The Australia Institute is one of the country’s most influential public policy think tanks. It conducts original research that contributes to a more just, sustainable and peaceful society.
Based in Canberra, it conducts research on a broad range of economic, social, transparency and environmental issues in order to inform public debate and bring greater accountability to the democratic process.
Authorised by Ebony Bennett, The Australia Institute, Canberra 2603.
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Even if inflation does go down, im guessing all my bills will continue to rise. Food prices won't reduce that much. Once prices go up its rare that they go down significantly
One as small as this one, very little. I Know wewere all angry at Morrison, but clearly voting labor in was a case of throwing out the baby with the bath water.
The Government's surplus, in my eyes, is exactly the same as the supermarkets profits, the banks profits, the insurance companies profits, the mining profits, etc. The Government is just another large corporation that is price gouging, sweet talking, green-washing, gaslighting the poor majority to benefit itself. To sell us out.
It’s bull ShXt, we’re going to be paying more!
If they don't freeze your digital currency
keep wages low!
What surplus. Misinformation. WE ARE A NATION IN DEBT. THERE CANNOT BE A SURPLUS IF YOU ARE IN DEBT.
We have a surplus from the budget this year. A surplus.
@@ML6103 So the country is in debt, but we have a surplus. 2+2=5 then? Anybody thinking that they have a surplus when they owe billions are fooling themself.
The Government should NOT have a surplus. Having a surplus means that the Government is not using its Tax Revenue responsibly. Taxes are supposed to be an instrument for levelling the financing of the services that benefit the whole population. The National finances are NOT dependent on Tax Revenue. The Country's budget is not like your household budget. If you run out of money (cash, credit, friend) you are broke. If a Federal Government, being a sovereign body, looks like it's running out of money, it simply prints more. A Sovereign Country can not go broke!
AUS IS BROKE ALL MOST 1$trillion
@@vernonwhite4660 you can't be broke if you issue your own currency. So Australia is far from broke. As a matter of fact, if we paid off all our 'debt' our financial system would collapse.
some of the best creatives lived in the gutter
I’m favored financially with Bitcoin ETFs approval, Thank you buddy. $12,000 monthly profit regardless of how bad it gets on the economy.
Same here, I believe the Bitcoin ETFs approval will be life changing opportunity for us, with my current portfolio made from my investments with my personal financial advisor <Audrey Lauren > 1 totally agree with you
YES!!! That’s exactly her name (Audrey Lauren ) so many people have recommended highly about her from Brisbane Australia…🇦🇺
I’m a long term investor, I withdrew my profits of over $61,000 during the COVID 19 pandemic ….
She is my family’ personal Broker and also a personal Broker to many families in the United States, she is a licensed broker and a FINRA AGENT in the United States…
A lot of people still make massive profit from the crypto market, all you really need is a relevant information and some < professional advice. ‹ it's totally inappropriate for investors to hang on while suffering from dip during significant <market falls.
Can start paying fisherman for the of millions in quota cuts seismic blasting kills recruitment up to 1’2kms from blast that goes off every 10 seconds 24 hours a day for months on end it had a big impact on the rock lobster industry in the early 2000s 🦞🐙🦀🐳🦑🐬🐢🐠
Good work Richard, well done
The Inflation I’ve seen over the last 12 months equates to 12%, this does not take into consideration the 25% cost increase in electricity introduced 1 July 2023. The model they use for modelling is not a reliable reflection of the true inflation rate, it exists to give the sitting government something less embarrassing
Government spending including deficits are not inflationary if they utilize available resources and capacity in the economy - as the guy says. Government surpluses are usually a bad idea as they correspond to deficits in the non-government sectors, lead to lower savings and investment and reduce the money circulating in the economy. This leads to recessions. Again, as the guy says, increasing government spending to improve incomes for the poor, reduce healthcare costs etc, but also on green infrastructure is the way to go. Running a surplus is unnecessarily causing people to struggle!
Stoneybroke University. You could not make it up!
