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Stephen Mayne

đŸ‘€ Speaker
1640 total appearances
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Appearances Over Time

Podcast Appearances

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

Alison's clearly, and the gender argument is true, if all these nurses were members of the CFMEU wearing hard hats, they'd all be earning double, triple than what the nurses are getting.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

I do remember John Howard standing up in Question Time saying that he believed that nurses in Australia were underpaid and that New South Wales Health was the largest sponsor of working visas in the country.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

So it's the biggest health system and the health system needs international workers with skills and the New South Wales government has long been bringing in thousands of skilled health workers.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

But yeah, I guess it all comes down to the proportionality of it.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

16% over three years was the decision, Alison, and Alison's obviously thinking it should have been more.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

But I guess there is the wage spiral argument, isn't it?

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

If you keep on giving...

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

big pay rises to tens of thousands of people that are above inflation, that's just going to feed inflation and lead to higher prices and on the spiral goes.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

Isn't that the argument?

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

Now Mark says, I'm in my mid-40s and my parents are in their 70s.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

As we all know, house prices used to be many less multiples of someone's yearly wage.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

So you would expect that everyone from my generation and a bit older would have grown up with parents flush with disposable income.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

With housing a mere afterthought, cash would have been flying around.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

We would have all been living in luxury.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

However, this is not the case with anyone I know.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

Just normal lives and nothing flash.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

I think people are disregarding the fact that the cost to furnish a house, buy a car, get a lawnmower, buy a TV has all come down dramatically from our parents' generation.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

They probably had to pay double the house price to fill it.

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

And then using the RBA inflation calculator...

The Money Café with Alan Kohler
Barrels, Boards, and Big Questions

Mark has calculated that a TV in 1975 cost $700 and that in today's terms would be $6,250.