INCOME – AUSTRALIA

National income pie shrinks

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Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 8 : 4-Sep-14

New figures show that there was an 0.4 per cent decline in Australia’s real net national disposable income during the 2013-14 financial year. This followed a 1.6 per cent decline in 2012-13, and it is the first time since the early 1990s that national income has fallen in two successive years. Meanwhile, wages rose by 1.3 per cent in 2013-14, while there was 0.5 per cent growth in GDP during the June 2014 quarter

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, UNIVERSITY OF MELBOURNE, RESERVE BANK OF AUSTRALIA, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Share of top 1 per cent flattens out

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Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 4 : 28-Jul-14

The University of Melbourne has used tax data to estimate that Australia’s highest income-earners accounted for 7.7 per cent of the nation’s income in 2011. This has remained relatively steady since 2006, after rising in the previous two decades or so. In contrast, the so-called one per cent in the US account for nearly 20 per cent of national income, a figure that has risen significantly in the last decade. However, shadow assistant treasurer Andrew Leigh contends that income inequality in Australia is at a long-term high

CORPORATES
UNIVERSITY OF MELBOURNE, AUSTRALIAN NATIONAL UNIVERSITY, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, PARIS SCHOOL OF ECONOMICS, UNIVERSITY OF MELBOURNE. INSTITUTE OF APPLIED ECONOMIC AND SOCIAL RESEARCH

Treasury says lower $A to avoid income crunch

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Original article by Jacob Greber
The Australian Financial Review – Page: 1-Feb : 22-Jul-14

The Melbourne Economic Forum has warned of the need for a reduction in real wages and higher productivity to avert a decline in Australians’ standard of living. However, Professor Ian McDonald of Melbourne University believes that the economic modelling has too much emphasis on productivity. Meanwhile, federal Treasury economist David Gruen told the forum that the Australian dollar is likely to fall in coming years, which will assist the transition from the mining boom

CORPORATES
MELBOURNE ECONOMIC FORUM, UNIVERSITY OF MELBOURNE, AUSTRALIA. DEPT OF THE TREASURY, VICTORIA UNIVERSITY. CENTRE OF POLICY STUDIES, AUSTRALIAN LABOR PARTY, RESERVE BANK OF AUSTRALIA