General government debt increases by up to 134% between June 2020 and June 2023, and total gross debt up as much as $47 billion to $118 billion in the same time period.
Our general findings are that, as in the 2017 election, electors are unenthusiastic about the two major parties. While they rate Labor ahead of the LNP on key issues, they harbour an on-balance desire to see LNP elected. This makes both parties’ positions fragile.
If the measures we take to combat a pandemic reduce economic well-being too much in an effort to protect some citizens from the disease, it will damage the health of other citizens by destroying their livelihoods or prospects.
The task to make Australia 100% clean-energy is much larger than generally thought requiring approximately 250% more electricity generation than at present.
Housing became more affordable in the first quarter of this year everywhere, apart from Hobart and on average homes are more affordable across Australia now than at any time in the last 17 years.
With the release of the December 2019 quarter figures by the ABS we have just released our most recent housing affordability report. Housing affordability in most cities remains within historically comfortable limits, so this month we also looked at one probable effect of the COVID-19 pandemic - mortgage stress.
It is now 5.83% cheaper for the average Australian to repay an average housing loan than it was in 1994, but it takes the average Australian 65% longer to save the deposit.
The recent changes will mean some less extreme outcomes in terms of revenue allocation and its effects but will still entail economic efficiency distortions in relation to incentives of State and Territory governments.
House repayments across Australia were at their lowest level for 16 years in the second quarter of this year, according to the latest ABS figures, but the average first home buyer is waiting an additional 15.12 weeks to save a deposit.
3.52% would put the LNP into the minority in council, and 6% would give Labor control in their own right, despite the LNP currently holding 60.56% of the two-party preferred vote.