Top Tweets for #SameShitParty

GET THE FACTS: Since the Albanese Government came to office, housing approvals growth has increased by over 33 percentage points, up from -22% under our predecessors. Whether it’s building more homes, delivering 5% deposits, or changing the tax system to make it easier for people to buy their first home, we’re coming at this housing challenge from every angle.

THE TERRIBLE TOUPEE IS BACK! Garbage in, garbage out … Once every few years Canberra looks ahead to judge what Australia may look like in 40 years Even when these Intergenerational Reports (IGRs) are flawed, they deliver great insights Yet the single most important building block is the assumption about productivity growth As Paul Krugman so beautifully put it, “Productivity isn’t everything, but in the long run it is almost everything” So that’s why you absolutely shouldn’t use garbage as your assumption for productivity growth That’s why it is so disturbing to hear this morning’s news that the government is assuming 1.2% a year as the gain in productivity as the foundational stone on which everything in Monday’s new Intergenerational Report is built Umm, that assumption is bollocks … Yes, the rise of AI has the potential to lift productivity gains both here and around the world But there has been a disastrous drift in Australia’s productivity growth (as seen in the chart) In the last twenty years (the assumption used in the last IGR) our productivity growth has averaged 0.49% In the last 10 years that average productivity gain has been 0.00% Yep. Nuthin … The difference between 0% a year and 1.2% a year becomes 61% over four decades Yes, the rise of AI has the potential to lift productivity gains here and around the world: · But that’s a possibility – not something we should be baking in now · If we do bake in something for AI gains, that ‘something’ should be believable · And, regardless, if we think AI is the answer to everything, then you’d wonder why the Australian government isn’t urgently pushing through an AI skills program for the entire Australian workforce Instead, the rise of AI is being used as a terrible toupee to try to hide the ever-larger bald spots evident in the Australian economy and the Australian budget And that, ladies and gentlemen, is an embarrassment