Estimates: Canavan v Bullock
Matt Canavan is getting annoyed with the RBA.
He starts by asking about real wages and says that their data suggests that real wages are not going to rise much. Bullock says not to care too much about the wages prices data because that doesn’t include everything that is being paid. Which tbh I agree with Canavan on this – as I have shown repeatedly:
Canavan asks how the RBA can say people are doing ok, when there has been such a big drop in real wages.
Bullock wants instead to talk about real household disposable income, which actually has increased – because these take into account tax cuts and interest rates cuts/rises, and govt benefits:
Canavan then says “I think people are only going to get angrier in this country if they are being gaslit into thinking the economy is ok, when their lived experience is absolutely terrible right now”
Bullock breaks in very feistily to say “Senator I take exception to that comment” (Canavan retorts “As I have taken exception to saying things are ok”)
Bullock continues
I have said that there are certain aspects of the economy which are doing well and one of them is the labour market, which is a positive for people. Now I understand that some people are doing it tough. I do understand. I get letters and I read them. But that is not to say that you can’t recognise that there are some parts of the economy that are doing well. And the labour market I think has been a really positive thing for this country”
Canavan responds that he is talking about the comment that “the economy is ok”. And he, to be honest, makes a good point that the economy is about (in his view) the basic ability of people to provide for themselves.
Bullock responds that “you’re thinking ‘OK means it’s great’, when ‘ok’ means it’s ‘ok’”
Canavan then asks “if the labour market is so good, then why aren’t wages growing?”
Bullock says you’re looking at the wage price index, whereas the RBA are looking at a measure of what people are actually being paid (ie including overtime and promotions etc). And sure, she has a point, but cripes, the wage price index is not a small bit of data. It is essentially the CPI for wages. The RBA dismisses it far too readily in my opinion.















Comments (15)
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Michael Cowan
Thu, 12.02.26
10.55 AEDT
Estimates: Jane Hume tries to push Bullock on inflation cause Michele Bullock is asked by Jane Hume who is likely on the phone at the same time about becoming Deputy Leader of the Liberal Party,... The Point Live
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Andrew Faith
Thu, 12.02.26
10.05 AEDT
Angus Taylor announces official leadership tilt Angus Taylor has used his social media to say he will be running for the leadership: Our country is in trouble. The Labor government has failed... The Point Live
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Richard Llewellyn
Thu, 12.02.26
09.54 AEDT
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Sam
Thu, 12.02.26
09.51 AEDT

Naomi Wolf accuses Australian MP of lying over Christmas tree story Naomi Wolf and Australian minister Angus Taylor feud over accounts of their time at Oxford University. www.bbc.com
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MrsG
Thu, 12.02.26
09.34 AEDT
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Sam
Thu, 12.02.26
09.19 AEDT
Closing the gap action anounced Anthony Albanese will deliver the Closing the Gap update at midday, but here is the official government statement of measures being put in place: In... The Point Live
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Lewis
Thu, 12.02.26
09.05 AEDT
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sam
Thu, 12.02.26
08.59 AEDT
More Liberal front benchers resign LNP MP Phil Thompson has made the trek to Sussan Ley's office to resign (no surprise, he has been holed up with Angus Taylor for... The Point Live
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Sandra
Thu, 12.02.26
08.39 AEDT
T.A.C.O This is just a bit of gossip, but the Fin have also reported it, so I am going to indulge - but yesterday, when everyone... The Point Live
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Sam
Thu, 12.02.26
08.08 AEDT
In the least surprising news today, Sarah Henderson is backing Angus Taylor In news that will shock absolutely no one, Sarah Henderson is backing Angus Taylor. She wants Jane Hume to run for deputy. Tasmanian conservative Claire... The Point Live
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Richard Llewellyn
Thu, 12.02.26
07.52 AEDT
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Andrew Faith
Thu, 12.02.26
07.11 AEDT
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Amy Remeikis
Thu, 12.02.26
07.35 AEDT
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Sam
Thu, 12.02.26
06.52 AEDT
Israeli president, who has been credibly accused of inciting the commission of genocide, to face more protests in Melbourne AAP The Israeli president is expected to face another day of protests as his controversial Australian visit nears an end. Isaac Herzog will be closely... The Point Live
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Fiona
Thu, 12.02.26
07.48 AEDT
Join the conversation
Then Bullock has to deal with Senator Canavan who is arguing a high school economic level assessment at a post-graduate tertiary discussion.
I doubt Bullock would see this time as a positive contribution to be her own level of professional productivity.
How long do you think Good One, Angus, had that video for, considering he's currently in Canberra and it was probably shot at his home property?
What a wonderful picture of Good One Angus receiving an unexpected pineapple, rough-end first. You may be able to misLey a leader, Angus, but you really do need to watch your back.
I hope Angus Taylor isn't planning on unleashing culture wars and making up Christmas cancellations. If he has nothing else to talk about, he will go there. https://www.bbc.com/news/world-australia-50667373
I think the old saying ‘you cant make a silk purse out of a sows ear” fits the current Liberal Party situation perfectly. And if Sussan Ley gets rolled which looks likely then she should quit parliament immediately not linger on the backbench.
What a contrast, Labor laying out actions (whether or not they're good , they're actually doing something) and the Liberals talking about themselves and how they've listened to Australians...as far as I can tell, the Nationals are still writing the Liberals policies - abandoning action on climate change and ramping up racism https://live.thepoint.com.au/2026/02/the-point-live-its-on-for-the-liberals-protests-planned-for-melbourne-in-response-to-isaac-herzogs-planned-visit/?post=be2676698d
Re Farrer - I will note that as someone across the border who was keeping an eye on it - Milthorpe had a very red hot go at it but underperformed on the primary. 20% is good of course, the PHON preferences were 52/48 to Ley so a lot of things will have to go bad for the Libs to lose that.
are you giving phillip thompson too much credit, saying he is a frontbencher, when he is a shadow assistant minister
https://live.thepoint.com.au/2026/02/the-point-live-its-on-for-the-liberals-protests-planned-for-melbourne-in-response-to-isaac-herzogs-planned-visit/?post=d648cb0252
We, the people of Australia, will pay to bring politicians back to Canberra for a party room meeting and leadership (?) spill. Party room business like this should be at the expense of the party. Maybe if there was a direct cost to them some of this ego driven bs would not happen.
... but what do the Liberals think a credible opposition is?
https://live.thepoint.com.au/?post=07ec773238
'a more likable Tim Wilson'???
Amy, the coffee just isn't working. There are far more believable things in Australian myth and fable, like drop-bears and bunyips.
Good morning, Amy!
You and I both know that Good One, Angus's digits were working his Princess Telephone last night, trying to finalise the numbers to roll the first female Liberal Party leader. Good one, Angus!
I think it was more 'will you be in town?' given not all the senators are in Canberra
One thing that is often omitted re Adass Synagogue is that it is non-Zionist. The conflation of Zionism with Judaism has really obscured the diversity of Judaism (yes like all religions, there are different strands of Judaism) and diversity of political opinions in Jewish communities.
I'd forgotten that point about Addass!