RBA to hike; now in May it's down sharply, making the central bank look like headless chooks. #ausecon

More Australian homeowners offloading properties at loss as interest rate rises take toll, new data shows.
Unit owners particularly vulnerable as profitable national #housing sales sank to 92.3% in the three months to March 2023, according to CoreLogic data. #propertymarket #ausecon #rba

https://www.theguardian.com/australia-news/2023/jun/28/australian-homeowners-offloading-properties-at-loss-data-interest-rate-rises

Australia needs a national strategy to fix decades of poor housing policies, researchers say | ABC News #Australia

> In a new report published today by the Australian Housing and Urban Research Institute (AHURI), researchers say a national strategy is needed to overcome decades of accumulated policy errors that have contributed to our current #housing crisis.

> They say it will require new federal legislation, new federal agencies, and a new appreciation that people in a civilised society have a right to adequate housing."

https://www.abc.net.au/news/2023-06-15/australia-needs-national-strategy-to-fix-broken-housing-policies/102478490

#Homelessness
#AusEcon

#Australia's lowest-paid workers to get 5.75% increase in minimum wage | The Guardian

Fair Work Commission decision will raise wages for almost 2.75 million workers, but is still about 1% below the inflation rate

The annual wage review decision, released on Friday, indicates the minimum wages will increase to $882.80 per week or $23.23 per hour. For about 180,000 workers on the national minimum award, the rise will be 8.6%.

https://www.theguardian.com/australia-news/2023/jun/02/minimum-wage-rise-award-australia-lowest-paid-workers-5-75-per-cent-increase-wages-from-july-1

#MinimumWage
#AusEcon

Not content with screwing the young on #housing & #education, MPs are continuing the drive to reduce wages.

#Auspol #Ausecon

RT @1petermartin: Economists award Chalmers top marks for budget, but less for fighting inflation: https://t.co/yg8ihp1uux @AusEconSoc @ConversationEDU @ANUCrawford #ausecon #auspol https://t.co/1cfGSspqTS

"Higher rents feed into a higher CPI, which is interpreted by the RBA as a signal to raise interest rates again. Higher interest rates reduce investment in housing and after a time raise rents, and so strengthen the single-instrument case for even higher interest rates."

#AusPol #AusEcon
https://www.abc.net.au/news/2023-05-05/ross-garnaut-rate-hikes-feed-inflation-urges-policy-overhaul/102302152