‘Economic catastrophe': Australians ‘groomed' to expect government handouts
History Lecturer and Author Stephen Chavura claims Australians have been 'groomed' to become addicted to government handouts.
'The big question is what are the Liberal Party going to do in response to this,' Mr Chavura said.
'Are they going to basically behave in kind … or are they going to stick to their principles.'
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Sky News AU
2 hours ago
- Sky News AU
Treasurer Jim Chalmers warns Australians of 'perilous' threat to fuel prices over escalating Iran-Israel conflict
Treasurer Jim Chalmers has warned Australians could face a 'perilous' threat to fuel prices as global supply chains are at risk from the heated Iran-Israel conflict. Crude oil is up more than 10 per cent over the past week since Israel attacked oil facilities in Tehran and the South Pars gas field before the Islamic Republic retaliated. Concerns have also grown that Iran will block the Strait of Hormuz - the narrow waterway between the Persian Gulf and the Gulf of Oman - which facilitates the transportation of about a fifth of the world's oil. Mr Chalmers stressed the turmoil in the Middle East could add to stringent price pressures Australians already experience when they visit the bowser in the future. 'It's a perilous moment for the Middle East, but also a perilous moment for the global economy,' he told Sky News. 'The starkest way that we see the impacts of what's happening is with the oil price. Last Friday, the oil price jumped almost 11 per cent. 'This has big implications for the global economy. It has implications for inflation but also for global growth at a time when the global environment was already very uncertain.' Pressed on whether Australians would see the ramifications of this at the bowser, Mr Chalmers conceded drivers would see 'volatility' with prices. 'It's hard to imagine that any day-to-day movement in markets will be permanent,' the Treasurer said. 'We're seeing mostly volatility in the oil price. We're seeing the gold price shoot up because that's where people invest when times are uncertain. 'What that means for us is the potential of higher petrol prices usually takes a couple of weeks before the international barrel price reaches the bowser price in the suburbs and towns of Australia.' Mr Chalmers said the government had concerns about the upward pressure on petrol prices if the Israel-Iran conflict were to further deteriorate and impact sea lanes around the Middle East. He also ruled out making any changes to the fuel excise, a major promise that former opposition leader Peter Dutton took to the recent election. "We haven't changed our position on the fuel excise," Mr Chalmers said. "We've already seen a lot of volatility in petrol prices. In some parts of Australia people must have been - 12 months ago, 18 months ago - paying $2.40 at the bowser in lots of places. "That got down to $1.50, $1 60." MST Financial senior energy analyst Saul Kavonic on Monday said there were major concerns about how the conflict would escalate. 'The risk here is twofold: One, could we see Israel directly attack Iranian exports, for example, on Kharg Island, which could take one and a half million barrels a day off the market,' Mr Kavonic told Sky News' Business Now. 'But also, could we see Iran target Western oil interests in Gulf States such as Iraq, which could also knock a few million barrels a day off the market. 'Just in that kind of scenario, you could see oil approach $100 a barrel.' Israel launched Operation Rising Lion early on Friday, targeting key Iranian nuclear and military sites and reportedly killing dozens of people, including top army commanders and atomic scientists. In the days since, Iran has hit back by launching dozens of rockets and drones at Israel.
Perth Now
2 hours ago
- Perth Now
What Aussies really think of super tax
Young voters and Labor voters are among those most in favour of the Albanese government's proposed tax concession reductions for people with more than $3m in superannuation. Half of Australian voters (52 per cent) support the proposal, while about one in four (26 per cent) oppose it, YouGov polling on behalf of The Australia Institute has found. Young people aged 18-24 are about four times as likely to support the proposal as oppose it. Female voters are more than twice as likely to support the proposal as oppose it. Only 0.3 per cent of Australians – some 80,000 – have super balances north of $3m. Under the proposed changes, they would pay an additional 15 per cent on yields, which according to Treasury estimates would pump about $2.7bn into Commonwealth coffers. Some 80,000 Australians have super balances more than $3m. NewsWire / Simon Bullard. Credit: NewsWire Speaking to NewsWire, The Australia Institute executive director and former chief economist Richard Denniss said he believed it was naive to suggest young voters should be worried about tax concessions for the ultra-wealthy. 'It seems quite ridiculous to suggest that young people who can't afford to buy a house, young people who are worried about all of the pressures of modern life, should be worried about the feelings of much older people with $3m in superannuation,' he said. 'We are in a cost-of living crisis. To suggest that the big concern for most Australian voters, let alone for most young voters is the feelings of people with more than $3m in super paying a little bit more tax. Well, I just think that's naive.' Some critics have decried the proposal as a tax on unrealised gains, with others warning it could penalise younger generations down the Mr Denniss said these criticisms misinterpreted or overlooked the realities of the situation. The Australia Institute executive director Richard Denniss believes it's 'naive' to suggest young voters should be worried about tax concessions for the ultra-wealthy. NewsWire / Martin Ollman Credit: NewsWire 'The simple reality is only 80,000 of the 26 million people in Australia have got more than $3m in super. If someone finished school and started earning the average earnings on the day they finished school and worked for the rest of their life, they still wouldn't get to $3m in superannuation,' he said. 