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9 News
5 days ago
- Business
- 9 News
The crucial factor that could soon cost every Aussie $14,000 a year
Your web browser is no longer supported. To improve your experience update it here Productivity: it's the crucial economic principle that has helped propel Australians into some of the best living standards in the world. But even as politicians and economists discuss it more and more, ahead of the federal government's crucial upcoming roundtable, it's something that many people still don't quite understand. So what actually is productivity, and why are experts so concerned with it at the moment? This is what you need to know. Productivity has driven the massive improvement in Australian living standards since mid-last century. (Edwina Pickles/SMH) Think of productivity as working smarter, not harder. Economically speaking, productivity is the amount of output you get from a set of inputs. Inputs are things like labour – often measured as the number of employees or number of hours worked – and capital, while output is the amount of goods and services produced. For a basic example, let's say a fast food outlet employs five staff, who work a combined 200 hours per week, and produces 5000 burgers over the course of that week. Its productivity would be 25 burgers per hour worked. So, put super simply, productivity is how much stuff you get from a set amount of effort. Productivity growth has been slowing in Australia and most other advanced economies. (Louie Douvis/AFR) Productivity itself isn't falling, but productivity growth is most certainly on the decline in Australia. The Australian Bureau of Statistics' (ABS) main, top-line measure of productivity growth has fallen substantially in recent years. In 2022-23, the 20-year average annual growth rate had fallen to 0.9 per cent, down from 1.2 per cent the year before and just half of the 1.8 per cent it was in 2003-04. It's important to note this problem isn't unique to Australia; just about every developed country is experiencing slowing productivity. Improved productivity is responsible for Australians' improved living standards. It leads to higher wages, more (and cheaper and better-quality) goods and services available, bigger profits for businesses, and overall economic growth. It also even paves the way for more leisure time; according to the Productivity Commission, the average Australian now spends five fewer hours at work every week than in 1960 due to better productivity. But if growth continues to slow, it puts all those benefits at risk. Improved productivity has allowed companies to produce more goods that are both cheaper and better quality. (Getty) To put a dollar figure on it, the Productivity Commission estimates that full-time workers will be $14,000 a year worse off by 2035 if Australia can't rediscover its previous growth and instead continues on its current trend. "The implications of that, I think, are already being felt," RBA Governor Michele Bullock said on August 12. "Real wages are not rising by very much, because that's the implication of slow productivity growth is that real wages can't grow as quickly. "If we can get productivity growth up, that will allow for more growth in real wages, which is ultimately good for Australians." Artificial intelligence has been touted as a potential productivity gamechanger. (Getty) While economists have been discussing productivity for decades – the Productivity Commission was established in the late '90s – a few developments have thrust it very firmly into the public eye. That came a week out from the federal government's productivity roundtable (officially the Economic Reform Roundtable), which was announced by Prime Minister Anthony Albanese in June. RBA Governor Michelle Bullock has warned Australians are already feeling the pinch of slowing productivity growth. (Dominic Lorrimer) The roundtable, to be held from August 19-21 in Canberra, will be a three-day discussion involving business and union leaders about how to address stagnating productivity growth. Many of the ideas put forward ahead of the summit have focused on tax (although AI, regulation, and even a four-day working week have also been discussed), following these comments made by Treasurer Jim Chalmers in June. "No sensible progress can be made on productivity, resilience or budget sustainability without proper consideration of more tax reform," he told the National Press Club. "I don't just accept that, I welcome it. Tax is one of many ways our three primary economic challenges are related." Treasurer Jim Chalmers flagged the economic roundtable could lead to tax reform. (Rohan Thomson/AFR) That's the trillion-dollar question. Albanese has been giving mixed messages, at one point ruling out any new tax reform ("the only tax policy that we're implementing is the one that we took to the election") and reminding everyone that he and his ministers get final say on any productivity solutions ("governments make government policy"). But the prime minister has also welcomed the glut of proposals he and Chalmers have been presented with, and has insisted he's "up for big reform" – although it might be something he takes to the next election in 2028. "We're up for discussion, and one of the things I said very clearly was we weren't going to get into the rule-in, rule-out game," he told ABC radio. "We have a big agenda. We were elected with a clear mandate on May 3. That's our priority, delivering on that. "But we're also up for ideas and we're up for things that can be done immediately. If they will improve the economy, then of course we'll give it consideration." Anthony Albanese has ruled out any new tax reform but at the same time said he's open to big ideas. (James Brickwood) Respected economist Richard Holden, who along with independent MP Kate Chaney proposed a revised GST model for the roundtable , said it was crucial that proper reform does come out of the summit. "That's the question: is the upcoming August 19 roundtable going to be a moment for genuinely thinking about bold ideas?" he said. "Or is it going to be another one of these pro-forma... we have three days, we'll put out a press release and we go back to normal? "I hope it's the former." CONTACT US Property News: Rubbish-strewn house overtaken by mould asks $1.2 million.
