Prime Minister Anthony Albanese has flagged that a tough budget is on the 25 October. He has also said that there will be some moves to soften the impact of the rising cost of living. Exactly what these are is extremely important. All we can go by is the record to date. Continue reading Will the coming budget bring relief or more pain?
The jobs summit was going to deliver a consensus that will chart a way forward towards a fairer Australia. At least that is what we were told. Those who knew better knew that the hype was mostly spin and photo opportunities. Now that it is over, little of substance came out of it. Continue reading Jobs summit has not delivered a new direction for Australia
There are forces in Australia gearing up a campaign to keep wages down. Led by the corporate sector and backed by the Reserve Bank of Australia. There has been a modest rise in rates this year, and they are blaming this for the rise in inflation. If wages are not kept down in the next period, they warn, inflation will get worse, and the economy plunged into serious trouble. Continue reading It is not wage rises causing of inflation and harming the economy
Despite all the hype, and even a Reserve Bank forecast of a 3.5 percent rise next year, the pay packet of the average punter is not going up, and in real terms, it is going south. Even if the Reserve Banks prediction, which doubtful to start with, it will still fall behind rising inflation. This means it will cost more to maintain the same standards of living. Continue reading Real wages are falling and cannot be the cause of inflation
People have been saying that the economy is in strife for a long time, and along with the climate crisis, the rising cost of living that is making the headlines. Everyone feels it. No wonder this has shaped up at the centre of politics in Australia. Continue reading Australia’s economy faces problems rooted in its structure
Continue reading There are better ways to stop inflation than by hiking interest rates
Australia’s inflation rate is rising and set to rise further still. In the first three months of this year, it rose 5.1 percent, according to Jim Chalmers, the Treasurer of the newly elected Labor government. He has suggested that further interest rate rises are on the horizon. The Reserve Bank has not made back top back interest rises for 12 years. The last time was soon after the Global Financial Crisis. Something is in the air. Continue reading Australia’s inflation rate is rising and why this is happening?
A few days into the election campaign and two big issues are already being ignored, the falling share of wages and the even worse opposition faced by those trying to live on social security payments. If campaigning had been about people, surely, what determines the standard of living of every adult and child in Australia would rate far greater importance? Continue reading Wages and social security justice should be at centre stage of election campaign
Hours before Treasurer Josh Frydenberg delivers this year’s budget, the big issue is the rising cost of living beginning to push down the standard of living for millions of Australians. Instead of addressing this, the Morrison government is set on a $26 billion pork barrelling spree to shore up its fracturing political base in marginal seats. Continue reading The budget should solve rising cost of living and not pork barrel for votes
This year’s federal budget is coming up, and this time the details are being kept hidden from the public. In a budget just before an election there are usually sound bites promising a few handouts. Not up to now. Continue reading Signals that the coming budget will be a con are now out