'To suggest that in time, this will be a big deal for all Australians really suggests that people making that argument have no idea what ordinary Australians are dealing with – $3 is an enormous amount of money to have in superannuation and all the government's proposing is that people that are fortunate enough to have that much get slightly smaller tax concessions than they currently do.' Mr Denniss added that it was 'pretty clear' why young people would think 'sure, pay a bit more tax, because I'd like to have access to better quality health, better quality education, and improvements to my cost of living'. The survey also found that half (50 per cent) of Australian voters believe the additional $2.7bn in revenue from these changes would make no difference to their vote at the next election. However, about one in five (19 per cent) indicated that it would make them more likely to vote Labor. Liberal senator Andrew Bragg has claimed that Prime Minister Anthony Albanese could be exempt from Labor's proposed super tax. NewsWire / Martin Ollman Credit: NewsWire Mr Denniss said that of particular interest was the higher proportion of young voters, female voters and independent voters who were more likely to support the reduction. 'It's very high risk for the Liberal Party to so soon after losing young female voters in inner city areas to come out and defend a policy that overwhelmingly helps higher income men,' he said. The survey found nearly three-quarters (72 per cent) of Australian voters see the main purpose of the superannuation system as funding their retirement. More than half (53 per cent) also believe it's there to reduce reliance on the aged pension. 'We're often told that the point of superannuation is to help people fund a dignified retirement and that the benefit of superannuation is that it takes pressure off the age pension budget. This sounds amazing, but in reality in Australia, there are people with half a billion dollars in their self-managed super funds,' Mr Denniss said. Mr Albanese is not exempt from the super tax. NewsWire / Martin Ollman Credit: NewsWire 'So unfortunately, superannuation has become a vehicle for tax minimisation for the very wealthiest Australians and giving huge tax breaks to people with half a billion dollars in super does nothing to take pressure off the age pension budget for the simple reason that someone with half a billion dollars was never going to get the age pension. 'We really need to reflect as a country on what is the point of superannuation and what is the goal of giving tax breaks to superannuation? Because giving tax breaks to people who've got half a billion dollars in their self-managed super fund makes no economic sense and it doesn't make a lot of political sense either.' The 18-34 age group showed the highest likelihood of being swayed to vote Labor due to this policy; however, South Australian voters and Coalition supporters were among the most likely to be less supportive of Labor as a result. 'The reality is that people living in the inner cities of Australia are often the highest income earners, so it's not a surprise that we see a lot of people in regional areas and a lot of people in capital cities like Adelaide and Hobart, where incomes are a lot lower than Sydney and Melbourne, are less concerned about this policy than most,' Mr Denniss said. 'But to be clear, even in the inner city, even in NSW, a majority of Australians actually think that this is a good idea.'
The Advertiser
4 hours ago
- The Advertiser
Social media a growing force in news for Australians
Australians are using social media as their main news source more than online news websites, even though they see influencers as a major misinformation threat. Though television remains the most popular source of news for Australians, social media platforms have overtaken online news for the first time in the 11-year history of the University of Canberra's Digital News Report. More than one in four Australians have turned to Facebook, TikTok and other sites as people across the world - particularly Americans - lose trust in mainstream media. While Americans were likely to see politicians as a threat of misinformation, Australians had the highest global mistrust of influencers, making traditional news brands the most popular source of news on social media. More than half of Australians are most likely to consider online personalities as a major threat of misinformation, followed by 51 per cent who point to activists, 49 per cent who say it is foreign governments, 48 per cent pinning blame on Australian political actors and 43 per cent pointing the finger at news media. New audiences in Australia are more clustered towards the centre of politics, report author and University of Canberra professor Sora Park said. "We are still open to getting exposed to views that you don't agree with, which is quite promising," she told AAP. "Trust is more based on the quality and transparency of news rather than political views." This could contribute to regional Australians' falling confidence in the news. In recent years, there has been an increase in syndicated content and a reduction in original reporting, particularly within regional areas where local news outlets have closed or contracted. Social media has filled the void, and less than half of Australians in regional areas now say they trust the news. News avoidance also remains high across the country, particularly among regional Australians, women and young people. Trust, relevance, accessibility and a perception of negativity are the biggest determinants of avoidance, with many under-35s dodging the news because they may not have the context to understand a story. Young people were more likely to turn to social media for news, especially short-form video platforms like TikTok and Instagram, but they also tended to fact check more often. Older people were found to be more at risk of falling prey to fake news. Australians are using social media as their main news source more than online news websites, even though they see influencers as a major misinformation threat. Though television remains the most popular source of news for Australians, social media platforms have overtaken online news for the first time in the 11-year history of the University of Canberra's Digital News Report. More than one in four Australians have turned to Facebook, TikTok and other sites as people across the world - particularly Americans - lose trust in mainstream media. While Americans were likely to see politicians as a threat of misinformation, Australians had the highest global mistrust of influencers, making traditional