Labor shifts more income from the wealthiest to the poorest

The national accounts of the March quarter confirmed that the Albanian government has achieved its economic goals, as Austin reported.

There were good news and bad news last Wednesday. report From the Statistical Bureau to the economy (Pessimistic). Positive news, desperately tried to claim the opposite, despite the negative imprisonment.

Growth of Gross Domestic Product for the Quarter was 0.21%, which was below the expectations and was slightly below the average of the last five quarters of the last five quarters of the difficult adjustment by the coalition after years of disaster.

Annual GDP growth is 1.34%, below the target, but the most powerful one since the December quarter in 2023.

Most of the growth of Australia was achieved in the private sector instead of government expenditures by fulfilling one of the treasurers. Jim ChalmersTargets.

The total income of the Australians reached a record of $ 424.9 billion, called gross disposable income. This indicates the expansion of 6.9% in March last year and 13.2% higher than March 2023.

The real net -use income for every Australian resident is increased to $ 18,423 in this quarter and confirmed that living standards for the majority were restored.

It was confirmed that these results were very positive when there were Asx indices. rising to the highest levels of all time.

Australia leads the world

Australia recorded 14 quarters positively in a row. Three -month growth and 17 flat quarters Annual growth -38 only economy in members OECD To obtain this status.

The gloomy March quarter results in comparable countries underline global challenges, and the war in Europe and the international trade became destroyed by Trump White House’s destructive stupidity.

The countries with negative GDP growth were Sweden, Denmark, Norway, Japan, South Korea, Portugal, Luxembourg, Estonia, Latvia, Slovenia and the United States.

The ten OECD member is now in the annual negative GDP growth, including South Korea and Slovenia, which has been returning for more than four years.

After a bad delay during the coalition years, Australia is among the leaders in almost all indicators of solid economic government.

The share of the national income cake to the workers

As mentioned above, the net national disposable income per person has increased slightly, but it is below the levels recorded during and after Covid connections from 2020 to 2022.

This does not mean that all revenues are now lower than this measure is higher. As described here in April, the best decimas received haircuts, the majority of workers, retirees and retirees are now much richer.

This is clear from the data on the share of national income to the workers, and this is opposed to the profit of the company. This is found in Table 7 National accountsABS file 5206. See the table below.

DAYS FAILED Morrison The government was allocated to workers less than 50% of the total income of the country. This was over 60% in previous periods. This percentage has increased steadily since the 2022 government change and reached 53.71% for nine years in March quarter.

On the contrary, the share of the company’s profits has increased within the previous coalition and is now returning to more fair levels.

The importance of this graph is how the majority of Australians are currently enjoying a remarkable consumer expenditure burst, but the per capita income increases, but the graphical explanation of remaining stable.

Productivity has been re -evaluated

All critics Albanian The government has routinely lamenting its productivity, which has been standing between 98 to 101 index points since 2016, except for a short move during Covid deductions.

Treasurer Chalmers accepted this for the first time report After Labour’s extraordinary election victory last month:

“… The first period was inflation without forgetting productivity, the second term will be productivity without forgetting inflation.”

Complexity of productivity debate is the fact that Australia greatly expanded the maintenance of care for disabled and diseases at home in both family members and external facilities. Most of them are an extremely valuable task that greatly improves life and expands life expectancy. However, when no money changes hands, it is not measured by national accounts.

Statistics Office announced As of September, it will publish labor efficiency forecasts for the total non -market sector.

ABS said:

‘For various conceptual and practical reasons, this is a difficult part of the economy.’

Actually. Soon we will see if this has shifted the discussion significantly.

The media continues to manipulate and mislead

Latest trial Australia Financial Review (AFR) Attacking the government unjustly was last Thursdays article by a senior writer titled, “ We were told that the Australian economy beat the world. Shows that there are no data ‘.

Claims:

‘Treasurer, low 4s, a large developed economy will not have unemployment, inflation below 2.5% and can not have continuous economic growth of three years, he said. Perhaps the international colleagues of counting were just polite. ‘

In fact, Chalmers is completely correct. . AFR He could not define any country that matched the results of Australia.

. AFR First of all, he focused on the real GDP per person, which was a proxy for living standards and falling 0.5 percent last year:

‘This was the fourth worst result in advanced economies with existing data.’

Two problems here. First, as explained above and elsewhere, although the general GDP has fallen slightly, the majority had higher living standards due to significant change in income to the poor and the poor.

Second, it is just one of these multi -key variables.

How better the Australians were informed, happier and safer AFR? And how productive?

https://www.youtube.com/watch?v=53i5mx7y1ba

Alan Austin is an independent Australian columnist and free journalist. You can follow him on Twitter @Alanaustin001.

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