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Productivity growth the key to wage rises - Transcript, 2GB Money News

E&OE TRANSCRIPT
RADIO INTERVIEW
2GB MONEY NEWS
WEDNESDAY, 14 AUGUST 2019

Subjects: Interest rates, penalty rates, unfair dismissal protections, the need to boost productivity, the per capita recession, the Coalition’s lack of energy policy vision.

ROSS GREENWOOD: I think we might get on Andrew Leigh, the Assistant Shadow Minister for Treasury and Charities. He’s on the line right now. Andrew, many thanks for your time.

ANDREW LEIGH, SHADOW ASSISTANT MINISTER FOR TREASURY: Always a pleasure, Ross.

GREENWOOD: All right. The big issue here right now is and it comes - it doesn't matter which side of politics you're on, this is you know trans political, I think - the nation has got to find a way in which we can actually get some wages growth, get some economic growth. We're not bad. I mean, let's be honest. In global terms, we’re actually in pretty good shape. But the fact is there's a spark missing right now to try and get the country going again. You tell me what that spark is.

LEIGH: It's about a federal government that's willing to step up and take actions that will boost wages and boost the economy-

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Mood shifting on gun control - Transcript, 2CC Canberra

E&OE TRANSCRIPT
RADIO INTERVIEW
2CC CANBERRA
TUESDAY, 6 AUGUST 2019

SUBJECTS: Gun control and mass shootings in the United States.

HOST: The co-founders of the Parliamentary Friends of Gun Control - Dr Andrew Leigh, the Member for Fenner, and John Alexander, the Member for Bennelong - are urging lawmakers in the United States to take urgent action to prevent further senseless death. Dr Andrew Leigh joins me on the line now. Dr Leigh, the most recent appalling massacres in the United States. When will the Americans do something about this?

ANDREW LEIGH, SHADOW ASSISTANT MINISTER FOR TREASURY AND CHARITIES: Well, I hope sooner rather than later, Tim. I see the mood is shifting in the United States, but at a glacial pace. In Australia it was extraordinary how the Port Arthur massacre galvanized action among politicians from all sides of the political spectrum. We saw within a fortnight of that massacre, police ministers meeting, standardising laws in order to make sure that we toughened up licensing and registration, got the buyback into place. We still have a sporting shooting culture in Australia, as we should. I can take a run in the morning and it will take me past the pistol club and the rifle range, but we don't have the guns tucked into the back of the teenager’s jeans when they go out on Saturday night.

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Australians are poorer under the Liberals- Transcript, 2GB Money News

E&OE TRANSCRIPT
RADIO INTERVIEW
2GB MONEY NEWS
THURSDAY, 1 AUGUST 2019

Subjects: HILDA, the Liberals’ record of stagnant wages and struggling productivity, the wage gap, Made in Australia.

ROSS GREENWOOD: One person I love to talk to about these types of things is Dr Andrew Leigh, the Shadow Assistant Minister for Treasury and also very prominent inside the economic thinking of the Labor Party as well. He’s on the line. Andrew, many thanks for your time.

ANDREW LEIGH, SHADOW ASSISTANT MINISTER FOR TREASURY: Always a pleasure, Ross.

GREENWOOD: So off the back of some of these reports, you've done two things this week. You've written an op ed and basically looked at Australia's productivity crisis. We’ll come to that shortly, but you also gave a speech in the House of Representatives which was yesterday and that was in regards to the HILDA report, and what you see as being a widening gap between the haves and the have nots in Australia. Is it really as significant a crisis as you paint it as?

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More mistruths from the Liberals on multinational tax avoidance - Speech, House of Representatives

HOUSE OF REPRESENTATIVES, 31 JULY 2019

The problem of multinational profit-shifting is a massive one. Globally, around $600 billion of profits are estimated to be shifted to tax havens. That's almost 40 per cent of multinational profits.

We see in Australia significant multinational profit-shifting affecting our tax base. You can see this in a variety of different statistics. One curious figure is a new dataset released by the Australian Bureau of Statistics last year which shows the operating profits and taxable profits of multinational firms operating in Australia and in different jurisdictions. You can ask the question: what's the gap between operating profits and taxable profits for firms from different countries? If you're a typical Australian firm, the gap between operating profits and taxable profits is about 30 per cent. That's true, too, for firms in the United States, at 28 per cent, in the United Kingdom, at 27 per cent, and in Japan, at 29 per cent.

But then you get to the curious ones. Bermuda owned multinationals operating in Australia have a gap between operating profits and taxable profits of 88 per cent. Those located in the British Virgin Islands have a gap of 92 per cent. In other words, if you start with $10 of operating profit, Australian firms will report $7 of taxable profit and the same with American firms, British firms and Japanese firms. In those cases, $10 of operating profits means $7 of taxable profits. But if you're a firm located in Bermuda or the British Virgin Islands then $10 of operating profits produces just $1 of taxable profits. That could have something to do with the fact that Bermuda and the British Virgin Islands effectively have a zero corporate income tax rate, no personal income tax rate and no capital gains tax rate.