news brands the most popular source of news on social media. More than half of Australians are most likely to consider online personalities as a major threat of misinformation, followed by 51 per cent who point to activists, 49 per cent who say it is foreign governments, 48 per cent pinning blame on Australian political actors and 43 per cent pointing the finger at news media. New audiences in Australia are more clustered towards the centre of politics, report author and University of Canberra professor Sora Park said. "We are still open to getting exposed to views that you don't agree with, which is quite promising," she told AAP. "Trust is more based on the quality and transparency of news rather than political views." This could contribute to regional Australians' falling confidence in the news. In recent years, there has been an increase in syndicated content and a reduction in original reporting, particularly within regional areas where local news outlets have closed or contracted. Social media has filled the void, and less than half of Australians in regional areas now say they trust the news. News avoidance also remains high across the country, particularly among regional Australians, women and young people. Trust, relevance, accessibility and a perception of negativity are the biggest determinants of avoidance, with many under-35s dodging the news because they may not have the context to understand a story. Young people were more likely to turn to social media for news, especially short-form video platforms like TikTok and Instagram, but they also tended to fact check more often. Older people were found to be more at risk of falling prey to fake news. Australians are using social media as their main news source more than online news websites, even though they see influencers as a major misinformation threat. Though television remains the most popular source of news for Australians, social media platforms have overtaken online news for the first time in the 11-year history of the University of Canberra's Digital News Report. More than one in four Australians have turned to Facebook, TikTok and other sites as people across the world - particularly Americans - lose trust in mainstream media. While Americans were likely to see politicians as a threat of misinformation, Australians had the highest global mistrust of influencers, making traditional news brands the most popular source of news on social media. More than half of Australians are most likely to consider online personalities as a major threat of misinformation, followed by 51 per cent who point to activists, 49 per cent who say it is foreign governments, 48 per cent pinning blame on Australian political actors and 43 per cent pointing the finger at news media. New audiences in Australia are more clustered towards the centre of politics, report author and University of Canberra professor Sora Park said. "We are still open to getting exposed to views that you don't agree with, which is quite promising," she told AAP. "Trust is more based on the quality and transparency of news rather than political views." This could contribute to regional Australians' falling confidence in the news. In recent years, there has been an increase in syndicated content and a reduction in original reporting, particularly within regional areas where local news outlets have closed or contracted. Social media has filled the void, and less than half of Australians in regional areas now say they trust the news. News avoidance also remains high across the country, particularly among regional Australians, women and young people. Trust, relevance, accessibility and a perception of negativity are the biggest determinants of avoidance, with many under-35s dodging the news because they may not have the context to understand a story. Young people were more likely to turn to social media for news, especially short-form video platforms like TikTok and Instagram, but they also tended to fact check more often. Older people were found to be more at risk of falling prey to fake news. Australians are using social media as their main news source more than online news websites, even though they see influencers as a major misinformation threat. Though television remains the most popular source of news for Australians, social media platforms have overtaken online news for the first time in the 11-year history of the University of Canberra's Digital News Report. More than one in four Australians have turned to Facebook, TikTok and other sites as people across the world - particularly Americans - lose trust in mainstream media. While Americans were likely to see politicians as a threat of misinformation, Australians had the highest global mistrust of influencers, making traditional news brands the most popular source of news on social media. More than half of Australians are most likely to consider online personalities as a major threat of misinformation, followed by 51 per cent who point to activists, 49 per cent who say it is foreign governments, 48 per cent pinning blame on Australian political actors and 43 per cent pointing the finger at news media. New audiences in Australia are more clustered towards the centre of politics, report author and University of Canberra professor Sora Park said. "We are still open to getting exposed to views that you don't agree with, which is quite promising," she told AAP. "Trust is more based on the quality and transparency of news rather than political views." This could contribute to regional Australians' falling confidence in the news. In recent years, there has been an increase in syndicated content and a reduction in original reporting, particularly within regional areas where local news outlets have closed or contracted. Social media has filled the void, and less than half of Australians in regional areas now say they trust the news. News avoidance also remains high across the country, particularly among regional Australians, women and young people. Trust, relevance, accessibility and a perception of negativity are the biggest determinants of avoidance, with many under-35s dodging the news because they may not have the context to understand a story. Young people were more likely to turn to social media for news, especially short-form video platforms like TikTok and Instagram, but they also tended to fact check more often. Older people were found to be more at risk of falling prey to fake news.
