News Muncher - category garnaut

7 months ago

Ross Garnaut says housing and tax reform are needed to improve economic prospects of young people

ABC

In short: Leading economist Ross Garnaut says broader reforms are needed to improve the economic prospects of young people and prevent generational inequality from worsening. Leading economist Ross Garnaut says broader reforms are needed to improve the economic prospects of young people and prevent generational inequality from worsening. Asked whether the housing crisis was influencing how young people approach university …

Job Housing Market Economic Interest Rates Young Young People

9 months ago

If we taxed land properly, we'd have billions of extra dollars to fund big tax cuts elsewhere. So why don't we do it?

ABC

It's a basic principle of tax design. Professor Garnaut said if you added up all of the opportunities for economic reform to reduce economic rents in Australia's economy, or to tax them efficiently and equitably, you'd have a "transformational economic reform program." To explain what they mean, they say Australia's states and territories could raise an extra $27 billion in …

Welfare Taxation Taxes Income Tax Land Economic Income

10 months, 1 week ago

Can these economists turn things around for Australia's betrayed generations?

ABC

In recent weeks, key members of Australia's last generation of true economic reformers have been speaking up with urgency about the poor state of our economy. Recovering from our 'lost decade' In their Press Club address last week, Garnaut and Sims said policymakers could help to transition Australia's economy into an advantageous low-emissions future by placing a "carbon solutions levy" …

Economy Australia Political Tax Economic Treasury Henry

1 year, 3 months ago

Australia would be raising $70 billion a year from the carbon price if it wasn't dismantled, Ross Garnaut says

ABC

Australia's government would be collecting $70 billion a year in revenue if the emissions trading scheme was still in place, economist Ross Garnaut says. He said Australia was increasingly dominated by powerful firms that were extracting "economic rents" from our economy and society. He said there had been an unprecedented increase in the share of national income going to profits …

High Court Australia Tax Reform Economic Price Qantas

1 year, 5 months ago

Are we all paying the price for 'superstar' firms? How a lack of competition may be strangling the economy

ABC

Economic growth is threatening to stagnate after a brief, stimulus-induced pandemic bounce, the wages share of the economy remains near record lows and productivity growth is weak across much of the developed world. Key points: Mark-ups have more than doubled and profits almost quadrupled since the early 1980s in the US Economists say a lack of competition and the market …

Business Market Australia Tax Competition Power Going

1 year, 7 months ago

RBA's rate hikes creating inflation, Ross Garnaut says, calling for radical overhaul of economic policy

ABC

Australia's economy has become increasingly dominated by powerful firms that are extracting "economic rents" from the system, economist Ross Garnaut is warning. "There have been big changes over the 21st century that greatly affect Australia's capacity to deliver rising standards of living to most people in a growing population," Professor Garnaut said. Professor Garnaut said "economic rent" referred to income …

Economy Policy Inflation Monetary Policy Economic Prices Interest Rates

2 years, 5 months ago

The RBA review is set to examine targeting inflation with interest rates. So has it served Australians well?

ABC

The federal government's review of the Reserve Bank has the potential to be good. That regime shift also saw the RBA becoming more "independent" from government, which meant it could make decisions about lifting or cutting interest rates without political interference. The Campbell Review in 1981 advised against absolute statutory independence, saying monetary policy had to be democratically accountable: "Proposals …

Employment Policy Inflation Monetary Policy Unemployment Bank Interest Rates

2 years, 5 months ago

Climate modelling abandoned by Abbott nine years ago reinstated by Labor government

ABC

Treasury has not modelled the economic impacts of climate change for almost a decade, after the practice was abandoned by former prime minister Tony Abbott. Key points: A major review of climate change's impact on the economy has not been commissioned for 15 years Treasury has not been asked for climate modelling since the Coalition won government in 2013 Jim …

Labor Climate Change Change Climate Coalition Economic Modelling

3 years ago

Rebecca Harding and Rozalia Russian join stylist Elliot Garnaut for a WILD Christmas party

Daily Mail

Elliot Garnaut is a massive player in Melbourne's fashion circles, and is one of Australia's most in-demand celebrity stylists. Rebecca Harding and Rozalia Russian joined Melbourne-based designer Elliot Garnaut for a VERY wild Christmas party at Di Stasio Città on Thursday There was also a hilarious secret Santa session, in which Rozalia was gifted with a funny T-shirt of with …

Funny Melbourne Santa Elliot Rozalia Rebecca Harding Garnaut Rebecca

3 years, 9 months ago

If you've been feeling poorer over the last decade, this graph explains why

ABC

Have a look at the graph below. He says the graph doesn't fully reflect how bad things have been for average workers since 2013, because an "average" rate of growth in disposable income can be pushed higher by large increases for those at the top while real household income per person for most people falls. "Economic growth continued from 2013, …

Immigration Australia Migration Budget Income Wages Average

3 years, 10 months ago

Economics professor Ross Garnaut says Australia voluntarily keeps hundreds of thousands unemployed

ABC

This could take a while to sink in. Professor Garnaut says Australia's policymakers have repeatedly miscalculated the NAIRU in recent years, meaning they have often suspected the economy is getting close to full employment when it is far from that point. That means the RBA would expect inflation and wage pressures to start building soon, because the unemployment rate was …

Employment Market Australia Unemployment Bank Economic Interest Rates

Filters

Articles for Garnaut