Queensland is spending $30 billion on 2 batteries to back up renewables that will last just 24 hours. That's just one state. The feds just gave a billion to someone to make solar panels here despite a world glut and the fact we will never be competitive. The energy consumers of the nation and the taxpayer are subsidizing wind and solar by staggering amounts that make $14b look like spare change. I don't think we should subsidize either, but put it in perspective. The transition has been rolled out so poorly we may actually be paying the coal and gas miners and power stations to stay open long enough so the lights stay on. $14 b will look like a bargain.
if bro spoke any straighter he'd turn into a ruler
Labor who I voted for need to listi to this and back track immediately ! Bloody disgusting!
Richard was more than ready for every question.. big telepathic high five coming your way mate.. brace yourself.. its an arm breaker lol
So many in Australia are paid what I like to call SLAVERY RATES. In other words the pay these people receive permits them to work..but not to advance.
It’s easy collect record taxes, highest in the western countries, and he thinks he’s done a good job 🤬
Think about this, if 4k extra was given in unemployment benefits, those living on the payment would still be under the poverty line, but it would be close to it. What an accolade to bring so many Aussie out of poverty, surely that would be enough for Labor to hang their hats on, so how bad then is the compulsion to do the seemingly opposite and where would such a compulsion come from?
Why don't you wait for the budget to be released to find out. Instead of surmising your own opinion of what the budget says. The comments here are as if the budget was already announced. We elect a govt: to govern so let them get on with the job, with out interference from mouth pieces that are installed to disrupt.
'nobody talk or make speculation or I will chuck a tanty'. Yeah nice mate
Australia is F%$KED!
Yes Im sure this government is fully transparent and has 100 percent credibility in regards to reporting on the financial status of the country.... The radio reports power bill relief and cost of living relief again but we do not see it . Sounds like a version of stimulus payment you know the pat on your back while they fish around in your pockets for loose change type deal..
I'm sure albo said cheaper electrwicity
from my ignoramus perspective, i think the artificially increased cost of housing and goods is more of a problem than 'low wages'.
It means Australia won't be able to pay the huge interest on the amount of debt the communists have racked up giving away billions for Palestinians terrorists endless billions for every illegals walking in but Australians well were the wallet
What about these institutions and businesses who believe they are entitled to annual price rises "in line with inflation"? Such price rises are what causes inflation.
Juice Media is gonna have a field day
Absolutely nothing to normal hard working Australians
Maybe you should stop working hard, do what prime minister does, get into politics, rip tax payer off, buy investment 6 properties in Sydney inner west and charge ridiculous rent :)
Yes but nearly 300 million for government workers
Well spoken and articulated.
How much can we pensioners expect.
$0 above CPI. Albos cutting taxes, money for housing, DV payments for women and housing for women
I'm surprised they didn't raise the pension age to 70
@@Jack-gn4glother countries are already raising it to 71. We are moving to 70.
So printing money must be good for inflation,or have we stopped doing that?
What they print was given to Ukraine Tuvalu Palastine Cambodia Papua New Guinea & a few other Pacific nations.😊
@@vernonwhite4660 couldn't we just send them their own printing machine with ink and paper? Save them having to change Aussie dollars into their own currency
If you're talking about issuing more currency into circulation, they're still doing that.
Looks like a cloned librarian on Valium.. Polly want a crack up.
Just get a government job because they are the only people that have had a pay rise under labour. I’m throwing in my trade license and going to get a easy government job with all the perks
sorry only family and friends can apply
Where are these cushy government jobs? I can promise you that working short staffed nursing shifts in hospitals isn't easy. And what wage rise?
I thought a trade licence was was THE licence to print money
Any citation on that claim?
Great to see the Australia Institute getting some exposure on commercial television. Its a pity Richard didn't mention the need to build public housing now, not later. (He's very good though) Inflation has hit contruction costs much harder then other sectors.
