economy
Budget focuses on power bills, tax cuts and healthcare
27 March
FEDERAL BUDGET AT A GLANCE * Budget deficit of $27.6 billion this financial year * Commonwealth gross debt to rise to $940 billion (33.7 per cent of GDP) in 2024/25 before cracking $1 trillion the year after * Net debt to rise to $556 billion in...[Read More]
āUnfair, unrealisticā: young Aussies bear budget burden
27 March
Australian workers will be increasingly relied upon to prop up ballooning federal government spending, despite tax cuts handing back two years of bracket creep. The āmodestā cuts announced by Treasurer Jim Chalmers in the federal budget will...[Read More]
Tax changes ruled out as treasurer launches food fight
23 January
The treasurer has poured cold water on any new taxes, saying Labor is focused on targeted cost of living relief. Asked whether Labor would bring any new taxes to the upcoming federal election, Jim Chalmers said, āno, our focus is on the tax...[Read More]
āSurpriseā budget windfalls drying up, economists warn
28 November
Australia is waving goodbye to budget surpluses and returning abruptly to deficit, facing a $49 billion deterioration in the bottom line as per forecasts from leading economists. The $15.8 billion surplus logged in the last financial year to...[Read More]
Australian investment eyed for Peruvian mining pipeline
30 October
Peru is looking to Australian companies for hundreds of millions of dollars for critical mineral investment with 51 projects having a combined $US55 billion revenue potential in the pipeline to 2035. Peruās Energy Minister Romulo Mucho says China...[Read More]
Stage three tax cut spending spree yet to surface
17 October
Tax cuts donāt appear to be fuelling shopping sprees, with transaction data suggesting extra take-home pay is going towards staples and paying down debt. Footy finals were the only bright spot in an otherwise glum September for spending, with...[Read More]
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]
Australiaās 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. Thatās 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 Australiaās budget bottom line despite inflation levels receding. Communities in far north Queensland and the stateās 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. āThe transfer of these weapons increases the suffering of the Ukrainian people, supports Russiaās war of aggression and...[Read More]