Fossil fuels were the worst performing sector in the ASX 300 over the last decade. $100 invested in the fossil fuel dominated S&P ASX 300 Energy index in 2010 was worth just $104 by January 2020, dropping to $51 with COVID. $100 in the wider market peaked at $237, falling to $169 with COVID. Excluding fossil fuels from a portfolio of the ASX 300 would have increased returns by 8.6% over the decade.
The health response to COVID-19 has resulted in large increases in measured unemployment and underemployment as well as large falls in the total number of hours worked. While the size of these labour market effects has been widely discussed, the gender distribution of these impacts has not.
by Ebony Bennett
[Originally published in the Canberrra Times, 27 June 2020]
The Morrison government did a great job managing the pandemic, but where Scott Morrison has really excelled is making the recession worse.
A new discussion paper from The Australia Institute has outlined how Australia could emerge from the COVID-19 crisis as one of the richest countries in the world while gaining long-lasting benefits from economic stimulus projects and a renewed faith in the effectiveness of democratic governance.
“The response to COVID-19 will cost hundreds of billions of dollars and such spending has the potential to not just create jobs, but to create a new Australia, if we want it to,” said Dr. Richard Denniss, chief economist at The Australia Institute.
The poker machine industry has been shut down in Tasmania since the 24th of March. The industry is set to re-open on Friday the 26th of June.
Re-opening these venues will provide immediate employment to staff previously stood down. However, our research shows that, in broader terms, poker machines (“pokies”, “electronic gaming machines” or “EGMs”) are a drain on the state economy and on jobs.
New research from The Australia Institute has found that the economy and climate change are the two most important issues for voters in the seat of Eden-Monaro, with a majority of voters saying economic stimulus following the COVID-19 crisis should also address and build our resilience to climate change.
The Australia Institute commissioned uComms to conduct a survey of 643 residents across the New South Wales federal electorate of Eden-Monaro on the night of 15th June 2020.
Australians can lay to rest concern over incurring and repaying government debt, as new research shows urgent spending required in response to the COVID-19 pandemic will not create a debt burden, and therefore should not provoke future austerity measures to ‘repay the debt’.
The report, released today by the Australia Institute, reveals misunderstanding around how private and public finance works, and incorrectly extending private concerns to the public sector, have heightened misplaced fears around the sustainability of government debt.
Treasury forecasts unemployment rising to 10 per cent in the June quarter and that without the JobKeeper allowance unemployment would be 5 per cent higher at 15 per cent. The Government responded with a series of spending packages with a cumulative total of $193.6 billion. That inevitably means more deficit spending over and the next six months and probably well beyond that.
New research from The Australia Institute’s Climate & Energy program has shown that an orderly approach to phasing-out thermal coal would shield Australian workers, communities and the economy from the negative consequences of an unmanaged transition.