4 December 2017
When we see excessive spikes in fuel prices, rapid annual increases in health insurance premiums, and a confusing array of electricity options to choose from, it is easy to conclude that big companies are using their market power to gouge their customers. But the latest report from the Grattan Institute finds claims about Australia being dominated by oligopolies are overblown. Only about 15% of the economy is dominated by large firms.
18 May 2017
FactCheck: do Australian banks have double the return on equity of banks in other developed economies?
In its 2017 federal budget, the Australian government included a 0.06% levy on Australia’s biggest five banks that will collectively cost the banks A$1.6 billion a year. Many commentators have suggested this cost will be passed directly onto customers. However, Scott Morrison said the banks could absorb the cost of the levy, given the size of their profits. Is that right?
27 February 2017
Eight years after the global financial crisis (GFC), economic growth remains weak in many rich nations. Australia has been an exception to the malaise, but growth has slowed as the mining boom winds down.
27 February 2017
The huge five-year fall in mining investment in Australia may be drawing to a close, but non-mining business investment remains close to 50 year-lows, as a share of GDP.
30 May 2016
Australia’s economy has come back to earth after a wild ride through the mining boom but that does not mean we are destined to join the rest of the rich world’s economic malaise.
15 February 2016
Australians woke up to dire warnings this week about their economic future. Comparisons with Greece may be a little premature, but there is certainly hard work ahead for Australia’s economic managers.
15 December 2013
Propping up the car industry has been a bad deal for taxpayers. Government can play an important role supporting manufacturing but long-term productivity growth is the key.
12 December 2013
Thirty years ago today, Australia floated the dollar. The decision paved the way for the economic reforms of the 1980s and ’90s and remains an indispensable piece of policy-making.
3 August 2013
A decade of good times in Western Australia has led to profligate government spending. It’s time to turn off the tap.
29 July 2013
As the mining boom changes shape, policy makers need to start saving more of the proceeds.