Chris Richardson @ChrisEconomist
Chris from Accounts richinsight.com.au Sydney Australia Joined March 2022-
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It’s budget season, so time to explain why I love them so much The budget is Australia’s national social compact: we tax workers and businesses, and spend that on the young, the old, the sick, the poor and a defence force It’s a quarter of national income – or a third, if you…
Ouch Today's inflation is ugly Bad news if you're hoping for an interest rate cut - even late 2024 looking a bit hopeful Bad news if you're putting together a govt budget - as there's a risk more spending would push a 1st rate cut after the election abs.gov.au/statistics/eco…
You know winter is coming when Canberra's trees change colour and the Treasurer returns from Washington full of warnings Both events are seasonal But the global economy is doing better than you think - and so is the budget I'm at the 6 minute mark iview.abc.net.au/video/NU2422C0…
Greg Jericho @GrogsGamut
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Patricia Karvelas @PatsKarvelas
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Australia Drink Spike.. @DrinkSpikeAware
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360 Followers 212 Following We're being lied to. Immigration is not good for us or the economy. Immigration only benefits corporations and the govt. See: https://t.co/18qX7U7A9S
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AMP @AMP_AU
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Camel 🐪 Ⓥ @BNG__1
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here to browse @politetoafault
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Ben Westcott @Ben_Westcott
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packer @simonpacker
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Alan Kohler @AlanKohler
145K Followers 1K Following Founder of Eureka Report, finance guy on the ABC news and columnist for The New Daily
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62K Followers 4K Following Treasury, Head of Global Strategy TD, Advisor to PM, punter. Speaker at Ode Management - https://t.co/dXJoiRJt1z MD Market Economics; Also https://t.co/kxt2ibOgfj
Steven Hamilton @SHamiltonian
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Peter Tulip @peter_tulip
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20K Followers 2K Following National economics correspondent for The Age and The Sydney Morning Herald, and according to The Drum, "Australia's biggest Kate Bush fan"
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59K Followers 656 Following Labor MP in the Australian Parliament. Dad of 3. Economist. Triathlete. Author of 'The Shortest History of Economics', ‘Randomistas’, ‘Reconnected’ and more.
Alex Joiner 🇦🇺 @IFM_Economist
12K Followers 2K Following Chief Economist at IFM Investors. Aussie macro-focus. Views expressed are my own and not necessarily those of my employer. RTs not necessarily endorsements
Financial Review @FinancialReview
353K Followers 673 Following For 70 years, The Australian Financial Review has been the authority on business, finance and political news in Australia.
Elyse Dwyer @dwyerel
80 Followers 248 Following Research Economist at @E61Institute. Avid fan of baking scones. Views are my own.
Manly Warringah Sea E.. @SeaEagles
75K Followers 353 Following Welcome to the official Twitter account of the Manly Warringah Sea Eagles!
Melbourne Institute @MelbInstUOM
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@ChrisEconomist “ why I love them so much” Is this a polite way of saying “nerd alert”?
Poverty experts tell Labor jobseeker payments should be lifted to 90% of age pension theguardian.com/business/2024/…
This report on how China uses TikTok to push Chinese propaganda on Americans comes from the Network Contagion Research Institute and the Rutgers Miller Center on Policing and Community Resilience. Find it here: networkcontagion.us/wp-content/upl… NYT coverage here: nytimes.com/2024/04/24/bri…
No one deserves poor mental health or to be mocked for it. No matter your opinion of them and their actions. I can’t believe this even needs to be said.
Governments decide the where and when. ANZAC Day (for me) is to remember, whatever the geopolitics, that men and women of all backgrounds have been willing to put themselves in danger and sacrifice for what our country believes is the right thing to do.
A pollster asked Australians what they believed was the most important lesson to draw from Anzac Day. This is what it found. trib.al/Mefufwt
Wild thing, you make my heart sing…
The FT editorial board backs the US's ban on non-compete clauses, arguing there are other ways of retaining key workers & protecting trade secrets. It says scrapping non-competes should be seen "as liberalisation of employment practices" ft.com/content/111e86… #auspol #ausecon
Anzac special: An economist's take on wars bit.ly/3w670EJ
Government's own poverty experts tell Labor jobseeker payments should be lifted to 90% of age pension. Also want: * Better indexation * Rent assistance up * Abolish activity test for childcare subsidies * Overhaul employment services #auspol theguardian.com/business/2024/…
@ChrisEconomist @SHamiltonian @peter_tulip Some of the best analysis on this that I’ve heard! Love it
For perspective the tax cuts in July will cost around $20b pa and go mostly to middle and high income families. The $6B for welfare payment increases would go to mostly low income persons.
Big yarn from the WSJ today: wsj.com/economy/centra…
One simple welfare change the govt could and should make (and virtually costless over the budget's forward estimates) is to link JobSeeker and Rent Assistance to wages AND not just CPI (why treat jobseekers differently to age pensioners in that regard?) x.com/BenPhillips_AN…
Economic Inclusion Committee report out. Recommends substantial increase to JobSeeker and Rent Assistance and reform to employment services. dss.gov.au/sites/default/…
More bad news on Aust inflation with March qtr PPI +0.9%qoq/4.3%yoy up from 4.1% in Dec qtr At least import prices fell -1.8%qoq Export prices also fell -2.1%qoq So a slight fall in the terms of trade after a solid rise in the December qtr
Good news as govt debt eases. Govt debt at $891.5 billion having been broadly flat for the last two years as the budget surplus has impacted govt borrowing. Lower debt matters - in current era of high interest rates, govt debt servicing costs are contained as debt flat lines
"whatever their causes, wars are usually won by the side with the most economic resources": Ross Gittins's incisive SMH/Age review of "The Shortest History of Economics" theage.com.au/business/the-e… #auspol @1RossGittins Get your copy: blackincbooks.com.au/books/shortest… @BlackIncBooks #ausecon
tldr welfare base rates: more money more gooder rent assistance: more money more gooder employment services: make them good not bad child care: activity test bad systems and culture: big stick approach bad, dole bludger ideology bad, everyone just chill a bit
Labor's Economic Inclusion Advisory Committee has made its first report and - in a surprise to no one - made the same recommendations a laundry list of other inquiries and commissions have made over the last decade
@ChrisEconomist My 👀👀 are on the superannuation taxes line … Am I reading this correctly below (or is it roughly accurate?) that $10.5Bn was collected in Dec quarter alone against $16Bn for the full year? March quarter would have been similar too?
Large surplus in the making. Depends on how much the Budget spends. Cyclical strength in the nominal economy and labour market tightness has delivered this.
The last key building block for forecasting the budget just landed – the monthly data for March finance.gov.au/publications/c… On the one hand the budget continues to roar. Over the last 12 months, the cash underlying surplus was $31.5bn – well up on the $22.1bn in 2022-23
@ChrisEconomist Where oh where could the govt get some cash from.... and the public would be very, very happy if they did.... 🤔... clearly its a very difficult puzzle which is why both Liberal and Labor have not guarded the sovereign wealth of citizens as Norway has. x.com/simonahac/stat…
“they get 70% of the gas for free, paying no royalties” the gas industry is laughing at you western australia.
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