Australian Economy

By Leith van Onselen The ABS has released its Australian Demographic Statistics for the March quarter of 2018, which revealed that Australia’s population continues to grow rapidly led by turbo charged net overseas migration (NOM), mostly into Sydney and Melbourne.

By Leith van Onselen The chair of a parliamentary inquiry into the development of Australia’s cities, Liberal MP John Alexander, has called for immigration to be slowed until infrastructure has caught up: …He said benchmarking immigration against infrastructure planning and progress was key to ensuring population growth was underpinned by the necessary infrastructure.

The AFR wakes up the sleeping monster of Australian economic destruction today: Stronger oil prices and the softer Australian dollar have combined to propel theoretical returns from Queensland LNG exports to record levels, with commodity prices in local currency now above the average when the projects were given the go-ahead for construction.

By Leith van Onselen Back in July, outgoing Infrastructure Australia (IA) CEO, Philip Davies, warn that Australia’s infrastructure provision is failing badly in the face of strong immigration-fuelled population growth: Mr ­Davies said if planning for major projects did not change at all levels of government, the major capitals would not cope with the population growth.

Via Westpac: •The six month annualised growth rate in the Westpac–Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, fell from 0.5% in July to -0.02% in August.

By Leith van Onselen Already under fire from the union movement for passing the Trans-Pacific Partnership (TPP) trade agreement because of its deleterious impact on Australian workers, some Labor MP are also in open revolt.

You tell me, via Domainfax: Capital Economics chief economist Paul Dales explains, the savings rate tends to be affected by movements in household wealth.

By Leith van Onselen The arrogance of our political elites never ceases to amaze.

Just sayin’, via the ABC: Launceston retailers are working out ways to bring more people into the city, after some stores experienced their worst trading month in years.

Yes, it’s border security Coalition style, via The Australian: Liberal Party heavyweight Scott Briggs — a close friend and ­political ally of Scott Morrison and a former professional colleague of new Immigration Minister David Coleman — is driving a bid to win a visa-­processing contract understood to be valued at up to $1 billion.

By Leith van Onselen According to Melbourne Institute professor Mark Wooden, workers have little to complain about: Wages have far outstripped increased living costs over the past decade, rising 31 per cent against a 22 per cent lift in inflation, delivering real gains in living standards.

By Leith van Onselen The Trans-Pacific Partnership (TPP) passed the House of Representatives last night, thanks to Labor’s treacherous support.

By Leith van Onselen The Australian Bureau of Statistics yesterday released its overseas short-term arrivals and departures figures for July, which continued to show a trend rise in the number of inbound visitors, with both Chinese arrivals and student arrivals hitting an all-time high.

By Leith van Onselen The Australian Bureau of Statistics (ABS) has released visitor arrivals and departures data for the month of July, which again posted turbo-charged net annual permanent and long-term migration.

Via Domainfax comes your new Treasurer: Treasurer Josh Frydenberg has dismissed claims of rising inequality and urged voters to back the government agenda for economic growth, while naming housing affordability and youth unemployment as two priorities in his new job.

By Leith van Onselen Throughout the immigration debate, MB has consistently argued that mass immigration is helping to hold down wages.