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Articles for Eslake

The Spirit of Tasmania fiasco
2 months, 1 week ago

The Spirit of Tasmania fiasco

ABC  

ELLEN COULTER, REPORTER: Plying the treacherous waters of Bass Strait for decades, ferrying trade and tourists from mainland Australia, the two Spirit of Tasmania ferries are crucial to the prosperity of the island state. ELLEN COULTER: Down the road from the East Devonport ferry terminal, John Alexiou put in a new coffee machine in anticipation of more customers in the …

Infrastructure Spirit Ships Schmidt Million Ferguson Finnish
Tasmanian treasurer Michael Ferguson announces record infrastructure spend for 2024 state budget, despite Eslake review warning
3 months, 2 weeks ago

Tasmanian treasurer Michael Ferguson announces record infrastructure spend for 2024 state budget, despite Eslake review warning

ABC  

Tasmanian Treasurer Michael Ferguson has announced a record spend on infrastructure will be in this year's budget, despite a debt warning from an independent review of the state's finances. "We need to maintain that pipeline of works — it supports jobs for men and women across civil, commercial, domestic, residential sectors right around the state," the treasurer said. "All the …

Infrastructure Services Budget Public Services Review State Public
Major parties' response to grim report on Tasmania's finances 'extremely disappointing', JLN says
4 months ago

Major parties' response to grim report on Tasmania's finances 'extremely disappointing', JLN says

ABC  

On Monday, a leading economist gave a pretty dire warning about the state of Tasmania's finances — but within hours, both major political parties had ruled out implementing its main recommendations. Report a 'timely reminder' of budget challenges Deloitte Access Economics partner Cedric Hodges said Mr Eslake's report was a "timely reminder of Tasmania's fiscal position and where we could …

Taxes Budget Spending State Report Stamp Duty Tasmania
Tasmania's financial position on track to become worst in the country over next three years, Saul Eslake's independent review finds
4 months ago

Tasmania's financial position on track to become worst in the country over next three years, Saul Eslake's independent review finds

ABC  

Tasmania's financial position is on track to "become worse than that of any other state or territory over the next three years", and the deterioration is "entirely attributable" to state government policy, an independent review of the state's finances has found. Economist Saul Eslake's review has warned against slashing the budget — instead calling for higher taxes — but admits …

Financial Revenue Review State Report Ferguson Tasmanian
What are the alternatives to using interest rates to tackle inflation? We put your questions to economist Saul Eslake
10 months, 3 weeks ago

What are the alternatives to using interest rates to tackle inflation? We put your questions to economist Saul Eslake

ABC  

Daniel Wigg doesn't drink alcohol anymore. "Although, like interest rates, it would leave older people unscathed," Mr Eslake said. Saul Eslake says lifting income tax was a common way of responding to high inflation in the 1950s and 60s, but "no government would want to do that now". Mr Eslake also said interest rates were kept "too low for too …

Inflation Income Tax Interest Rates Interest Covid Cent Rates
The mining sector made more than half of Australia's corporate profits, so why do economists want to ignore it?
1 year, 8 months ago

The mining sector made more than half of Australia's corporate profits, so why do economists want to ignore it?

ABC  

The claims by business leaders that record-high profits have not contributed to recent inflation are wrong, according to a new paper from the Australia Institute. Key points: Dr Jim Stanford says analyses of Australia's economy cannot exclude the resources sector Australia Institute analysis shows the mining sector's windfall profits over the past two years have been linked to surging inflation …

Europe Australia Corporate Inflation Monetary Policy Bank Mining
Sally McManus says labour's share of GDP is the lowest it's been since 1960. Is that correct?
2 years, 4 months ago

Sally McManus says labour's share of GDP is the lowest it's been since 1960. Is that correct?