Sydney Morning Herald
11-08-2025
- Business
- Sydney Morning Herald
Sydney waterfront dining: Felons Seafood restaurant at Manly Wharf serves four choices of fish and chips, mud crab and more
The views are stunning, the fish are jumping, but something's missing from this new waterside restaurant. August 12, 2025 , register or subscribe to save articles for later. You have reached your maximum number of saved items. Remove items from your saved list to add more. Save this article for later Add articles to your saved list and come back to them anytime. 1 / 11 Felons Seafood's location, right on the water on Manly Wharf's East Esplanade, is an open invitation for a long lunch. Edwina Pickles 2 / 11 Northern Territory mud crab in a warm, South-East Asian-style black pepper sauce. Edwina Pickles 3 / 11 Choose from four different fish for the traditional fish and chips. Edwina Pickles 4 / 11 Potato scallops are fancified with a cool, herby blue-swimmer crab remoulade. Edwina Pickles 5 / 11 Edwina Pickles 6 / 11 Felons Seafood is the next step in Manly Wharf domination for the Artemus Group. Edwina Pickles 7 / 11 Queensland coral trout cooked in the Josper oven. Edwina Pickles 8 / 11 Buttermilk soft serve. Edwina Pickles 9 / 11 Edwina Pickles 10 / 11 Edwina Pickles 11 / 11 Edwina Pickles 13.5 /20 Seafood $$$ $ It's quite an undertaking for a brewery to step into the world of demi-fine dining, but here's Felons Seafood, the next step in Manly Wharf domination for the Artemus Group (the developers behind popular Brisbane dining precinct Howard Smith Wharves). It started with Felons Brewery – a fun, large-scale brewpub with views across the water on the West Esplanade, and continues with this restaurant, which opened in June and is overseen by chefs Corey Costelloe (owner of Marrickville neighbourhood bistro 20 Chapel) and Luke Bourke ( The Sydney Morning Herald Good Food Guide 's current Young Chef of the Year). The pair, who spent a decade together working at Rockpool Bar & Grill in Sydney, have co-created a menu focused on responsibly caught fish, treated with respect and care. The location, right on the water on Manly Wharf's East Esplanade, is an open invitation for a long lunch. Inside, a dining room of neutrals and rattan, offset by touches of navy. Floor-to-ceiling wood-framed French windows wrap around the restaurant, waiting to be opened in warmer months to let in the sea breeze. Outside, tables hug the perimeter of the restaurant with big blue umbrellas up during the day, and gas heaters at night. Choose from four different fish for the traditional fish and chips. Edwina Pickles This is a deep dive into the seafood culture that once defined the Aussie coast, combined with strong Mediterranean sensibilities. Nothing is overly embellished, and the fish takes pride of plate. Potato scallops are fried to deeply golden and crisp, fancified with a cool, herby blue-swimmer crab remoulade. A bouncy Mooloolaba king prawn cocktail is served on a bed of shredded lettuce dressed in a classic Marie Rose sauce, served with a side of buttered brown bread. Fun with a tropical fruit-forward Galaxy Haze pale ale. There are a few menu items that make use of Felons' beer range, but it's more of a subtle taster than a schooner in your face. The traditional fish and chips feature a choice of four fish, including the classic dusky flathead and (my pick) spangled emperor. The goujon (or tail end) is fried in a crisp lager batter until strawberry-blonde and served on a bed of tallow-fried, skin-on chips with tartare sauce. Order the mignonette salad on the side, all sharp corners and mustard-bitey, or the green Greek salad – three types of cucumber, two types of capsicum, green olives, toasted sunflower seeds, soft feta and a dusting of oregano. A beautiful echo of a proper fishing town chipper. Northern Territory mud crab in a warm, South-East Asian-style black pepper sauce. Edwina Pickles The food is good. Great, even, at times. Look at that delicate fillet of Queensland coral trout cooked in the Josper oven, the skin seared until crisp and the flesh just-set. It's served simply with aioli, romesco sauce and a wedge of lemon. Then there's the Northern Territory mud crab bathing in a warm, South-East Asian-style black pepper sauce dotted with crisp-fried curry leaves, and a stack of flaky roti tucked in among the legs and claws. The technical prowess on the plate is undeniable. It's just a shame it's let down by inexperienced waitstaff who give the strong impression they'd rather be anywhere else on the planet than serving tables. Queensland coral trout cooked in the Josper oven. Edwina Pickles There's a lot of rushing about and plenty of staff, as far as I can see, but not a lot of friendliness or practical care