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It's not too late for the Liberals to do the right thing - Speech, House of Representatives

HOUSE OF REPRESENTATIVES, 31 JULY 2019

Yesterday a report came out from the Melbourne Institute: the annual HILDA Statistical Report. It ought to be a wake-up call for the Morrison government, which has been asleep at the wheel when it comes to tackling Australia's serious economic challenges. It showed that when the Liberals came to office under Tony Abbott in 2013, median household annual disposable income in Australia was $80,573. In the most recent year available in the report, 2017, median household income was $80,095. In other words, in the time that the Liberals have been in office, the median household has gotten poorer.

So when Australians ask themselves: 'am I better off or worse off under this government?' The answer is, after inflation, they're worse off.

We've seen significant falls in median household incomes, adjusting for household size, in Adelaide, in Perth, in regional Western Australia, in regional New South Wales and right here in the ACT. In the ACT, the drop in median equivalised household disposable incomes has been the largest of any region in Australia—11 per cent—a direct consequence of the decimation of the public service and the cuts in real wages for many Canberra public servants.

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Life under Coalition harder for many - Speech, House of Representatives

HOUSE OF REPRESENTATIVES, 31 JULY 2019

Thirty-year-old Cameron Van-Lane and his three housemates in Dickson have taken to putting bubble wrap on their windows in order to keep the house warm. As Mr Van-Lane told the RiotACT:

… it is an expensive heating system to run and as soon as you turn it off, the house quickly loses its heat and gets cold again.

According to a report called Baby it's cold inside: energy efficient ratings in the ACT, over two out of five rental properties have an energy efficiency rating of zero. As Joel Dignam, the executive director of Better Renting, said, seeing how poorly insulated some Canberra homes are is ‘confronting’.

The challenges of living in a city like Canberra come particularly in the middle of winter.

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Australia lagging on access to data - Speech, House of Representatives

HOUSE OF REPRESENTATIVES, 30 JULY 2019

A zettabyte is a billion terabytes. A decade ago, global annual data generation was less than one zettabyte. When the coalition came to office in 2013, it was a few zettabytes. Now it is around 25 zettabytes and projected next year to go to 40 zettabytes. We currently produce the same amount of digital data every two days as we did in a year in 2002. The rise of the Internet of Things and wearables technologies and falling storage costs have meant that data is ubiquitous and has the potential to greatly improve the quality of social services and business productivity.

In areas such as health data, energy and social services, it is possible to get significant advantages to the benefit of all Australians, and yet Australia currently lags behind other countries when it comes to access to data. As a report from the Australian Data Archive in 2016 noted:

Australia is well behind the UK, US and most of Europe on open data. This is impacting Australia's ability to be competitive [in research] and its standing [in the Humanities, Arts and Social Sciences] discipline.

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Vale, Alan Krueger and Mark Kleiman - Speech, House of Representatives

HOUSE OF REPRESENTATIVES, 29 JULY 2019

Earlier this year, Alan Krueger died. He was one of the leading labour economists of his generation, having done path-breaking research on minimum wages and employment, education, terrorism, health care, the opioid epidemic and the gig economy.

He pioneered the Great Gatsby curve and wrote Rockonomics, published posthumously.

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The Government is a mate-ocracy - Speech, House of Representatives

HOUSE OF REPRESENTATIVES, 29 JULY 2019

Australians are rightly concerned about multinational tax avoidance. They want a crackdown on tax havens and profit shifting. But what do they get instead?

They get Senator Cormann, who received free flights from Helloworld, a company headed by Andrew Burnes, the former Liberal Party federal treasurer, and a company that received a contract to provide travel management services to the Commonwealth in 2015.

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Mediocre productivity performance from mediocre Morrison Government - Transcript, Doorstop

E&EO TRANSCRIPT
DOORSTOP
PARLIAMENT HOUSE
MONDAY, 29 JULY 2019

Subjects: The Morrison Government’s mediocre record on productivity, tax havens, Angus Taylor, the need to raise Newstart.

ANDREW LEIGH, SHADOW ASSISTANT MINISTER FOR TREASURY AND CHARITIES: Good morning. We've seen reports today that Australia's productivity performance is in the doldrums. After decades in which we had productivity growth averaging around 2 per cent, over the last couple of years we've seen it in just 0.2 per cent – a tenth of its previous level. The Productivity Commission has described productivity as being ‘troubling’ and ‘mediocre’.

We’ve got mediocre productivity performance from the mediocre Morrison Government.

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Cnr Gungahlin Pl and Efkarpidis Street, Gungahlin ACT 2912 | 02 6247 4396 | Andrew.Leigh.MP@aph.gov.au | Authorised by A. Leigh MP, Australian Labor Party (ACT Branch), Canberra.