Event Summary by Alex Hatzikalimnios
On 7 July 2025, Australians for Science and Freedom, together with Australian Dialogues, hosted a unique, Sydney-first, event that fostered collaborative discussion on Australia’s current ‘Cost of Living Crisis’. The event was held at the Sydney Masonic Centre and included a panel discussion of three prominent speakers on economic issues, MC’ed by Professor Gigi Foster and moderated by Dr Cameron Murray. The panellists included Jennifer Westacott AO (Chancellor, University of Western Sydney), Alison Preston (Professor of Economics, University of Western Australia) and Adam Creighton (Chief Economist and Senior Fellow, Institute of Public Affairs). The sold-out event was well received with the three discussants providing complex and nuanced analysis of the structural issues surrounding cost of living in Australia while providing feasible solutions to assist Australian society and policy makers.
Here is the full recording of the event, audio with digital overlays, and the brilliant photo set from the event here.
Unlike most events that feature speakers and/or panellists, the “Big Dialogue” format has been developed over the last five years by The Brisbane Dialogues, consistently demonstrating that civil conversation between people who disagree on difficult topics is not only still possible, in public, but can also be enlightening and enjoyable! This is the first one to be held in Sydney. Consistent with the unique format of the event, Big Dialogues are designed to demonstrate that contentious national issues can still be discussed frankly, fearlessly and civilly, in a non-partisan way, in public, by people of goodwill, in good faith, in pursuit of truth, progress – and better policy and outcomes.
After Gigi Foster introduced the event and guests, Cameron Murray addressed the very topical issues surrounding the cost of living crisis in Australia. To begin the dialogue, Cameron began with an elevator pitch-like scenario where he asked each panel member to explain what the cost of living crisis was to a random person they met on the bus. In response, each panellist agreed that the crisis existed and provided varying perspectives on how it impacts everyday Australian’s – noting that the crisis may be perceived differently depending on who you speak to on the ‘bus’. A stark comparison was made between the impact of the crisis on the ranging population in Australia. The panellists noted that, depending on who you ask, you would get a different response on how the crisis impacted them – as Alison Preston noted that older Australians would not be feeling the pinch like the younger generations.
As the discussion progressed, the first main theme surrounded the Covid-19 pandemic and its continuing impact on the cost of living crisis. Discussions surrounding the pandemic unanimously held that the fiscal and monetary response was lacklustre, to put it nicely. Jennifer Westacott described pandemic fiscal response policy as “colossal” and that “you could have colonised Mars”, noting that we, sadly, have nothing to show for this spending. Adam Creighton noted that a staggering real wage growth since 2012 and the increase in inflation since pandemic policy response have been key contributors to the pinch that Australians are feeling at the moment. Alison Preston noted that the cost of living crisis could be alternatively framed as the ‘standard of living crisis’, as she contemplated the combination of the housing crisis, large increases in CPI and the decreasing wages.
The panel then moved to discussing the housing crisis. In discussing home ownership and housing affordability in the context of standard of living, where older Australians have purchased homes that have increased by 40-50% in the past couple of decades, many younger Australians are being left behind due to the mismanagement of fiscal policy. The panellists agreed that the housing sector in Australia has lacked a housing association or sector that could attempt to tackle the housing crisis. Throughout the discussion, Cameron Murray questioned the audience and asked, “if you would like your house to go down in value by 30%, please raise your hand”. Unsurprisingly, the audience and panellists remained divided on this issue as a disproportionate amount of wealth within Australia is bolstered by the housing market. Panel members also discussed the impacts of stamp duty as a policy, concluding that it is a failed fiscal policy and law that limits mobility and housing affordability for Australians.
An extension of the discussion on housing and housing policy; national migration became a centre point of discussion. The panellists noted that net migration has increased rapidly since Covid, which is the opposite of what was promised. With the wide variety of representation on the panel, it was noted that the university sector has suffered quite significantly with regard to student numbers. The student visa concerns are often associated with the housing crisis, although some panel members disagreed with this sentiment. However, what was agreed upon in relation to the immigration numbers was the fact that net migration numbers have increased at a rate that is not conducive to sustaining affordable housing and living standards in Australia, as the current housing supply cannot keep up with the numbers of residents in Australia let alone all future migration.
Superannuation was also a topic of debate, as views on this policy varied amongst panel members. Members of the panel noted that their super, backed by the university sector negotiations, has left them in a very comfortable position and that they are, unsurprisingly, fans of superannuation as a policy. Alternatively, Adam Creighton noted that 80% of people’s capital still remained in their super after they passed away, highlighting that the money could have been used at a better time of a person’s life. For example, accessing super in your 30s or 40s to use toward a house deposit, as opposed to being unable to touch the money until retirement and remaining with the cost of living crisis.
At the end of the discussion, Cameron Murray highlighted the key concerns of the panel and framed some key concerns facilitating the current cost of living crisis. With regard to housing, the panellists were in agreeance that stamp duty is economically harmful and that the current constraints on infrastructure development are severely impacting the housing crisis. In addition, the panel members agreed that real wage growth, and subsequent stagnation, is a key contributor to the cost of living crisis. On the side of contention, the panel members did not see eye-to-eye on migration and how they could reformulate superannuation to be a more effective policy tool – although they did all agree that it could be better than its current state.
After, Cameron handed over the microphone for questions amongst audience members and Gigi Foster proceeded to conclude the event.
