Such simple stories are likely part of the explanation why polling by the Australia-China Relations Institute finds three-quarters of Australians think our economy is “too reliant on China”. In the middle of last year, indicators emerged that China’s large, and iron-ore-hungry, property construction sector was struggling. This meant, according to an analysis published by News.com.au,…
Australia’s economy grew a mere 0.4% in the June quarter according to figures released by the Bureau of Statistics today, a performance Treasurer Jim Chalmers describes as “steady in the face of unrelenting pressure”. The lacklustre growth follows growth of 0.4% the previous quarter, and is a step down from the growth of 0.7% in…
A group of crossbench parliamentarians have revived the idea of increasing the rate of the goods and services tax from 10% or removing exemptions on food, education and health purchases. The group, which includes Allegra Spender and David Pocock, say increasing the GST rate would raise revenue to lessen government dependence on income tax as…
What if nearly everything that’s been written about this month’s Intergenerational Report is wrong? I’ll explain. But first, here’s a sample of the headlines: “Young Australians at risk of a poorer future”, “Fewer workers to shoulder soaring income tax”, “Ageing population driving $140 billion blowout in spending”, and so on. On radio it was worse….
Cost of living pressures are acute for some, but in different ways for different types of household. The Australian Bureau of Statistics consumer price index has climbed by 6% per year for each of the past two years. In the decade before that, it only climbed by an average of 1.8% per year. So, on…
Australia presents a mixed picture of national well-being, according to the government’s Measuring What Matters report released by Treasurer Jim Chalmers. On the positive side, over the past two decades, life expectancy has increased, income and job opportunities have improved, and we are better at accepting diversity. But Australians now have more chronic health conditions,…
The Australia of the 2060s will be very different from the one we know today. It will be older, with slower economic growth, a big “care” economy, and an export sector that is radically transformed due to the imperatives of climate change. The Intergenerational Report, released by Treasurer Jim Chalmers, says five main forces will…
The Australian government has just released the latest iteration of its Intergenerational Report, the sixth since the first was published in 2002. Each provides a snapshot of the sort of Australia in which future generations will find themselves in 40 years’ time, should current government policies continue. Previous reports have dealt mainly with the impact…
People seem to think there is a high risk of animals causing damage in rentals – a key reason landlords say ‘no’ to pets. However, the truth is, more damage is caused by a human than a pet. And, with laws changing across Australia to allow for more open and honest communication about renting with…
Australia’s care economy could increase from its present about 8% of GDP to about 15% in 40 years, according to the government’s Intergenerational Report. The projections say in four decades’ time Australians will be living longer, with more years in good health – but the larger cohort of aged people will increase the need for…
