Economy
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MICHAEL WEST. Gas crisis? Or glut? Why Japan pays less for Australian LNG than Australians do.
It is bizarre that gas customers in Japan buy Australian gas more cheaply than Australians. Some of this gas is drilled in the Bass Strait, piped to Queensland, turned into liquid and shipped 6,700 kilometres to Japan … but the Japanese still pay less than Victorians. Continue reading »
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JOHN MENADUE. Making miners pay their fair share.
The victorious Labor Party in Western Australia has got off on the wrong foot in its timidity towards the mining sector. Its leader, Mark McGowan, has said that a Labor Government will not support a mining royalty proposed by the WA Nationals because it would drive investment away from WA. This is a very hackneyed Continue reading »
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IAN MCAULEY. Warning from Colin Barnett: Privatisation is on the nose
The WA Government’s proposal to privatise Western Power – the government-owned electricity utility – was one of the factors contributing to the extraordinary anti-Liberal swing in Saturday’s Western Australia election. Privatisation of electricity has also been an issue in the eastern states. While the coal lobby and climate change deniers have blamed South Australia’s blackouts Continue reading »
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LUKE FRASER. The ‘Big Picture’ in infrastructure: even more depressing than the little picture?
As news broke recently that the Sydney Metro project would necessitate the closure of Sydney’s Bankstown rail line for a few months each year until well into next decade, the latest State Transport minister urged everyone to ‘look at the bigger picture’. Continue reading »
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JOHN MENADUE. A little bit of honesty would go a long way in energy policy.
We really do need some honesty from the media on energy policy. The fact is that Coalition policies have failed for at least eight years and are largely responsible for our pending crisis. Media cover-ups for failed Coalition policies will not change that fact. Continue reading »
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Victoria’s recent housing affordability initiatives
Victoria’s Labor Government has made clear its determination to do something about housing affordability, recently announcing a suite of reforms – many aimed at first home buyers. The changes are for the most part designed to boost supply of homes both for purchase and rental. However, they also attempt to lower the barriers to purchase Continue reading »
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IAN McAULEY. South Australia’s Electricity Problems: Jay Weatherill Should Follow The Coalition’s Example
Spare a thought for the people of South Australia. Large parts of Adelaide blacked out for up to 18 hours without notice. Trams stopped in their tracks across busy intersections. A bitter and partisan debate in state parliament about responsibility for the chaos – the electricity supplier, the federal government, other states putting their own Continue reading »
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FRANK STILWELL and CHRISTOPHER SHEIL. The IMF is showing some hypocrisy on inequality
The IMF should practice what it preaches when it comes to inequality. Continue reading »
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OLIVER FRANKEL. Making housing affordable – Drawing inspiration from India and Singapore
Not many of those following the housing affordability debate in Australia would think of looking to India and Singapore for inspiration, yet the experiences of each of these countries are inspiring in their scale and ambition (and in Singapore’s case, already proven success), and could provide useful lessons for us as we attempt to deal Continue reading »
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JOHN MENADUE. Failed Leadership in Church and State!
From my experience and observation good leadership is about creating disequilibrium and a process to galvanise the group to change. Without disequilibrium there will be no worthwhile change. Continue reading »
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JOHN QUIGGIN. The case for renationalising Australia’s electricity grid.
The public debate over the problems of electricity supply displays a curious disconnect. On the one hand, there is virtually universal agreement that the system is in crisis. After 25 years, the promised outcomes of reform – cheaper and more reliable electricity, competitive markets and rational investment decisions – are further away than ever. Continue reading »
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JOHN AUSTEN. The Sydney metro – the doubt and mess continues.
A little more real information about Sydney rail development is coming to light. It is not dispelling the doubts about metro. A decision on Badgerys Creek rail, which would have been straightforward without the metro, is now ‘years off’. The extent of metro disruption is becoming evident – spreading to even non-metro lines. Continue reading »
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ANDREW FARRAN. Some good news on trade at last.
The WTO’s long awaited multilateral Trade Facilitation Agreement has at last received the required number of ratifications and entered into force on 22nd February. It will expedite the movement and clearance of goods at the border and at airports, and significantly reduce time and costs for traders. Continue reading »
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MICHAEL WEST. Australia’s march to corporatocracy.
Confounding the familiar government narrative of reckless spending binges by Labor, the Coalition actually has the record of greater profligacy when it comes to showering billions of dollars of taxpayers’ money on external consultants. Continue reading »
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IAN VERRENDER. Malcolm Turnbull faces growing discontent from the middle, not just the fringes
Has there ever been a more demoralising time to be Prime Minister? There’s been the expected sniping from the sidelines and the continued calls for the Coalition to shore up its base and prevent leakage to parties like One Nation. Continue reading »
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PAUL CLEARY. How Australia wasted the mining boom.
