The huge increase in dwelling prices was made possible by ultra-low interest rates. Now the prospective rise in interest rates is likely to have a much bigger impact on many borrowers future living standards than previously experienced, and the demand for rental accommodation is also likely to increase faster than in the past. (more…)
Michael Keating
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Stagnating living standards under Morrison
Living standards have stagnated since the Coalition was elected to government, but in the Budget it is now forecasting an improved performance. How likely is this? (more…)
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Whither the Australian federation
In the absence of Commonwealth leadership, our federation is not working well. That comes at a cost to good government, and is impeding service delivery and any future reform agenda. (more…)
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The Grattan Institute’s policy priorities – what do they cost?
The Grattan Institute’s proposed policy priorities deserve wide support. However, how to pay for them is not adequately addressed, and their implementation would require the incoming government to raise additional revenue. (more…)
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What we can expect from the coming Budget
It is to be feared that the forthcoming budget will be a mixture of spending bribes and unsustainable tax cuts. This is not what is needed to restore economic stability and the provision of essential government services. (more…)
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This election needs policies that address cost of living, not just unemployment
Scott Morrison wants us to believe that low unemployment means the economy is fine, but there are other structural economic issues at play too. (more…)
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With a tricky Budget challenge coming up, winning an election may be easy part
Whether it likes it or not, the party that wins the election will most likely be forced to raise additional taxation revenue not long afterwards.
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How modern technology could bring democracy to a crossroads
Advances in technology have resulted in employment and wage dislocations that are polarising society and undermining trust in political institutions. (more…)
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Morrison government fiddles as the economy stagnates
The government’s economic forecasts are highly questionable and the uncertain budget outlook raises doubts about the future funding of essential services. (more…)
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Obsession with secrecy pervades the Morrison government
The Prime Minister and his department’s evasion of Freedom of Information regarding the minutes of the national cabinet should disturb all Australians. (more…)
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Increasing wealth inequality: how should the government respond?
Even if flaws in the retirement support system are addressed, there would still be a good case for an inheritance tax on the largest transfers.
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It’s about opportunity: a lesson on capitalism for the party of capitalism
Morrison’s theme that can-do capitalism beats don’t-do government is nonsense. Labor can respond by exalting government’s role, writes Michael Keating.
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The unspoken lesson from the government’s climate modelling
The government’s modelling leaves some legitimate concerns unanswered, but it does suggest a more ambitious emissions reduction target for 2030 is viable.
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How Scotty from Marketing seeks to deceive about climate change
The Morrison government’s proposed response to the threat of climate change tries to reconcile different interests by deceiving them both.
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How Australia could halve carbon emissions by 2030
Australia needs to cut its emissions by 45-50 per cent by 2030. Australia can realise this near-term target and grasp the opportunities that it also presents.
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Why we should halve carbon emissions by 2030
Net zero for carbon emissions in 2050 is meaningless without an ambitious target to halve these emissions in the next decade. In a two-part article, Michael Keating sets out why we need a more dramatic target.
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Wasting away: the Coalition government’s poor management record
So much for superior economic stewardship from the Morrison team. Many services are underfunded while government mismanagement is resulting in a massive waste of money on other programs.
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In defence of Australia’s submarine decision
Swapping the expensive French conventionally powered submarines for nuclear submarines was the right decision, and it does not have to come at a cost to Australia’s independence.
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The quest for small government comes at a cost to good government
The Coalition preaches that small government is best. But the reality is that government is not actually smaller under the Coalition — and what voters really want and need is good government.
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When should the lockdown end?
Suppressing the virus will require much lower caseloads before lockdowns can lift, even if we meet vaccination targets.
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Covid-19 Infections, Vaccinations, Lockdowns, and the Economy
The Morrison Government is desperate to end lockdowns, not least because of what they see as the damage the lockdowns are doing to the economy. (more…)
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Scott Morrison is no leader
Unlike the great Prime Ministers, Scott Morrison will not be remembered for his achievements. Instead, he will be judged by his unwillingness to take responsibility and provide the necessary leadership to adequately respond to the principal challenges facing this nation.
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Why Morrison’s culture of secrecy is so damaging
As has been widely observed, Prime Minister Morrison is obsessed with secrecy. This obsession with secrecy damages both the policy capability of government and the integrity of public administration. (more…)
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What does Labor offer? Part 2
Part 1 of this article discussed the implications for equity and inequality resulting from Labor’s recanting its previous opposition to the Government’s Stage 3 income tax cuts, as well as dropping its policies to reform the taxation provisions covering capital gains and negative gearing. Part 2 discusses the other major concern; the ability of a future Labor Government to now pay for the services that we need and want. (more…)
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What does Labor offer? Part 1
Labor’s repudiation of its previous opposition to the Government’s Stage 3 income tax cuts, and its decision to drop its reforms covering the taxation of capital gains and negative gearing raises two major concerns. (more…)
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The IGR report and its failure to expose the critical policy choices
The Treasurer’s recently released Intergenerational Report has been widely criticised for its narrow modelling framework. But even within this framework, the assumptions appear to be excessively optimistic. Consequently, the Report’s conclusion that Australia’s budget is fiscally sustainable way into the future is not credible. (more…)
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Should Labor oppose the Government’s Stage 3 Income Tax Cuts?
Australia faces a choice between demands for lower taxes, and raising the revenue needed to fund essential services. This article suggests how a plan to increase taxation revenue could be presented at the next election, starting with ditching the Government’s Stage 3 income tax cuts.
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When should government debt be repaid and how?
There is no problem financing government debt. As the debt can only be repaid by running budget surpluses, debt reduction should start in mid-2023 when the Treasury is forecasting that economic recovery will be complete and there will be no spare capacity.
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How good is the 2021 Budget?
The 2021 Budget continues the Government’s good work in minimising the impact of the Covid recession and promoting economic recovery. However, the Government could still do better in setting up Australia for the future and guaranteeing essential services.
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Has the Government’s economic strategy really changed, and what can we expect in future?
The Government’s new focus on unemployment as the key target for budget policy is welcome. But it will need to spend more and therefore tax more, if Australia is to achieve its full economic potential and jobs growth. (more…)