when it comes to the basics. I'll probably go to my grave, for instance, wondering why our waitress chooses to place that $90 crab, not on the table, but on the spare chair on top of my coat and bag. Or why, on the same visit, we're seated outside at night in the middle of winter without asking where we might be comfortable. Sure, a few strong floor members are doing their best, but it's a big ship to steer when the majority of your crewmates are inexperienced. If you can see past the service, the food really is worth a look. Order a dozen pristine, fresh-shucked rock oysters with plenty of brine and a side of Baker Bleu bread and salty butter. Don't bother ordering anything by the glass (the danger of not being able to order a follow-up glass is clear and present), but do consider a bottle of crisp white wine like the Kir-Yianni Assyrtiko – just the right amount of crispness and pear fruitiness. Go hard on the whole fish and the snacks, and end by sharing the unapologetically tart buttermilk soft serve sweetened with a drizzle of bittersweet stout caramel. Consider walking, not running, and making some time for a long lunch during the warmer months. Atmosphere: Sunny, bougie-casual and family friendly Go-to dishes: Black pepper crab ($90); traditional fish and chips ($28-36); potato scallop ($28); buttermilk soft serve ($14) Drinks: A neat selection of Felons beers on tap and a surprisingly hefty wine selection for a restaurant opened by a brewery Cost: About $200 for two, excluding drinks Good Food reviews are booked anonymously and paid independently. A restaurant can't pay for a review or inclusion in the Good Food Guide. Restaurant reviews, news and the hottest openings served to your inbox. Sign up
9 News
10-08-2025
- Climate
- 9 News
City lashed by record-breaking rain after wettest start to August in nine years
Your web browser is no longer supported. To improve your experience update it here Sydney has recorded its wettest August in nine years, with only one dry day so far as the last weeks of winter send an icy rain blast across the east coast. This month is only 10 days in and Sydney has already exceeded its long-term rain average with 98mm of rainfall accumulated up until Friday, Weatherzone reports. It already marks the city's rainiest August since 2016 and the 11th wettest start to the month in the past 168 years. Sydney has already recorded its wettest August since 2016. (AccuWeather) The rain also broke a dry spell for the annual City2surf today as 90,000 people pounded the wet pavement in the NSW capital. It was the first wet race day since 2012, soaking runners with cold winter rain as they made the 14km trek from the CBD to Bondi Beach. Around 20-30mm of rain fell overnight in the Sydney region before runners woke early to meet near Hyde Park to begin the race. More rainfall is forecast in Sydney later today and isolated rainfall is expected around coastal fringes heading down to Illawarra today and tomorrow. Despite the record-breaking rainfall, Sydneysiders are going to cop more wet weather tomorrow and Tuesday. The rain also broke a dry spell for the annual City2surf today as 90,000 people pounded the wet pavement in the NSW capital. (Edwina Pickles) The Bureau of Meteorology forecasts light showers for the next two days, with 7mm of rainfall expected tomorrow and another 2mm of rain the following day. There is also a chance the rain will continue into Wednesday, however the BoM expects the wet weather will clear up by Thursday. A high pressure ridge is believed to be weakening over eastern NSW, bringing some relief as the weather slowly nudges towards spring. The sun is expected to shine in Melbourne tomorrow before some light showers on Tuesday and Friday into Saturday next week. Weather Weather News Sydney New South Wales Rain Rainfall Australia national CONTACT US
The Age
07-05-2025
- Entertainment
- The Age
Where Firedoor chef Lennox Hastie likes to eat in Sydney, Melbourne and San Sebastian
From a 'killer' sandwich at a Sydney wine bar to Victoria's long lunch destination of dreams, Firedoor's Lennox Hastie shares his favourite food and drink finds. , register or subscribe to save recipes for later. You have reached your maximum number of saved items. Remove items from your saved list to add more. Save this article for later Add articles to your saved list and come back to them anytime. It's been 10 years since UK-born chef Lennox Hastie opened his two-hatted Sydney restaurant Firedoor, the 2023 SMH Good Food Guide Restaurant of the Year. Now he brings his earth, water and fire charm to Tasting Australia, curating the menu for the Elemental Dining Series — making this his third appearance at South Australia's popular culinary festival, which is happening now until