You're lying and you know it. The diesel tax rebate in not a subsidy. It is a rebate for the diesel used off road, the monies used to build roads... well, what it is supposed to be for. Farmers, train operators, small & big business and yes, even the renewable companies get this rebate. The renewable companies use diesel machinery when they're building their projects and rightfully claim it.
you're a liar. there is no tax specifically for building roads.
Austerity? What about quantitative easing? 🤠
Is quantitative easing used to reduce inflation and then to reduce interest rates? So if the price gouging from the supermarkets, fuel importers etc will not be addressed as an inflationary pressure maybe they will gouge further?
OH.... lets give everyone handouts..... Governments...
Yeah man fuck those poor people
I agree! Let's take the handouts off the rich, the fossil fuel industry, private schools, foreign corporations & multiple homeowners and target them to the people who need them & have been ignored for decades!!! That is what you meant, right?
yep why the fuck are we subsiding mining and gas and then charged more for the shit, big business is having a farkin laugh
@@zoddsonofthor5576 Exactly what mining subsidy are you talking about?
@@petert3355 probably the 57 billion to the fossil fuel industry in 2023
I guess many people are working harder than ever, for less than they've ever been able to purchase, with those 'wages'. Is it any wonder the greatest wealth transfer in history has happened, and billionaire wealth has increased by truly remarkable levels, over the last 4 years.
It saddens me that the media and politicians have successfully convinced people that there is a lack of houses rather than millions of investment properties .
Well we know that Labor doesn't give two shakes about anybody on government benefits... they're the hidden, the ones who can't fight back, the governmental abused.... from a prime minster who grew up in government housing.
See these people know the games. I said they're playing CHESS GAMES WITH YOU.
Every year in Norway, the government collects 65% of all the money made from selling its oil and gas resources, and they pay every citizen from the proceeds. In Australia, the government subsidises the corporations, paying them billions of dollars to extract and export to other countries. They pay nothing in taxes. We are the dumbest human beings on earth. The cost of living in Australia is enslavement, and the corruption is unbelievable.
Increasing wages to keep up with inflation, fuels and perpetuates that inflation. The government is not in a position to push up wages. It has always been unfair to the people on low incomes. That is why they pay much less (or sometimes zero) tax.
That's not how that works. Subsidising big corps and giving them tax breaks and not stopping them price gouging is what's driving inflation. The rich are making the poor poorer, that's what needs to be fixed.
completely false! this inflation is caused exclusively by the increase in gas caused by the war in Ukraine and the gas industry choosing to send the gas overseas for the highest price. Wages have been stagnant for a decade. Your theory then would mean we don't have inflation.
@@Terry-xx2xm prove it. Also, wrong.
@@thekaxmax why? What evidence did you supply? Just some neo liberal talking points. Do you really follow this channel?
@@Terry-xx2xm 1: I'm as anti-neoliberal as you can get. 2: you made the claim that I'm disputing, you present your data and backing documentation first. That's how this works.
Low wages is a control system. It's how Narcissists and Psychopaths maintain their social dominance. It's behavioural modification, not intelligent economics.
If you understand how the dopamine receptor and transport genes work in CEOs and Politicians you can understand why they use economics as a form of coercive control and how we keep getting squeezed for more productivity. if they can't get it, they will take it from out wages. Think of them like the junkie who breaks into a home and rummages through your cupboards and drawers for something to sell to get their fix. Except the fix for politicians and ceos are wealth, power, and control. If they can't get it, they psychologically degrade.
The government has betrayed working Australians. Everyone earning below median wages has basically been enslaved to pay for the investments of the parasites, corporate and government that claim to rule us.
Tonight's budget will be a disappointment no doubt with the government giving 'cost of living' relief via additional allowances. They are only a band-aid solution that are handed out each year on the whim of the government and can just be stopped with the stroke of a pen.
Yess what a scam 😒 wake Australia 🇦🇺 you are getting robed of, buy international companies 😅
How do we stop this madness?
Somewhat misleading title I would say. It sounds like the $14.5B is a tax credit rather than a subsidy. How much tax does Australia collect from the fossil fuel industry? If it collects more than the tax breaks, then it is hardly a subsidy.