Ray Goodlass

Rays peace activism

Month: February, 2019

My Daily Advertiser Op Ed column for Tuesday 12 February 2019

No amount of tinkering around the edges will solve the banking problem

Today I will focus on the banking royal commission, but beforehand there is a good news item that deserves attention.

It came to my notice through a headline in the Sydney Star Observer, a newspaper for the NSW lesbian, gay, bisexual, transgender and intersex (LGBTI) community which read ‘Daniel Andrews announces Victorian ban on LGBTI conversion therapy’, followed by the quotation from the Victorian Premier “We’re banning these practices forever and for good.” This very positive move to end the iniquitous practice of gay conversion therapy is most welcome.

Announcing the ban at Melbourne’s Pride March, the Premier went one step further by saying that the state government would criminalise LGBTI conversion practices.

This Australian-first ban follows an investigation into conversion practices by the Health Complaints Commissioner (HCC), which found that those subjected to it experienced long-term psychological harm and distress.

A survey of LGBTI Australians conducted late last year found that banning conversion therapy was a top political priority for members of the community.

Co-leader of the Brave Network, Nathan Despott, welcomed the announcement and delivery of the HCC report.

“We are so pleased that the Victorian Government has chosen to adopt a broad response to this insidious movement that has operated undercover in Victoria’s religious communities for decades,” he said.

“The Victorian Government and Health Complaints Commissioner have listened to survivors and taken time to learn about the complexity involved with the ideology and operations of this harmful movement.”

Chief Executive of Equality Australia, Anna Brown, said the conversion movement’s activities have proven to be very harmful, as well as ineffective.

“Telling someone they are broken or sick because of who they are is profoundly psychologically damaging.

“Once again the state government is leading the nation in advancing LGBTI equality, and keeping our communities safe”, she said.

Federally, a motion put forward by Greens Senator Janet Rice urging the government to advocate to states on banning conversion therapy practices in Australia passed the Senate last September. Let’s hope NSW and the other states and territories follow suit very quickly.

Now to the banks. “The Hayne Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry report should be a mark of shame for the sector”, wrote Greg Jericho in the Guardian Australia. He’s right.

He’s also partly right when he notes that “The very root of the problem is the profit motive of an industry often charging an egregious amount of money for doing nothing”.

That argument however needs to go a step further by pointing out that the problem is also caused by the political and economic fashion for unregulated capitalism known as neo-liberalism, which has dominated since the Thatcher/Reagan era of the 1980s.

Though its flaws are starting to become more and more apparent we still hear the neo-conservatives of the Liberal and Nationals parties disingenuously calling out for cuts to red tape, which of course is code for getting rid of the regulations that protect the workers and consumers.

The final report of the commission indeed shows quite clearly that the profit motive was at the very root of the problem. Of course, they are all privatised, so driven by nothing but profit.

Hayne charged that “in almost every case, the conduct in issue was driven not only by the relevant entity’s pursuit of profit but also by individuals’ pursuit of gain.”

Unfortunately, the report’s recommendations have not gone far enough. The banking and finance systems need more than a tweak. They need a major shake-up, as Australian Greens Senator Richard Di Natale and Adam Bandt, MP for Melbourne, said last week.

They went on to announce a plan that goes much further than tinkering around the edges of a system that will still be prey to the profit motive.

Under this plan, the Greens will establish a people’s bank that offers basic products at a competitive rate, putting people before profit; break up the banks, by separating retail banking, investment banking and wealth management arms; cap the obscene pay packages that banking executives receive; and replace the weak and compromised ASIC with the ACCC to fight for the rights of banking customers. Now that’s talking.

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My Daily Advertiser Op Ed column for Tuesday 5 February 2019

A million new jobs isn’t what it’s cracked up to be

“Over the last five years we’ve delivered more than a million jobs,” Scott Morrison crowed when announcing the Federal Government’s claim to have hit that promised milestone last year, ABC news reported.

Last week he also made a new pledge for the Government, “to see 1.25 million jobs created over the next five years”. A sure sign the federal election campaign is underway.

On the face of it, that might sound like an impressive number, but a million or so jobs isn’t at all impressive, especially as our population grows.

The PM’s headline grabbing boast carefully and very disingenuously didn’t say what sort of jobs they would be, that is, whether they would be full-time, part-time, permanent or casual.

I was also reminded that the boast of the million jobs created since Tony Abbott promised them five years ago isn’t all that its cracked up to be by a Facebook post from Greens NSW MP David Shoebridge, who responded by pointing out that the Liberals’ boast about employment growth is largely due to sheer population growth.

Mr Shoebridge also pointed out that in December of last year full-time employment decreased by 3,000, part-time employment increased 24,600, teenage employment decreased 8,600 and, very disturbingly, teenage unemployment increased to 24.7%.

With those disturbing statistics in mind, let’s tease out the real facts behind Mr Morrison’s early federal election campaign boast.

To begin with, economists say Australia needs to add about a million new jobs every five years just to keep pace with rising population growth and stop the unemployment rate from climbing.

“The numbers might sound impressive as a headline rate, but really it has to be put in context of the change in the size of the population,” Commonwealth Bank senior economist Gareth Aird said. In fact, we’ve added 1.7 million people to the population over the past five years.

A million jobs is just about enough to keep the unemployment rate flat, but not enough to bring it down, so it’s cold comfort to the unemployed or those just about to enter the workforce, such as school leavers and TAFE and university graduates.

The Centre for Future Work points out that creating more than a million jobs in five years is far from unusual, their new report shows.

In fact, and exploding the PM’s boast, the one million jobs added to the economy between 2013 and 2018 marked the 10th time in Australia’s history that 1 million-plus net new jobs were created over five years. And of course, nine of those ten years were with a smaller population

Indeed, those historic achievements were a lot better because our population was in fact a lot smaller. One million as a share of Australia’s smaller population was far more significant than recent job creations.

When Australia reached that milestone for the first time 30 years ago, the labour force was little more than half its current level.

“30 years ago it represented an 18 per cent increase in employment, which was pretty good,” said economist Jim Stanford, director of the Centre for Future Work, which is part of the progressive think tank The Australia Institute.

“By comparison, the rate of jobs growth over the past five years is pretty mediocre, barely more than half as good as it was back then.”

“This was the slowest job creation in any of those periods that did not experience a recession or major financial crisis,” said Dr Stanford.

We also need better quality jobs that provide the full time employment people need, for part-time jobs are a rising share of total employment. Almost half of the new jobs created between 2013 and 2018 were part-time, and the share of part-time work in total employment grew notably.

These jobs also need to be permanent, as casualisation is a major problem with today’s job market.

They also need to be decently paid, for wages growth has flatlined at record lows.

So, unless the jobs are well paid permanent full time ones the PM’s boast is nothing more than an empty attempt to fool all of the people all of the time as he kicks off his federal election campaign.