Opposition leader Peter Dutton has criticised the Australian Labor government’s approach to economic management, saying they are killing commercial confidence in our economy. Speaking at a press conference in Alice Springs in the Northern Territory on Oct. 17, Dutton called on the government to display more positivity, “Yes, it’s a dire situation in parts of…
Should Australia’s National Day of Mourning Have Been on the Same Day as the Queens Funeral
Commentary The billions of people who watched the funeral of Queen Elizabeth II on television on Sept. 19 would have been impressed with the ancient pomp and ceremony of this historic event. There is no doubt that the English are particularly good at organising grandiose events. The funeral cortege, featuring the state gun carriage that…
Big Migration Not Quite the Silver Bullet for Australia’s Labour Shortage: Economist
September 12, 2022
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AustraliaAustralia immigrationAustralian economyBusiness & Marketseconomic policieseconomyInternationalJohn HumphreysJudith SloanWorld
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The Australian government’s pledge to substantially up migration may not yield the economic benefits it expects, says economist Judith Sloan. Following the Jobs and Skills Summit in early September, the Labor government announced the country would receive 195,000 new migrants per year, an increase from the previous amount of 160,000. The call for more migrants…
A Soft Landing for the Australian Economy?
June 23, 2022
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AustraliaAustralian Cash rateAustralian economyAustralian inflationBusiness & Marketseconomyinflationinterest rateInternationalNet Zero by 2050OpinionViewpointsWorld
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Commentary The economic news of the last couple of weeks in Australia is bleak at best and demoralising at worst. The skyrocketing prices of energy, meat, vegetables, and petrol have led to big increases in the cost of living. Vegetables have increased by 6.1 percent, and beef and veal have increased by 8.1 percent. Petrol…
People Switching Jobs at Highest Rate in a Decade in Australia
Job mobility in Australia rose to the highest level in a decade, with almost one in ten employed people switching jobs in the 12 months to February, according to the Australian Bureau of Statistics (ABS). ABS head of labour statistics Bjorn Jarvis said job mobility had been trending downwards for decades before reaching a record…
Concerns Coalition Housing Policy Could See Prices Rise, Yet Long-Term Solutions Nowhere in Sight
May 15, 2022
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anthony albaneseAustraliaAustralian economyaustralian federal electionAustralian federal election 2022Business & Economyeconomic policiesInternationalScott MorrisonWorld
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The incumbent centre-right Coalition government’s recently announced housing policy—that will allow first home buyers to access their superannuation funds—has been criticised by the opposition, financial sector, and unions over concerns it will cause a spike in residential real estate prices. Yet in early May, one economist told The Epoch Times that the centre-left Labor Party’s…
Australians Should Vote for Freedom at the Next Election: Economist
April 7, 2022
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Asia & PacificAustraliaAustralian economyaustralian federal electionBusiness & EconomyCCP Viruseconomic policiesGigi FosterInternationalWorld
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Preserving individual freedoms should be a major consideration for Australians set to go to the polls in May at the next federal election, according to an economist. Gigi Foster, professor at the University of New South Wales (UNSW), said the four main political parties in Australia—Liberal, National, Labor, and Greens—had not acknowledged the problems of…
Australians to get Tax Cuts and Cash Handouts to Relieve Cost of Living
March 29, 2022
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AustraliaAustralian economyAustralian federal budgetBusiness & Economyeconomyfuel exciseJim Chalmersjosh frydenbergScott Morrisontax reliefWorld
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Ten million Australians will receive a one-off $420 (US$315) tax offset to assist with the ballooning cost of living, while six million welfare recipients will get a $250 cash payment in the 2022-23 federal budget. Treasurer Josh Frydenberg unveiled the details of the anticipated “temporary, targeted, and responsible” cost of living relief package on Tuesday…
Australian Treasurer Promises Targeted, Temporary, Proportionate Cost of Living Relief in Budget
Australian Treasurer Josh Frydenberg has pledged measures to ease Australia’s rising cost-of-living in Tuesday’s federal budget that don’t add unnecessary upward pressures on inflation and interest rates to be set by the Reserve Bank. Frydenberg indicated that the government’s targeted measures will be “temporary and proportionate,” as has been the government’s “fiscal stimulus” during the worst…
Demand for Australian Workers Remains Strong, but Real Wage Growth Falling: RBA Head
March 23, 2022
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AustraliaAustralian economyaustralian unemploymentBusiness & EconomyeconomyReserve Bank of AustraliaSimon Birminghamwages growthWorld
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Persistent high levels of demand for workers in Australia has put pressure on wages to rise, but Australians will still be taking a pay cut in real wages. The National Skills Commission revealed that job advertisements rose by 3.6 percent, or 9,300, in February to a total of 269,700. It was driven by New South…
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