9News | Big four making bank off Aussie dream of home ownership by 9News

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New research by the Australia Institute reveals that Australia’s four major banks – CBA, NAB, Westpac and ANZ – earn an average of $228,900 in profit over the 30‑year life of a typical $736,000 home loan, with owner‑occupier mortgages accounting for just 22.7 % of their loan book but delivering 39.3 % of profits, amounting to $16.9 billion of the banks’ $43 billion pre‑tax earnings last year. The Institute’s co‑CEO Richard Denniss called these figures “obscene” as borrowers face a third consecutive interest‑rate rise, now at 4.35 %, which he warned could push the economy toward recession and force the Reserve Bank of Australia to reverse policy dramatically.

Read more: https://www.9news.com.au/national/big-four-banks-how-much-they-make-off-home-loans/dbbbe7b8-4935-4908-b346-524fa3efca6b

#RichardDenniss #AustraliaInstitute #ReserveBank #MattGrudnoff

Phillip Lowe in a Frock

https://urbanwronski.com/2026/05/07/phillip-lowe-in-a-frock/

The latest #AustraliaInstitute podcast with Allan Behm and host Dr. Emma Shortis contains an interesting observation about one of the factors behind #USia being so thoroughly outwitted by #Iran; namely, that #American "diplomats" / negotiators just aren't that bright, skilled, or educated, when compared to their Iranian counterparts.

#USPol folks might find it interesting as an external perspective.

https://australiainstitute.org.au/post/supreme-court-guts-voting-rights-as-iran-war-support-hits-new-low/

English – The Conversation | Foreign companies are making billions off Australia’s gas. It’s time that changed by Samantha Hepburn, Professor of Law, Deakin University

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Australia’s gas boom has generated roughly A$149 billion in export profits for multinational companies over the past four years, yet only a small fraction of that income is taxed under the current Petroleum Resource Rent Tax and company‑tax system, which is riddled with deductions and “uplifts” that let firms pay little or nothing. Policymakers, think‑tanks and environmental groups are therefore pushing for a 25 % flat tax on the value of gas exports—a levy that could raise about A$17 billion annually, fund free childcare or tertiary education, reduce government debt and encourage producers to sell more gas domestically, potentially lowering local fuel prices. While supporters cite the success of higher‑tax regimes in Norway, Qatar and Japan, critics warn that the tax could deter new investment, threaten jobs, and make Australia less competitive against lower‑cost exporters. Nonetheless, the proposal reflects growing public demand for a fairer share of Australia’s state‑owned gas resources.

Read more: https://theconversation.com/foreign-companies-are-making-billions-off-australias-gas-its-time-that-changed-281010

#Australia #AustraliaInstitute #Norway

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#AustraliaInstitute #PuntersPolitics #TaxGas
🗞️📰🌏
Konrad Benjamin, a former school teacher who is behind the social media account Punters Politics, tells a Senate inquiry into taxing gas that the issue has fired up his near million followers.

Meanwhile the executive director of the Australia Institute, Richard Denniss, says 'the Japanese government is getting more revenue from taxing Australian gas than the Australian government is'. The Greens-led inquiry will hear from gas companies, environmentalists, economists and government departments

'We've been sold out': Punters Politics fronts inquiry into gas export tax - YouTube
https://m.youtube.com/watch?v=hnRK_uk1vPI

We've given away $63.8 billion in gas export windfalls since 2022 while families struggle with childcare & uni fees.
A simple 25% LNG export tax could've funded free university/TAFE OR free childcare for years.

#GasTaxNow #FreeChildcare #FreeUni #AustraliaInstitute

https://australiainstitute.org.au/post/free-childcare-free-university-the-simple-sensible-policy-which-would-have-raised-63-8-billion-in-under-four-years/

“Guardian Australia has spoken with several other Labor MPs who believe there is support within caucus for the change.

One Labor MP, who spoke on the condition of anonymity, said, “I’m getting a lot of heat and I think David Pocock’s run a pretty good campaign on this.”

A ‘campaign’??? Yes, as far as politicians are concerned, it boils down to #electionability and nothing else. Never mind that what #SenDavidPocock has done (along with the #AustraliaInstitute) is to shed light on the #GasExport #Rort and that everyday Australians are paying for the outragous #Profits #Corporate gas companies are making (not to speak of the #Japanese #onselling of Australian gas - the Australian cow that keeps giving away free milk).

“They [unnamed Labor politicians] said reform on gas export taxes in the budget was important, but said Labor would have to go harder on gas companies than the current PRRT, or there would “not be much point”.

As well they should. ‘Bout time Labor did something that requires #gumption IMO. Go fast, go hard. Ignore #FossilFuelINdustries bleeting noises, it’s all #lies and #disinformation in any case.

#AusPol
REad more:
https://www.theguardian.com/business/2026/mar/28/its-fired-people-up-support-grows-including-within-labor-for-new-gas-tax-to-curb-wartime-profits