Australian Economy

Because he is lying to himself in a speech today.

From Abul Rizvi, former Deputy Secretary in the Department of Immigration, at Inside Story: Morrison government’s $158 billion tax cuts.

Via the excellent Damien Boey at Credit Suisse: From the ABS’ engineering construction release, we learn that public work done fell by roughly 13% in the year-to-1Q.

The Australian Bureau of Statistics (ABS) has released its Finance & Wealth data for the March quarter, which reported further falls in household wealth: Chief Economist for the ABS, Bruce Hockman, said: “Residential real estate experienced its fifth consecutive quarter of real holding losses.

Via Domain: Trade representatives from more than a dozen countries have flown into Australia to conduct highly secretive negotiations on a mega deal that will sideline the United States amid the ongoing economic fall-out from the US-China trade war.

In 2017, the Fair Work Ombudsman (FWO) revealed that migrant workers were involved in more than 75% of legal actions launched against unscrupulous employers.

Above is an incredibly good interview between Sustainable Australia adviser, Kelvin Thomson, and 2GBs Michael McLaren, on the myriad of problems caused by the mass immigration ‘Big Australia’ policy.

Via Reuters: Australia’s share in India’s coking coal market fell to 71 per cent, or 36.91 million tonnes, during the year ended March 2019 from about 88 per cent three years ago, India coal ministry data reviewed by Reuters showed.

From Richard Denniss at the AFR: Imagine if the Reserve Bank of Australia (RBA) conducted monetary policy the way the Morrison government conducted fiscal policy.

Back into the oven for the pizza giant, via the Herald Sun: Pizza giant Domino’s will on Tuesday be hit with a class action by workers who claim to have been underpaid for almost five years.

Not this Houses and Holes, who is flourishing.

Andrew Charlton from AlphaBeta has released a new report examining the cost of late payments to Australian businesses and the wider economy.

The Australian’s Judith Sloan has penned an article today attacking claims of “generational injustice”: Intergenerational injustice is a myth… what do we mean by intergenerational injustice?

Via Gareth Aird of CBA comes a note to shake the towers of the great: Overview Economic growth has slowed in Australia. But looking at the economy from a public/private sector perspective shows a marked difference in what has been occurring. Government demand has been strong while private demand has been weak (chart 1).

Federal Treasury conducted a business liaison program in February and March, the findings of which were used to inform the Budget.

While residents of Sydney and Melbourne are suffering from crush-loaded roads, trains, schools, and hospitals, as well as smaller and more expensive housing, toll road company Transurban is making out like a bandit.

By Leith van Onselen The federal Treasury’s deputy secretary Meghan Quinn says Australian resources companies have been more effective in the use of new technologies to boost labour productivity than other sectors of the economy.

Via CBA: Flash PMI data for June signalled a further pick up in growth momentum across the Australian private sector.