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at 10:20 am on May 4, 2021 | 15 comments
Below is a submission to the inquiry into Australia’s skilled migration program, written by Sustainable Population Australia with my assistance. The submission is a direct rebuke of the Morrison Government’s planned rebooting of Australia’s pre-COVID mass immigration program via giving Australian businesses easier access to migrant workers to overcome purported skills shortages.
Introduction
Sustainable Population Australia (SPA) welcomes this opportunity to make a submission to the Joint Standing Committee’s inquiry into Australia’s skilled migration program.
The comments in this submission have relevance to all the terms of reference (ToR), and have particular relevance to ToR 3 and 4.
Image source: Getty Images
Australia is currently approaching its 10th year of wage stagnation and underemployment, and Professor Ross Garnaut, the University of Melbourne’s Professorial Research Fellow in Economics, believes the situation is worse than we think.
Professor Garnaut was quoted by the ABC as saying the increasing incomes of Australia’s largest earners have been disguising falling wage growth for everyday Australians.
EY.com reported there are approximately 44 million hours each week of spare capacity in Australia’s labour market. That equates to $649 million a week not reaching household pockets.
In his new book
, Reset: Restoring Australia after the Pandemic Recession, Professor Garnaut has described the Australian economy between 2013 and 2019 as the “dog days”, and said the government’s actions keep Australian’s underemployed.
If you ve been feeling poorer over the last decade, this graph explains why abc.net.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from abc.net.au Daily Mail and Mail on Sunday newspapers.
The real reason to worry about MMT is not the theory but the practice
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Many people are alarmed by “modern monetary theory”, the seemingly radical idea that the government should cover its budget deficit simply by creating money. But in his new book,
Reset, Professor Ross Garnaut, one of our most respected economists, has joined the young turks.
And that’s not all. Last Monday I wrote about the things Reserve Bank governor Dr Philip Lowe doesn’t feel he can say out loud in this era of unconventional “monetary policy” (the manipulation of interest rates). Something else he doesn’t want to say is that the Reserve is funding the budget deficit already.
The real reason to worry about MMT is not the theory but the practice theage.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theage.com.au Daily Mail and Mail on Sunday newspapers.