While Australia must make some hard choices to pay for services in the future, increasing the goods and services tax is just too hard.
Articles on Australian economy
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Migrants in Australia less than five years are twice as likely to be underpaid as other employees.
The RBA’s latest forecasts assume no further rate rises will be needed. There’s nothing in the budget that should change that.
Since the pandemic Australian workers’ share of national income and purchasing power has fallen at an unprecedented rate. New policies are needed.
Reserve Bank of Australia governor Philip Lowe is unrepentant about the prospect of further interest-rate rises. In fact, he says there’s a risk the bank is not doing enough.
The Reserve Bank of Australia tips economic growth to slow, inflation to remain high, spending to stagnate, unemployment to increase and real wages to fall further.
Interest rates are almost certain to rise again in February, after the latest Consumer Price Index figures showing inflation hitting a record high of 7.8% in 2022.
The Whitlam government’s economic performance was certainly not perfect. But it deserves a better reputation than it has.
Modelling from Victoria University finds four groups of occupations most likely to have shortages of workers or an oversupply.
An uncritical obsession with productivity threatens to distract us from the deeper problems Australia must face and fix.
Even with enough supply, local gas prices have been skyrocketing. The ACCC has squibbed on possible reforms such as a windfall profits tax.
As Jim Chalmers prepares to deliver grim news on the economy, he will choose his words carefully.
Australia has its lowest unemployment rates in almost 50 years – helped along by high numbers of employees off work sick.
Compared with other OECD nations, Australians pay much less tax than some headline statistics suggest.
The Reserve Bank of Australia has delivered a ‘double-whammy’ interest rate rise, with up to five more to come in 2022.
Despite Albanese’s campaign hiccups, at the end of this penultimate week, based on the objective evidence, the election appears to be his to lose.
Australia’s GDP was up 3.4% last quarter of 2021, on the back of pent-up consumer spending. Other factors must drive future growth.
Despite limited direct economic ties, Russia’s invasion of Ukraine has important consequences for Australians too.
Increasing perceptions of corruption in Australia could be suppressing economic growth by as much as 0.6%
If we want higher wages, we must win them through deliberate wage-boosting policies.
Top contributors
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Scientia Professor of Economics, UNSW
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Professorial Fellow, University of Canberra
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Emeritus Professor of Economics (Griffith University) and Teaching Associate (University of Queensland), Griffith University
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Dean of Business School, University of Southern Queensland
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Election Analyst (Psephologist) at The Conversation; and Honorary Associate, School of Mathematics and Statistics, The University of Melbourne
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Director, Centre of Policy Studies, Victoria University
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Professiorial Fellow, The University of Melbourne
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Professor of Economics, The University of Melbourne
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Professor of Economics, Monash University
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Industry Professor and Chief Economist, University of Technology Sydney
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School of Social Sciences, Monash University
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Professorial Fellow and Co-Director, HILDA Survey, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne
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Economist and Director, Centre for Future Work, Australia Institute; Honorary Professor of Political Economy, University of Sydney
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Professor of Economics, University of Canberra
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Professor of Macroeconomics, University of Sydney