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Dinner in Restaurant

What war in Ukraine means to you

I interview Ian Mortley from WLW Group on his insights into how the war in Ukraine will affect business in Australia and our economy.

We’ve all heard in the media about the principal giveaways that occurred in the budget:

  • $250 per head if you’re a pensioner or have a concession card

  • the low-income tax offset

  • the reduced minimum pension requirements

However, at WLW Group we prefer to focus on a strategic level, and areas that have an impact on our clients' businesses, as well as our own lives. Our hearts are with all the people of Ukraine having to experience this tragedy, though it’s important that we discuss how the Ukraine War will affect our lives and businesses in Australia.

In this interview, we talk about the invasion of Ukraine by Russia, followed by fuel prices which ultimately leads to inflation and interest rates.

A summary of topics we cover:

  • Budget papers

  • The motivation of the Russians

  • Why did they start this war

  • Land corridors into Russia

  • Analogy re Australia and Asia

  • Disruption has been financial, not physical

  • Some movement due to US strategic reserve

  • If your business is very fuel-dependent

  • Fuel prices and the supply chain

  • If you have clients or customers in the building game

  • Food prices: Ukraine, Russia and wheat

  • Effect through the food chain

  • Other problems on the horizon - China phosphate ban, natural gas & nitrogen fertiliser, potash

  • Inflation & RBA

  • Election spending: fire and flood recovery and defence spending

  • RBA was saying no rate increases till 2024

  • Expect the cash rate to rise by up to 1.25%



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