Supply the key to fixing housing, not taxes: Treasury
The focus of the government should be on increasing housing supply rather than cutting tax concessions for property investors, the Treasury chief says.
economy, business and finance
February rate cut hopes hinge on jobs market softening
The economic outlook has been downgraded as the big four banks' predictions of a February interest rate cut narrows.
Albanese sees sun breaking through dark economic clouds
The prime minister strikes an optimistic tone in a speech to the business crowd, saying the worst economic storms are over and the future may be much brighter.
Light rail to slow to a crawl as union ramps up demands
Sydney Commuters face frustratingly slow light-rail trips as industrial action linked to a wages dispute between drivers and a major private operator heats up.
RBA resists taking a punt on Melbourne Cup day rate cut
The Reserve Bank has not gambled on a Melbourne Cup rate reduction, with punters left to ponder whether borrowers will receive a windfall before Christmas.
Westpac’s profit dips to $7b as mortgage stress eases
Westpac has posted an annual profit of $7 billion and lifted its final dividend, in Peter King's last financial result as chief executive.
‘Con job’: government flushes hydro energy project
A report says a scrapped pumped hydro scheme proposed by the former Queensland government had no value for money, with costs blowing out to almost $37 billion.
Rail, ferries and ports to merge in transport shake-up
Three Tasmania state-owned services companies could be merged in a bid by the minority Liberal government to boost performance and accountability.
PM rallies Labor troops ahead of election showdown
The prime minister has used a key speech to lay out parts of his second-term agenda, with education shaping as an election battleground.
Shuck horror! WA-grown Sydney Rock Oysters heading east
According to a Western Australian farm backed by Andrew Forrest and his ex-wife Nicola Forrest, some of the best Sydney Rock Oysters don't come from NSW.
RBA tipped to keep rates steady for 12th straight month
Interest rates have been kept on hold for almost a year and are broadly expected to stay there until cuts start in early 2025, provided inflation keeps easing.
HECS cut to help fix ‘intergenerational unfairness’: PM
The federal government has unveiled plans to cut HECS debt by one-fifth for university students if it wins the next election.
Broken system lets big business off tax hook: institute
Major corporations that pay no company income tax are taking advantage of a broken system that needs government intervention, a think tank says.
Calls to bring forward PM’s plans for student loan help
The prime minister wants to recalibrate Labor's agenda following controversy, pitching student loan help at graduates juggling cost-of-living pressures.
Miners dominate company tax list as others pay zero
A corporate income tax haul of almost $100 billion is being hailed as a "great result" but almost a third of major Australian companies avoided a tax bill.
Labour hire workers in line for boost to wages
New laws requiring labour-hire workers to be paid the same as other employees have come into effect.
Strengthening wildlife numbers key to mitigate bird flu
The Invasive Species Council wants better bird protections to mitigate the impact of a deadly bird flu strain as Australia war games how to contain an outbreak.
Property market easing with falls across four capitals
Slowing momentum in home price growth bodes well for those hoping to get a foot on the property ladder as the central bank weighs rate cuts.
Profit squeeze as supermarkets try to win back shoppers
Woolworths and Coles are ratcheting up discounts to win back shoppers dissatisfied with price rises in the sector, and taking a hit to profits in the process.
Wesfarmers defends record profits amid cost crisis
Wesfarmers chair Michael Chaney is reclaiming the word "profit" as the parent company of Kmart and Bunnings reaps a record profit amid a cost-of-living crisis.
Aussies willing to visit eight shops for groceries
The cost-of-living crunch is motivating more Aussies to shop around but it hasn't halted Coles sales growth, up 2.9 per cent in the first quarter.
Optus regrets ‘unacceptable’ conduct alleged by ACCC
Australia's second-largest telco says it failed to meet expectations after the consumer watchdog alleged "unconscionable conduct" against vulnerable customers.
Flight upgrades still clear for take-off despite outcry
Aviation experts say flight upgrades for business leaders and politicians are likely here to stay after concern about the prime minister's travel arrangements.
Demand to pressure US senators out of kangaroo ban
Australian politicians and officials have been asked to pressure US senators out of a kangaroo ban that could harm exports and farming.
‘People haven’t splurged’: tax cut spending subdued
Australian retailers are finally starting to see a more upbeat consumer, though spending is unlikely to be strong enough to fan the flames of inflation.
‘Long way to go’ as record number of scams reported
Complaints about scams and financial hardship have grown in one of the most worrying trends of the past year, according to the peak financial complaints body.
Fish furore: Woolies refuses to phase out farmed salmon
Woolworths shareholders have questioned the company's board over its pricing practices and use of farmed salmon which threatens the existence of a rare fish.
Nine grocery items bill tops $100 in remote community
Some Indigenous communities are paying twice as much for groceries as people in capital cities, a consumer advocacy organisation investigation has found.
UK Labour raises taxes by most since 1993
Chancellor of the Exchequer Rachel Reeves has raised UK taxes by $A79 billion to cover a shortfall inherited by the new Labour government.
Big coal miner stares down protests, shareholder vote
Shareholders voting at Whitehaven Coal's annual general meeting have supported the company's executive remuneration plan, defeating moves to spill the board.
Woolworths profits down as cost of living hits shoppers
Profits at Australia's biggest supermarket giant have taken a hit as cash-strapped shoppers search the aisles for cheaper options and Woolworths shares slump.