economy
Millions of welfare recipients to get boost in payments
7 March
Australians on social security are set to receive more money in their pockets when payments are indexed. Those on the age pension, disability support pension and carer payment will pocket an extra $19.60 for singles and $29.40 for couples combined...[Read More]
Aussie funding helps Pacific athletes attend Olympics
14 February
Australian taxpayers will help fund Pacific nations get to the looming Olympic and Paralympic Games in Paris. Sports in 13 Pacific nations will receive $1.47 million funding from the federal government in partnership with the Australian Olympic...[Read More]
Australia’s clean exports could slash global emissions
14 February
Australia could cut anywhere between six and nine per cent of global emissions by doubling down on green export industries all while powering another round of prosperity to rival the mining boom. That’s the message leading economist Ross Garnaut...[Read More]
Jetsetters and shoppers spend big as confidence returns
17 January
Australians have begun opening their wallets, with consumer confidence making a comeback amid positive economic signs. Consumers spent an average of nearly $200 more during the 2023 Black Friday and holiday season compared to the year before,...[Read More]
Unemployment to stay low despite drop in job vacancies
11 January
Unemployment remains stubbornly low amid a gradual cooling in the jobs market, but the resilience of the Australian economy is being tested by a global slowdown. Job vacancies dropped 0.7 per cent to 389,000 in the three months to November 2023,...[Read More]
Storm clouds loom for economy as rain, floods take toll
11 January
Storms and heavy flooding could wash away Australia’s budget bottom line despite inflation levels receding. Communities in far north Queensland and the state’s southeast have been battered by severe rain, while residents in Victoria, South...[Read More]
Hi-tech guns for frigates to give navy edge at sea
10 January
Australia will spend $380 million on naval artillery guns and fully automatic ammunition systems for its Hunter class frigates. BAE Systems has been contracted to deliver the weaponry which is due to be completed by 2036. The automated gun system...[Read More]
Black Friday sales get tills ringing as Aussies cash in
10 January
Shoppers spending big at Black Friday sales have delivered a larger-than-expected boost to retail figures. Retail turnover rose two per cent in November, following a 0.4 per cent drop in October, Australian Bureau of Statistics figures...[Read More]
Canberra condemns Russia getting North Korean missiles
10 January
Australia has condemned Russia for receiving ballistic missiles from North Korea as well as their use against Ukraine. “The transfer of these weapons increases the suffering of the Ukrainian people, supports Russia’s war of aggression and...[Read More]
Savings found to cover billions in new federal spending
14 December
Almost $10 billion in savings and spending changes have been clawed back as part of the mid-year federal budget review. The savings and reprioritisations include billions slashed from the federal infrastructure pipeline last month, the finance...[Read More]
Mid-year budget review examines challenges for economy
14 December
KEY CHALLENGES FOR AUSTRALIA’S ECONOMY * Economic growth is expected to moderate to 1.75 per cent in 2023/24 before recovering to 2.25 per cent in 2024/25 * Household budgets remain under pressure from elevated but moderating inflation and higher...[Read More]
China eases trade beef but abattoirs chase bigger stake
13 December
China has lifted suspensions from three Australian abattoirs in a further easing of punitive trade sanctions. China’s customs agency has removed bans on Teys Australia in Naracoorte, South Australia, Australian Lamb Company in Colac, Victoria, and...[Read More]
Major projects funding to be slashed by billions
13 December
Spending on road and rail projects is expected to be adjusted by $7.4 billion over four years under a re-profiling by the Albanese government. The mid-year budget update, released on Wednesday by Treasurer Jim Chalmers, reveals reforms to the...[Read More]
Heated inflation figures put rate hike firmly in play
26 October
The latest inflation data has come in hotter than expected and may stir the Reserve Bank into a Melbourne Cup Day rate hike. Consumer prices as tracked by the Australian Bureau of Statistics rose 1.2 per cent over the three months to September, up...[Read More]
Financial boost on the way for working pensioners
19 October
Seniors will soon be able to earn more money without their fortnightly age pension being affected. Laws introduced to federal parliament on Wednesday will give a $4000 boost to those on the pension who are also doing some paid work. Under the...[Read More]