ABC  

The claim The Albanese government has announced it will host a jobs and skills summit in Canberra next month, with the two-day talkfest expected to inform an employment white paper, which it claims will "help shape the future of Australia's labour market". Ms McManus's claim that labour's share of GDP is at its lowest level since then appears to be …

Fact Check Wealth Labour National Workers Income Share
Why Labor's doom and gloom about surging inflation could weaken the economy
2 years, 6 months ago

Why Labor's doom and gloom about surging inflation could weaken the economy

Daily Mail  

Labor's pessimistic tone about 'skyrocketing' inflation could potentially weaken the economy if it made worried consumers spend less. A 5.1 per cent headline inflation surge in the year to March was the worst since 2001 and at a level well above the RBA's 2 to 3 per cent target, as a result of global supply chain pressures and $2 a …

Economy Labor Inflation Prices Interest Rates Interest Cent
What is stagflation and will it hit Australia's economy again?
3 years, 1 month ago

What is stagflation and will it hit Australia's economy again?

ABC  

Australians are concerned about inflation. "I think policymakers struggled to understand stagflation partly because, at the time, economic theory and conventional wisdom didn't comprehend that you could have the two together," he told the ABC. "So they thought economies had spare capacity and room to grow further, which meant that they pursued stimulatory monetary and fiscal policies, and the result …

Global Inflation Supply Unemployment Prices High Mr Eslake
COVID provided a real-life experiment on house price theory and what makes owning a home unaffordable
3 years, 2 months ago

COVID provided a real-life experiment on house price theory and what makes owning a home unaffordable

ABC  

In March last year, Australia's international border was slammed shut. "I said at the start of COVID, we're about to find out what matters more for house prices: interest rates, or underlying demand or supply," he said. "The Reserve Bank's been very clear, it's not going to raise interest rates to reduce house prices," he said. "The issue is not …

Housing Australia Supply Property New Zealand Prices Interest Rates
David Walsh's MONA celebrates a decade of turning art on its head and tourism around
3 years, 11 months ago

David Walsh's MONA celebrates a decade of turning art on its head and tourism around

ABC  

Alice Chugg has been working in hospitality in Hobart for 15 years. Key points: MONA and its festival events are credited with reframing Tasmania as an artistic and cultural destination The gallery was established in 2011 by art collector and professional gambler David Walsh A 2018 report found MONA contributed $134.5m to the Tasmanian economy that year "For the five …

Festival Art Dark Museum Museums David Visitors
Tasmanian construction projects worth $1b delayed or ditched because of coronavirus
4 years, 3 months ago

Tasmanian construction projects worth $1b delayed or ditched because of coronavirus

ABC  

For construction in Tasmania, the past few years have been golden. Key points: The major projects pipeline in Tasmania is drying up, with COVID uncertainty and restrictions being blamed The major projects pipeline in Tasmania is drying up, with COVID uncertainty and restrictions being blamed There are concerns more of the construction workforce will join the unemployment line, or leave …

Construction Work Commercial Projects State Hotel Tasmania
Why company profits have jumped in Australia during COVID-19 while workers are taking home less
4 years, 3 months ago

Why company profits have jumped in Australia during COVID-19 while workers are taking home less

ABC  

The share of national income going to Australia's workers has been steadily declining since the 1970s, with the profit share increasing. It said company profits jumped by a massive 14.9 per cent in the quarter, while the total wages-and-salaries bill for workers fell by a record 2.5 per cent. He said data shows so-called "average non-farm compensation per employee" actually …

Australia Labour Workers Income Profit Share Covid
Business pushing hard to open state borders during coronavirus, but leading economists urge caution
4 years, 3 months ago

Business pushing hard to open state borders during coronavirus, but leading economists urge caution

ABC  

Business groups pressuring politicians to reopen state borders quickly should not ignore the health and economic benefits of the coronavirus lockdowns, two leading economists say. Key points: Tourism executives sign open letter calling on state leaders to reopen borders quickly They claim the latest border closures have permanently damaged the domestic tourism industry Economists say calls for state borders to …

Travel Tourism Border Economic Domestic Borders State
Record deflation in consumer prices driven by free childcare, while lockdown essentials jump
4 years, 4 months ago

Record deflation in consumer prices driven by free childcare, while lockdown essentials jump

ABC  

Australia has recorded its biggest-ever quarterly fall in consumer prices, which dropped 1.9 per cent in the June quarter amid the coronavirus pandemic. Key points: Consumer prices fell 1.9 per cent in the June quarter, the biggest drop on records going back to 1948 Free childcare led the price decline, along with free preschool in some states and much cheaper …

Record Consumer Inflation Demand Quarter Free Free Childcare