The countries that have mastered the development of their resources, most notably Norway, worked out long ago that to truly prosper in the long run, the citizens who own these assets are entitled to share in the super profits derived from extracting their finite resource wealth. Continue reading »
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How we can do better on education. (Jean Blackburn Oration)
When you do so little to require the winners from economic change to compensate the losers, and then, whether by accident or design, you have an influx of immigrants, you end up with Trump, Brexit and the resurrection of One Nation. Continue reading »
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NICOLE GURRAN and PETER PHIBBS. Housing policy is captive to property politics, so don’t expect politicians to tackle affordability.
Prime Minister Malcolm Turnbull’s recent warnings that house prices would fall steeply under a Labor government confirm the underlying politics of housing policy in Australia. The default position for politicians is to sound concerned about housing affordability, but do nothing. Continue reading »
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NICOLE GURRAN & PETER PHIBBS. How the Property Council is shaping the debate around negative gearing, taxes.
We see their spokespeople quoted in the papers and their ads on TV, but beyond that we know very little about how Australia’s lobby groups get what they want. Continue reading »
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DOUG CAMERON. Commonwealth can, and must, do more on housing and homelessness
The failure of the market to provide housing for all who need it is compounded by several political failures. Continue reading »
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DAVID JAMES. Trump’s pro-globalisation critics miss the key questions
The most pressing question: Is the global system there to serve people, or are people there to serve the global system? They also never address a central contradiction of globalisation: that capital is free to move, but for the most part people are not, unless they belong to the elite ranks. The inevitable backlash has begun. Continue reading »
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HAROLD LEVIEN. Solving our Housing Problem.
Housing investors have largely crowded out first-home-buyers from the Sydney and Melbourne housing markets. The Coalition Government has not simply failed to address this problem; its policies have been the principal cause. Continue reading »
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CHARLES LIVINGSTONE. South Australia’s gambling tax highlights the regulatory mess of online betting.
The South Australian government will introduce from July a “point-of-consumption tax” to claw back some of the gambling tax revenue it is seeing disappear over the border. The new tax is a reasonable response to a growing problem, and probably won’t send bookmakers to the wall. But it does highlight the current regulatory mess surrounding how Continue reading »
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JIM COOMBS. Do We choose reason and proportion or “Economic Reform” ?
So long as government vacates the field, the balance between rich and poor lurches further towards the rich. 8 individuals control half of the world’s wealth. Is that Balance or proportionate ? Continue reading »
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PAUL BUDDE. Australia needs a proper NBN.
Regrettably it appears that on both counts – proper infrastructure plans and the need for affordable services – the government and the nbn company, despite spending something like $50 billion, have failed to come up with the right solution for Australia. Continue reading »
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WAYNE SWAN. Coalition energy policy.
It’s a lost decade we couldn’t afford on climate change and energy policy – but when the consequences are felt in years and decades to come, it’s incumbent upon us all not to forget the political opportunists and charlatans who led us down this path. Continue reading »
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MICHAEL SAINSBURY. A shonky affair.
Here lies the exquisite dilemma for the Packer lobbyists: help push the Chinese side to get a better deal, perhaps an exchange program for their incarcerated staff, or strike another deal, leaving all those ill-gotten gains sloshing around Sydney and Melbourne and finding their way to the Packer gaming tables. Continue reading »
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SUSAN RYAN, OLIVER FRANKEL, JOHN MENADUE. Upcoming series on Making Housing Affordable.
After Easter, Pearls and Irritations plans to publish a series ‘Making Housing Affordable‘ addressing key aspects of the housing crisis and recommending solutions, with contributions from a range of experts and other key stakeholders, including economists, planners, demographers, housing providers and policy makers. Continue reading »
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OLIVER FRANKEL. Making housing affordable. Vancouver’s new “Empty Homes Tax”
Vancouver’s response to the housing affordability crisis, now includes a new Empty Homes Tax at 1% per annum of the value of each empty home covered. Australian reports suggest that there may be 90,000 empty dwellings in Sydney and 83,000 in Melbourne. Continue reading »
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CAROLYN WHITZMAN. States drag feet on affordable housing, with Victoria the worst.
Moral panic over recent increases in visibly homeless people in central Melbourne has brought to the fore the critical shortage of affordable housing across the metropolitan areas of Australia’s wealthiest cities. But living on the street is only the tip of the iceberg. Many more households are living in insecure and/or overpriced accommodation. Their plight Continue reading »