Australia’s welding industry has accused the Reserve Bank of making it harder for manufacturers to lift productivity, arguing higher interest rates are strangling investment in the technology and training needed to improve it.
The latest corporate tax data released today by the Australian Tax Office (ATO) showed that once again, major gas producers are paying no company tax, and despite claims that changes to the Petroleum Rent Resources Tax (PRRT) would deliver “more revenue sooner”, the PRRT in 2024-25 raised less tax than in 2020-21.
Domestic data does not support the decision to raise interest rates. Being wrong in the right company (the market and conservative economists) might make for easier dinner parties and congratulatory op-eds in the financial pages, but it does nothing to look after the welfare – economic and otherwise – of the Australian people.
On this episode of What’s the Point?, Richard Denniss discusses the important distinction between consumerism and materialism and why being ‘materialistic’ isn’t necessarily a bad thing.
This episode was recorded on Thursday 1 October.
Read more on The Point.
Enter the code CURED to get 25% off Curing Affluenza: How to buy less stuff and save the world by Richard Denniss via Australia Institute Press.
Host: Richard Denniss, co-Chief Executive Officer, the Australia Institute // @richarddenniss
Host: Anna Chang, Managing Editor, The Point // @annachang
Quality research, analysis, explainers and factchecks from experts you can trust.
Show notes:
Hon Dr Jim Chalmers MP | Bernie Fraser Oration 2026, the Australia Institute
Revenue Summit 2026, the Australia Institute
More Fool Me: How the gas industry tricked Australia by Richard Denniss, Australia Institute Press (August 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. Subscribe to What’s the Point? with Richard Denniss on YouTube, Apple Podcasts, Spotify or wherever you get your favourite podcasts.
