Misplaced negativity blocks social progress

As Alan Austin reports, tackling Australia’s urgent reforms requires more trust and less division.

50 YEARS AGO this year, a young federal parliamentarian studied with intense interest a detailed report submitted by the National Committee of Inquiry, chaired by the historian. Keith Hancock. Subject – pension – was unknown to most Australians at the time.

He then decided to make this obscure privilege, available only to top bureaucrats and corporate executives, universally accessible.

Thirty years ago this year, that visionary MP, Paul John KeatingHe left his post as Prime Minister in a controversial manner. the best in the world national pension scheme
Nearly 18 million Australians now own more than $4.5 trillion hid. This provides vital capital for mining, industrial development and all business investment. All of these provide good returns for savers.

Good economic news continues to come

Bureau of Statistics (ABSs) recommends that there are more than 165,000 jobs was created The number of months in which Australia’s unemployment rate was below 4.5% rose to 49 last year. inflation It stood at 3.76% and months went from less than 4% to 25%. Annual GDP growth remained positive throughout the year, extending this streak to 19 quarters.

Interest rates were cut three times last year but rose to 3.85% last week, marking 14 years of interest rates below 4.5%. Fourteen. Years.

So how often has Australia experienced such high employment, low inflation, low interest rates and positive growth since record keeping? The answer is… it’s never happened before.

The other good news is that the Australian dollar has just appreciated. rose It rose above 70 US cents (99 AU cents) and 110 Japanese yen (AU$1) for the first time in three years. Following the new investment of the Albanian Government authorityThe Future Fund grew by almost $30 billion last year. return 12.4%.

Comparisons with similar economies

When we look abroad, we see how many of the 38 people have progressed. OECD Members, do you know that currently the unemployment rate is below 4.2%, inflation is below 3.8%, interest rates are at or below 3.85%, annual GDP growth is above 2% and has recorded positive growth for over two years?

The answer is two. Australia And Denmark. But youth unemployment is lower in Australia lower taxes and wealth per capita is higher than in Denmark.

So why are Australians so desperate? Why was there such a thing suffering Due to the small increase in interest rates last week during retail spending mini explosion?

Media feeds melancholy

The constant message from the mainstream media and powerful institutions is that you will feel sad and depressed about your dreary lives, no matter how safe, comfortable and well-managed you actually are.

An example of this is a detailed analysis by ABC News last Wednesday. ABS data about cost-of-living increases across society.

with title ‘Living costs are rising for everyone, but some are being hit harder’, article reported the impact of inflation on retirees, welfare recipients, and working households.

He claimed that ‘Cost of living pressures are felt by all households, but some are more affected than others’.

In an egregious failure of journalism, the analysis did not match cost increases for the year with revenue increases. It only disclosed increased spending.

According to records, the living expenses of employees increased by 2.3%, while the minimum wage increased. augmented 3.5% and average fees lifted 3.4%. Costs for social security beneficiaries increased by 4.1%, while benefits augmented Between 3.2% and 4.3%. While expenses of elderly retirees increased by 4.2%, pensions augmented about 3.6%. Most importantly, costs for self-funded retirees increased by 3.3%, while their pension balances also increased. rose 9.3%.

So while not all Australians had higher standards of living, the vast majority certainly did.

IA. He wrote to ABC News to question this omission but received no response.

A recently published article Guard It was titled ‘Australia spends more on tax breaks for landlords than on social housing, homelessness and rental benefits combined’. For 2024-25 he claimed: ‘Total spending on basic housing assistance programs reached $9.6 billion’.

This is clearly wrong.

Productivity Commission data When analyzed here last week, the total was clearly $24.9 billion:

Recurrent expenditure on social housing, [PC table 18A.1]: $5,882.1 million.
Social housing investment expenditures, [table 18A.1]: $10,813.1 million.
Commonwealth Rental Assistance Expenses, [table GA.4]: $6,419.7 million.
Additional recurring expenses by state, [table 19A.1]: $1,754.9 million.

Guard Quoted from Australian Council of Social Service (ACOSS) spokesperson claimed: ‘More people are struggling to afford the private rental market, pushing them into homelessness and growing social housing waiting lists’.

While poverty is still terrible for many, it is not true that more people are becoming homeless. Numbers fell from a peak in 2023 in 2024 and again in 2025.

IA. wrote Guard to request correction. They agreed to change the title but did not correct any of the incorrect data.

Other tawdry attempts to misinform and devastate Australians include:

‘Australia’s cost of living is getting ‘crazy’ with almost half of low-income families worried about buying school shoes’ [The Guardian].
‘Nightmare at Martin Place as RBA outlines terrifying interest rates scenario’ [ABC News].
‘RBA failure leaves us at risk of 1990s-style recession, Chalmers says’ [Daily Telegraph].
‘Former RBA member bemoans massive public spending ‘dragging’ on economy after interest rates rise’ [Sky News].
‘A return of inflation could poison Labour’s second-term agenda and scare more voters’ [The Guardian].
‘Reserve Bank’s ‘failed experiment’ haunts Australia as interest rates rise again’ [News.com.au].

Think of what could be achieved if the nation were confident and optimistic rather than depressed and divided.

Australians face many challenges. These include dismantling racism, ending Indigenous disadvantage, climate change, persistent inequality, matching 55,000 homeless families with some of the 140,000 vacant homes, and media lies.

The majority of Australians supported Keating’s transformation of the nation. Let’s see if they will support Albo now.