Australian Economy

Via Domain: The Morrison government must select 10 regional towns to power the economy outside of Sydney and Melbourne, Australia’s top business lobby has warned, calling for a list of cities with airports, universities and industry to be given special status to stimulate economic growth.

From the Lunatic RBA: Employment and Wages Guy Debelle Over much of the past three years, employment has grown at a healthy annual pace of 2½ per cent.

It appears the Scummo/Recessionberg team is worse than the disastrous 2014 Abbott/Hockey Budget nightmare.

A group of economists claim Sydney’s water is priced way too cheap and want big users to pay more: “Water in NSW isn’t dirt cheap.

Tomorrow, I will be flying up to Sydney to launch a new research paper, entitled Population growth and infrastructure in Australia: the catch-up illusion, commissioned by Sustainable Population Australia (SPA): Former NSW Premier and SPA Patron, Bob Carr, will also be presenting at the conference.

Via the Herald Sun: A new sports stadium, a second home for the National Gallery of Victoria and extra tram lines are part of former premier Steve Bracks’ vision to transform Melbourne’s inner west.

Allen Hicks, the Electrical Trades Union’s (ETU) national secretary, claims Labor has “completely sold out” working people and betrayed its own policy platforms by backing free trade agreements (FTAs) with Indonesia, Hong Kong and Peru.

Pretending to care is the bete noir of modern politics.

We’re still waiting for Tim Toohey’s last boom which was going to skyrocket interest rates in 2017.

You have got to love the Migration Institute of Australia (MIA) – the lobby group for Australia’s migration agents.

When pictures are worth a thousand words.

Last Friday, the ABS released its annual State Accounts, which prompted the below boast from Victorian Treasurer Tim Pallas: Victoria has recorded its fourth consecutive year of above-trend economic growth in 2018-19, with results well above the national average and the highest of the mainland states.

Via the OECD today: Trade conflict, weak business investment and persistent political uncertainty are weighing on the world economy and raising the risk of long-term stagnation, according to the OECD’s latest Economic Outlook.

It’s all so very predictable: The latest Commonwealth Bank Flash Composite PMI® signalled a renewed fall in private sector output in Australia during November, following no change in October.

Amusing stuff here as Mark Latham urinates over the NSW economic blueprint: Not literally but giving the hapless thing what it deserves.

The Grattan Institute has released analysis on which groups hold the most influence over Australian policy making.

Via Domain: Attorney-General Christian Porter appears close to winning crossbench support for the government’s industrial relations bill and determined to secure its passage when Parliament resumes next week.

Via COMSEC:  There were 5.42 million passengers carried on Australian domestic commercial aviation (including charter operations) in September 2019, an increase of 2.7 per cent on September 2018.  There were 5.19 million passengers carried on regular passenger transport (RPT) flights in September 2019, an increase of 2.1 per cent on September 2018.