Mimicking populists will not ease cost of living or boost productivity, Mathias Cormann warns
News Source
β’Sat, 17 Oct 2026 01:49:17 GMT
π° What Happened
Mathias Cormann has warned Australian politicians not to copy populist policies to win votes over the cost of living. Cormann is a former finance minister and now heads the OECD, a group of rich countries.
He spoke at the Centre for Independent Studies on Saturday night. His answer is productivity: getting more done with the same effort. He said that is the only reliable way to build more housing, lift real wages and cut energy costs.
π The Backstory
Populist parties promise simple fixes for complex problems. In Australia, One Nation has gained support with a largely anti-immigration platform. Its primary vote reached 25% in the latest Guardian Essential poll, well up since the 2025 federal election.
Migration caps are one idea that sounds easy. Cormann pointed to research showing migrants add jobs and growth, not just demand. Australia's major parties are under pressure to answer voters who feel worse off.
π― Why It Matters
Voters are angry about prices. The debate matters because migration caps and other quick fixes could shape wages, rents and the economy for years.
Mathias Cormann has warned Australian politicians not to copy populist policies to win votes over the cost of living. Cormann is a former finance minister and now heads the OECD, a group of rich countries.
He spoke at the Centre for Independent Studies on Saturday night. His answer is productivity: getting more done with the same effort. He said that is the only reliable way to build more housing, lift real wages and cut energy costs.
Populist parties promise simple fixes for complex problems. In Australia, One Nation has gained support with a largely anti-immigration platform. Its primary vote reached 25% in the latest Guardian Essential poll, well up since the 2025 federal election.
Migration caps are one idea that sounds easy. Cormann pointed to research showing migrants add jobs and growth, not just demand. Australia's major parties are under pressure to answer voters who feel worse off.
Voters are angry about prices. The debate matters because migration caps and other quick fixes could shape wages, rents and the economy for years.