Aussies to keep more of what they earn as tax cuts pass
Low and middle income earners are guaranteed bigger tax cuts after changes championed by Prime Minister Anthony Albanese cleared federal parliament.
economic policy
Price gouging is everywhere, on everything, all at once
Leading economist Allan Fels says a lack of competition and exploitative practices are just a few reasons why Australia needs to look more closely at prices.
‘We’ll see’: Albanese throws down gauntlet on tax cuts
Prime Minister Anthony Albanese is putting pressure on the coalition to back Labor's stage 3 tax cut changes, as federal parliament returns for the new year.
Dutton signals support for Labor’s changes to tax cuts
Australians in need of greater assistance are soon expected to get some relief, with signs the coalition is unlikely to oppose reworked tax cuts.
Albanese tax plan will give average earner $1500 tax cut – more than double Morrison’s Stage 3
A person on the average annual wage of $73,000 will get a tax cut of more than $1500 a year under Labor’s revamped tax policy – more than double the cut they’d have received under the Coalition’s legislated stage 3 plan.
Middle income earners primed for extra tax relief
The prime minister says middle income earners are at the centre of an income tax overhaul that he will flesh out in a speech on Thursday.
Storm clouds loom for economy as rain, floods take toll
The fallout from severe storms in Queensland could lead to consequences for the economy and budget bottom line, Treasurer Jim Chalmers has warned.
NZ government axes $7b in projects as forecasts worsen
New Zealand Finance Minister Nicola Willis says the previous government were "economic and fiscal vandals", revealing a worsening set of economic forecasts.
consumer goods
consumer issue - macro economics
consumers
economic policy
economy (general)
road transport
transport
Transport costs accelerate by more than $900 a year
Households in some parts of Australia are paying more than $27,000 a year for transport after costs in the industry rose again.
budgets and budgeting
defence
economic policy
housing and urban planning
indigenous people
investments
politics
social issue
Hints of cooling inflation as next rates call looms
Aggressive interest rate hikes are working to slow the economy, timely measures of price movements and the jobs market suggest.
Why further RBA interest rate hikes are less likely now than even 1 week ago
Since Australia’s Reserve Bank hiked interest rates two weeks ago, there have been two important developments – one in the United States and the other in the United Kingdom. If it’s not clear to you why events overseas influence Australia’s interest rates, which are meant to be set to control Australian inflation, read on.
Australia’s new dawn: becoming a green superpower with a big role in cutting global emissions
The level of renewable energy required by the energy transition will see Australia's power prices fall to some of the lowest in the world.
Calls to cut flight caps to lower prices, boost tourism
Removing a cap on the number of international flights coming into major airports would lower ticket prices and increase quality, an inquiry has heard.
Public sector reforms may spell budget blues for NSW
NSW Treasurer Daniel Mookhey's budget figures could be in jeopardy, with interest rate rises impacting inflation in the year ahead.
Gig workers could be delivered billions in unpaid wages
Gig and labour hire workers could receive billions of dollars in unpaid wages as part of the government's latest raft of workplace reforms.
Burke slams ‘extraordinary’ $9b in total unpaid wages
It will cost employers more to pay workers fairly, the workplace relations minister says, but it is not expected to massively push up costs for consumers.
Budget’s $20b sugar hit won’t be shared with households
Households dealing with cost-of-living pressures are unlikely to get any extra relief despite a budget surplus shaping up to be much larger than forecast.
Monopoly players hinder RBA board’s game on inflation
The challenges faced by the Reserve Bank in seeking to put a lid on inflation will be highlighted at an economics conference in Brisbane.
Philip Lowe still on treasurer’s RBA top-job shortlist
The treasurer expects to make a decision on the Reserve Bank's leadership soon and he says he's picking from a well-qualified pool of individuals.
Independence key to RBA governor role, says Chalmers
Treasurer Jim Chalmers expects to make a decision on the Reserve Bank's leadership soon and says he's picking from a well-qualified pool of individuals.
Reserve Bank governor pledges ‘significant’ overhaul
Reserve Bank governor Philip Lowe has laid out a major shake-up of the central bank in the wake of a wide-ranging review into the institution.
‘Get on with the program’: PM’s blunt housing message
A stoush over Labor's $10 billion housing fund has boiled over in parliament, with the prime minister sending a direct message to the Greens.
Australia leads Quad partners meet on sidelines of G7
Prime Minister Anthony Albanese is meeting with his Quad counterparts on the sidelines of the Group of Seven summit in Japan.
Labor promises persistence on China trade reopening
Trade Minister Don Farrell has arrived in Beijing in a bid to end a long-running dispute blocking Australian businesses accessing lucrative Chinese markets.
Australia ‘not immune’ from global economic malaise
Despite a downbeat economic forecast, Australia should weather the worst of a weak international outlook due to low unemployment and high commodity prices.
Interest rate rises to delay Vic, NSW surplus returns
Higher borrowing costs would slow budgets returning to surplus in Australia's two most populous states, an independent credit agency has warned.
Consumers fret over new year of interest rate hikes
Another cash rate hike and suggestions of more to come has mortgage holders worried, with consumer confidence sinking to the lows of the pandemic.
Australia’s AAA rating affirmed
Strong demand for Australia's energy exports and the strong labour market have kept upwards pressure on the country's sovereign credit rating.
Push for social projects boost in north
In an annual statement on northern Australia, minister Madeleine King says more social projects are needed for the vast region.
G20 summit deplores war in Ukraine
G20 leaders meeting in Bali have deplored Russia's aggression in Ukraine and say the use or threat of use of nuclear weapons is inadmissible.
Reform needed to get through downturn: PM
Anthony Albanese has used a speech to argue the country will need to reform its way through the economic crisis, defending the government's first budget.