May 11. Chef Lennox Hastie in the kitchen of his restaurant, Firedoor. Edwina Pickles A five-year stint at current World's 50 Best number two restaurant Asador Etxebarri in Spain led to him opening the Basque-inspired Surry Hills wine bar, Gildas, in 2022. Recently, he bought out his business partner to become sole owner of Firedoor. Hastie took some time out to share his eating in and eating out favourites at home and in San Sebastian, the Spanish city he says inspired his famously flame-licked style of cooking at Firedoor. Chef Lennox Hastie cooking over flames at Firedoor. Edwina Pickles My signature dish and go-to at home It's grilled fish — barramundi with oil, lemon and a simple salad. Guilty pleasure I am sucker for cold custard. I will consume it straight from the fridge with a spoon. The kitchen wisdom I cling to I always say cook the food you want to eat — it sounds stupidly obvious but it's everything. You have to make yourself happy first. You have to choose the ingredients you want and there's nothing worse than cooking something you don't love. I am also definitely guilty of being the chef who uses every pot and pan in the kitchen at home, but I'd say clean as you go. That said, if I cook, my wife cleans up. My favourite hometown restaurant I look for places that are individual owner operated. In Surry Hills, Sang by Mabasa is a beautiful small restaurant run by a mum and dad duo, while their son and daughter work the floor. I can't go past their kimchi or shallot pancake. My favourite local cafe, bar and takeaway I love AP Bakery — it's just up the road from us, and because you can go to the rooftop, it makes the perfect escape in the city. I can't go past their Aleppo pepper and Asiago cheese scroll. When it comes to a local bar, it's Bar Copains. It's got a killer whiting sandwich on the menu. I also love a martini, I'm a straight shooter in that department, but also love a good wine by the glass if I want to try something I haven't before. Hastie loves the whiting sandwich at Bar Copains. Edwina Pickles There's a hole-in-the-wall Chinese dumpling spot in Cremorne called Fang Dumpling House. It's where we go for a quick takeaway. Favourite restaurant experience in Australia A long lunch at Tedesca Osteria in Red Hill in Victoria. It's the whole package — the fire, the garden, the rhythm of the kitchen, it's relaxed warm and welcoming. Chef Brigitte Hafner has an incredible love of ingredients that she wants to share. We ate the grilled duck, and she made the legs into a cassoulet with green beans. We dined there last year and are still talking about it. Anchovy on toast at Napier Quarter cafe and wine bar in Fitzroy. Eddie Jim When in Melbourne I love to eat at Fitzroy wine bar Napier Quarter. It's a firm favourite — incredible, understated and delicious. The anchovy on toast is great any time of the day. I always love Embla – it's not the new kid on the block but it gently hums to its own tune and Dave Verheul is an understated brilliant chef. His cooking is super sharp, seasonal and on point — it's a great bar and restaurant. Any of the raw beef or raw vegetable dishes with fermented pepper or chilli wins me over every time. I've been to Caretaker's Cottage bar a few times. It's a cracker — the atmosphere, the size, the welcome and its accomplished list of cocktails. I love coffee and tea and hit them hard. When in Melbourne, it's Market Lane for a double espresso. Caretaker's Cottage bar: 'It's a cracker'. Supplied ON THE ROAD Favourite food city My heart always goes back to San Sebastian in Spain. I went there as a young chef in 2004 to check it out and find some work, and spent five years there. I was hooked, it's an incredible traditional culinary place, where they respect food culture and the ingredients but also a place where there is a huge amount of creativity. You can eat well on every single level from the bars to high-end dining. Elkano is a traditional seaside grill where the food is incredibly done. Order a whole grilled turbot, baby squid and hake 'throats' so beautifully done with so much flavour. Bar Nestor is a classic spot to visit. They make tortillas twice a day and make a beautiful tomato salad and a great beef chop – think steak, fire and salt and nothing else. At Casa Camara live seafood is kept in the basement, which floods twice a day with the tide. Supplied Casa Camara it's a house that drops into the sea, it's spectacular. The dining room has a hole that runs directly into the sea and they pull up massive lobster pots and you choose your own lobster and they cook it for you there and then. If you're looking for somewhere to stay, I recommend the Lasala Plaza Hotel in the old town, or the classic Maria Cristina – a luxury hotel with a good bar.
