An examination of 80,000 enterprise bargaining agreements finds that on average 80% of each increase in compulsory super has been at the expense of wages.
Peter Martin, Crawford School of Public Policy, Australian National University
The Conversation’s 2020 economic survey points to a dismal year, with no progress on many of the key measures that matter for Australians and an increase in the unemployment rate.
Politics with Michelle Grattan: Mathias Cormann and Jim Chalmers on the mid-year budget update
The Conversation, CC BY29.7 MB(download)
The figures indicate a worsening economy, but the government has sought to put a positive spin on the situation, saying the Australian economy is showing resilience.
In his second “vision statement” Albanese says he wants to pursue his “productivity project”, and paints himself as a fiscal conservative well removed from Bill Shorten’s tax and spend approach.
Liberal senator Andrew Bragg is one of the Coalition backbenchers who oppose the scheduled superannuation guarantee rise to 12%. They are looking to the retirement incomes inquiry to leverage change.
Peter Martin, Crawford School of Public Policy, Australian National University
The Conversation’s distinguished panel predicts unusually weak growth, dismal spending, no improvement in either unemployment or wage growth, and an increased chance of recession.
Peter Martin, Crawford School of Public Policy, Australian National University
The Conversation has assembled a forecasting team of 19 academic economists from 12 universities across six states. Together, they assign a 25% probability to a recession within two years.
Governments can’t undo the technological changes behind frozen wages and rising inequality. The best policy is to invest in education and training to give workers skills of value in the new economy.
News that Australian CEO pay has soared to a 17-year high at a time when ordinary workers’ wages are flatlining is ultimately bad news for economic growth and prosperity.