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The Latest Breaking News from Saul Eslake

Where did the RBA find evidence of wage growth?

The Reserve Bank of Australia is facing a federal government review, and we found one good reason for it: Wages growth data has come from a source that an expert called not "statistically valid".

ABC News

Open letter: the RBA review needs to be completely independent of government

This is the text of an open letter from 12 leading economists, sent on Sunday:

The Conversation

Jim Chalmers banks on capital spending to help ease cost-of-living crisis

New treasurer says Labor is ‘not contemplating’ extending fuel excise cut or low and middle income tax offset

The Guardian - AU

From analysis to the latest developments in health,
read the most diverse news in one place.

Should you leave your money in superannuation or put it towards a deposit for a first home?

Allowing first home buyers to draw their superannuation will likely, over time, push up house prices, according to many leading economists, but are you better off leaving your money in your super fund or pulling it out for a home deposit?

ABC News

Coalition super housing policy likely to inflate prices by increasing demand, analysts say

Saul Eslake points to ‘unambiguous and unequivocal evidence’ showing such policies lift prices rather than home ownership

The Guardian - AU

Government minister admits first home buyer policy would push up house prices, PM says other policies would balance it out

Jane Hume concedes the policy would see house prices increase "temporarily", something economists and the opposition are warning will happen.

ABC News

Paul Keating attacks Coalition’s super for housing policy as economists warn of soaring prices

A Coalition plan to allow first-home buyers to use their superannuation to buy property has been slammed by Paul Keating as a "frontal assault" on super.

The New Daily

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Markets turmoil and interest rate rises: the economic challenges facing Australia after the election

Soaring energy costs, stagflation fears and calls for higher wages are just some of the bumps in the road awaiting a new or returned government

The Guardian - AU

Vic to spend $12b on health post-COVID

Stretched to its limits over the past two years, Victoria's health system will receive a $12 billion boost as part of this year's pre-election budget.

AAP

Will the RBA lift the cash rate this week to counter inflation – or wait until after the election?

Analysis: The Reserve Bank of Australia finds itself in a strategic and political bind. Credibility is at stake

The Guardian - AU

Clive Palmer’s campaign pledge to cap home loan rates ‘utterly irresponsible’, experts say

United Australia party plan to combat rising rates an ‘just an attention grabber’ and not genuine policy, critics say

The Guardian - AU

Jim Chalmers says the current government has taxed, borrowed and spent more than Labor did. Is that correct?

Shadow Treasurer Jim Chalmers says the current government has taxed, borrowed and spent more than the previous Labor government. RMIT ABC Fact Check takes a look at his claim.

ABC News

Politics with Michelle Grattan: Economist Saul Eslake on why Reserve Bank needs to raise rates next week

After Wednesday’s larger-than-expected inflation number, all attention has turned to the Reserve Bank’s meeting on Tuesday. If the bank moves next week, it will be the first time there’s been a rise in a campaign since 2007, the election John Howard lost.

The Conversation

He's the treasurer who may become the next leader of the Liberal Party. So how high can Josh Frydenberg fly?

`This is the first in a two-part series on the major parties’ Treasury spokespeople. You can read Carol Johnson’s profile of Jim Chalmers here.

The Conversation

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ABC News

Worldwide coffee bean shortages and rising fuel prices hit cafes hard, with price spikes here to stay

There's a lot more that goes into your daily caffeine hit than you may imagine and small businesses are bearing the brunt of rising input costs. Now you'll have to fork out the difference.

ABC News

Business calls for political 'courage' to confront industrial relations reform

Business groups are urging both political leaders to show "courage" and confront the politically fraught issue of industrial relations, arguing any benefits of future wage growth could be delayed by an inflexible enterprise bargaining system.

The Conversation

Forget the election gaffes: Australia's unemployment rate of 4% is good news – and set to get even better by polling day

When Labor leader Anthony Albanese couldn’t say whether the unemployment rate was 5% or 4% on Monday, he might have had a point.

The Conversation

One issue matters more to top economists than any other this election: climate change

Offered a menu of issues to choose from as the most important in the May 21 election, Australia’s top economists have overwhelmingly zeroed in on one.

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The Guardian - AU

Scott Morrison spruiks Australia’s post-Covid jobs recovery. We factcheck him

PM says Covid had a much greater economic impact than the GFC but employment outcomes have been much better post-pandemic. Correct?

ABC News

With WA’s budget surplus surging, its GST share is also skyrocketing as the federal election looms

WA's budget surplus is forecast to be an eye-watering $8 billion, yet it will soon receive more than $4 billion in extra GST revenue. While critics label the situation "scandalous", neither party seems willing to upset the apple cart on the eve of a federal election.

The New Daily

‘It’s over’: The COVID property boom is ending as prices fall in Sydney and Melbourne

March house price falls will be welcomed by buyers after a two-year boom that's seen property values rise by 18.2 per cent over the past year alone.

The Guardian - AU

‘My coffee has gone up $6,500 a year’: Australian businesses emerging from Covid crisis struggle with food price hikes

Cafes and food producers across country are grappling with the dilemma of whether they can pass on rising costs to customers and remain competitive

The New Daily

The fuel excise debate isn’t going away. Here are the pros and cons of cutting it

Calls for tax relief are growing as petrol prices hit fresh record highs, with the government now under pressure from its own MPs to ease the bowser pain.

The New Daily

How war in Ukraine is affecting your superannuation account

Superannuation has turned down in 2022 because of rising interest rates and the effects of Russia's vicious invasion of Ukraine.

ABC News

Land tax in Tasmania is about to get slashed. Here's what impact it'll have

Tasmanian government-proposed tax relief is hoped to ease the cost of living for owners of rental properties, shacks, vacant land and commercial property. But an expert says it is unlikely to benefit tenants.

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