Thu 19 Mar 2026 16.00
AAP Image/Joel Carrett
Australians are already paying a price for the illegal US-Israel war on Iran, so why did the Reserve Bank double down and raise rates again?
On this episode of Dollars & Sense, Greg and Elinor discuss the economic impact of the US and Israel’s war on Iran, the Reserve Bank’s decision to raise interest rates, and why changes to the capital gains tax discount might finally be on the way.
This discussion was recorded on Thursday 19 March 2026.
What we owe the water: It’s time for a fossil fuel treaty by Kumi Naidoo, is available now for just $19.95. Use the code ‘PODVP’ at checkout to get free shipping.
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Host: Greg Jericho, Chief Economist, the Australia Institute // @grogsgamut
Host: Elinor Johnston-Leek, Senior Content Producer, the Australia Institute // @elinorjohnstonleek
Show notes:
Never waste a fuel crisis: the Albanese government must seize the moment and start taxing gas companies by Greg Jericho, Guardian Australia (March 2026)
New Analysis: Mid-East war’s hit to Australian economy, how to reduce its impact, the Australia Institute (March 2026)
Report on the Operation of the Capital Gains Tax Discount, Select Committee on the Operation of the Capital Gains Tax Discount, Parliament of Australia (March 2026)
Theme music: Blue Dot Sessions
We’d love to hear your feedback on this series, so send in your questions, comments or suggestions for future episodes to podcasts@australiainstitute.org.au.
In February the unemployment rate rose from 4.1% to 4.3%, providing further evidence the Reserve Bank misread the economy when it raised rates in both February and this week.
The Member for Wentworth is pushing for Treasurer Jim Chalmers to introduce a tax of at least 50 per cent on revenue earned above expected levels due to global supply disruptions, calling for an urgent windfall tax on gas and oil companies raking in “extraordinary profits” from the escalating conflict in the Middle East.
As we approach the Federal Budget, speculation is swirling about changes to the Capital Gains Tax (CGT) discount and negative gearing. And just yesterday a senate committee handed down its report on the CGT discount after hearing evidence that it worsens inequality and encourages property investors to gamble on housing.
