Prominent businessman Mark Bouris has blamed federal government policies for making housing unaffordable and fuelling a growing culture of economic dependence.
The Yellow Brick Road executive chairman said Australia is moving further away from productivity and toward a model that relies on public spending, soaring taxes, and bloated government hiring.
Writing in a News Corp opinion piece, Mr Bouris revealed that by 2025, more than half of working-age Australians will receive their primary income from the government.
‘Right now in Australia, more than half of working-age adults get their main source of income from the government,’ he said.
‘That includes income from public sector jobs, as well as from JobSeeker, family payments, disability support, and more. According to The Australian Financial Review, we’re at the highest level of dependency since World War II.’
Mr Bouris also cited The Australian, which reported that 82 per cent of all jobs created over the past two years were government-funded. In contrast, just 53,000 private sector jobs were added last year – while public sector employment surged at five times the usual rate.
He warned that the rise in government-funded jobs was distorting the labour market and driving down productivity.
‘But here’s the worst part. To sustain this level of income support and public hiring, the government has to dramatically increase both taxes and spending. And that’s what they’ve done,’ he said.
Mark Bouris says the government’s policies are making life harder for Aussies
In 2025 more than half of working-age adults in Australia received their main source of income from the government
According to Mr Bouris, total tax revenue reached a record $801.7 billion in 2023-24 -nearly 30 per cent of GDP. By 2025-26, income tax alone is projected to exceed $343 billion.
‘It means workers and businesses are facing their biggest tax burden in decades,’ he said.
Mr Bouris also criticised the Reserve Bank and government for drastically expanding the money supply over the past decade.
He said the total amount of cash in circulation had grown by 80 per cent since 2015 – with more money ‘chasing the same supply of goods, housing, and services.’
‘And that’s exactly what causes inflation,’ he said. ‘We’re seeing that play out in everyday prices at the supermarket, in energy bills, and most of all, government overspending has helped weaken the Australian dollar.’
A weaker dollar, he said, pushes up the cost of imported goods and building materials, driving construction costs higher — and in turn, making property even more expensive.
‘Meanwhile, inflation has pushed investors toward property as a store of value, sending demand – and prices – even higher,’ Mr Bouris said.
He said Australians shouldn’t be fooled when the government talks about improving ‘affordability,’ because its own policies are making it harder for ordinary people to buy a home.
And it’s not just prices under pressure – productivity is also taking a hit.
The job market is changing dramatically in Australia
‘To keep the machine running, the government is taxing more – especially on income, savings, and investment,’ Mr Bouris said.
‘But high taxes make it harder for people to start a business, grow one, or take financial risks. The result? Investment slows. Innovation stalls. Businesses hesitate. And Australia’s ability to actually produce more, to meet all this demand, keeps falling behind.’
‘That’s when inflation really sticks: when demand is pumped up by public spending, but supply can’t keep up. Prices rise faster, and stay higher.’
Former Treasury Secretary Ken Henry has claimed that Australia’s poor productivity performance has cost the average worker $500,000 in lost income over the past 25 years.
The Centre for Independent Studies has also warned that real wealth creation depends on private sector-led growth, not government spending artificially boosting demand.
‘But right now, that’s exactly what we’re doing,’ Mr Bouris said.
‘We’re building an economy on dependence, not on productivity. We’re growing jobs in government, not in business. We’re taxing more but getting less. And we’re printing money instead of creating value.’
He said the country is at a crossroads.
‘It’s a choice between building an economy that rewards effort, innovation, and work – or one that makes Australians more dependent and more taxed,’ he said.
‘And right now, we’re heading down the wrong path.’
Mark Bouris is Executive Chairman of Yellow Brick Road Home Loans
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