Alison Pennington

The federal government can deliver power directly to Australian industry at almost half the price of private sector. Launching proposal for Sovereign Power with ETU at National Press Club. Build, owned & deliver cheap electricity with SP!

New war inflation is hitting workers in high petrol prices. Next it'll be interest rate hikes & calls for gov't spending cuts. But oil prices won't stabilise coz workers hand $400/mth extra to banks in mortgage payments! This is supply-side inflation like COVID & 2022 surge after Russia-Ukraine.

Inflation targeting is not the answer. IMF found inflation was approx 1.5 %points higher after 2022 shock in countries whose central banks focused on inflation targeting (orange line), than those that didn't (blue). Inflation also *fell faster* in countries that didn’t target inflation.

Extreme land wealth is key driver of rising wealth inequality - a crisis undermining homeownership for workers & future generations. We need action. Great coverage today on our proposal to tax ultra-wealthy individuals with land fortunes +$20m to fund stamp duty cuts for homebuyers of new homes. 1/4

Read more on how our proposal can deliver cheaper housing for non-investors through a tax on extreme land wealth >>> 4/4 www.news.com.au/finance/ultr...

Extreme land wealth is key driver of rising wealth inequality - a crisis undermining homeownership for workers & future generations. We need action. Great coverage today on our proposal to tax ultra-wealthy individuals with land fortunes +$20m to fund stamp duty cuts for homebuyers of new homes. 1/4

As I tell News .com, “Average workers are forced to hand over 1/4 of their pay packet every fortnight, while ultra-wealthy landholders quietly accumulate millions of dollars in unearned gains that remain untaxed for decades.” We need to address this unfairness in the tax system. 2/4

Interesting piece on RBA economists' 'dirty little secret' - they want more unemployment. Aus's ability to bring inflation down, avoid recession & retain high employment is good by internl standards. Workers paid in real wage losses & higher mortgage repayments. But at least they had jobs right? 1/7

Like workers organise for higher wages, business organises to protect profit margins. Privatisation and new ‘markets’ in government-funded services increased their upper hand. All in all? Low unemployment is entirely compatible with high profits, and therefore, higher inflation. 6/7

Interesting piece on RBA economists' 'dirty little secret' - they want more unemployment. Aus's ability to bring inflation down, avoid recession & retain high employment is good by internl standards. Workers paid in real wage losses & higher mortgage repayments. But at least they had jobs right? 1/7

But the restructuring of jobs since the 1980s on a more insecure, less dependable basis means labour can be employed at high levels without any risk that wages growth encroaches upon profit margins. 4/7

Interesting piece on RBA economists' 'dirty little secret' - they want more unemployment. Aus's ability to bring inflation down, avoid recession & retain high employment is good by internl standards. Workers paid in real wage losses & higher mortgage repayments. But at least they had jobs right? 1/7

But there is a more sinister backdrop to this Keynesian ‘high employment’ success & it means the de-coupling of employment from inflation is not really that baffling. 2/7