The Albanese government is being urged to axe Youth Allowance and create a single income support payment rate for all working-age Australians. The call comes amid warnings that people born in the 1990s are at risk of becoming the first generation in modern Australia to be worse off than their parents.
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Former ACT Greens leader Shane Rattenbury has warned that Labor and the Greens must put aside their political “tribalism” or risk being paving the way for a Liberal-One Nation partnership that would take the country “backwards” on climate action.
The last 5 years have seen the worst collapse in the value of people’s wages in living memory, and forecasts by the Reserve Bank suggest it will take till 2037 to get back to the levels they were before the collapse, which is why we need state and federal governments to take the lead to speed recovery.
There are lots of people worried that the housing changes in the federal budget are going to hurt renters by reducing the number of rental properties and pushing up prices. But there is no need to worry. These changes will not increase rents.
One of the risks for higher inflation comes from the data centre boom we are now seeing. The RBA’s liaison with business has detected that data centres are hoovering up construction workers, adding to capacity constraints in the economy.
