Budget ‘improves liveability’ in regions
The Albanese government says it is committed to regional Australia's future, funding health, skills and connectivity, while delaying dam projects.
economy, business and finance
Environmental projects get ‘down payment’
More than $1 billion will go towards protecting the Great Barrier Reef, with budget funds also set aside to save the nation's iconic endangered animals.
Billions set aside for aged care reforms
The government will spend billions in the federal budget overhauling the aged care sector, while COVID-19 response measures are also being extended.
Workers must wait two years for a pay rise
A gloomy economy will weigh on household budgets with a boost to real wages not expected until at least mid-2024.
Power prices tipped to rise by 50 per cent
Retail electricity prices are expected to rise by 50 per cent over the next two years, the budget papers have revealed.
Slaying inflation dragon key: Chalmers
Jim Chalmers has begun the task of budget repair, even as households face power price spikes and lower real wages due to rising inflation.
PM vows to lead UK out of economic crisis
UK Prime Minister Rishi Sunak has reappointed Jeremy Hunt as his finance minister and vowed to fix the "mistakes" of his predecessor.
Chalmers braces for budget belt tightening
Treasurer Jim Chalmers has unveiled a budget that includes cost of living relief and down payments on election promises, but warns of hard decisions to come.
Labor gears up to hand down first budget
Soaring inflation and almost a trillion dollars of debt will set the scene for the Albanese government's first budget.
Petrol price spike looms for motorists
Some retailers are already charging more than $2 a litre as cities move into the first new fuel cycle since petrol tax relief expired.
Inflation higher for longer: Treasury
Inflation is going to hang around for longer due to persistently high energy prices and floods in southeast Australia, Treasury forecasts say.
Gloomy backdrop for first Albanese budget
The Labor government is handing down its first budget at a time of economic turbulence. Here's why that matters.
Labor ready for tough job of budget repair
Finance Minister Katy Gallagher says Tuesday's budget will include over $21 billion in savings and decisions to redirect existing spending.
Weak dollar a ‘modest’ inflation driver
The weakening Australian dollar will make imports more expensive but the RBA says its effects will be relatively minor.
Budget to look at power price pressure
Labor is promising relief on energy costs in the federal budget as it stands by its election pledge to reduce power bills.
Floods put growth forecasts at risk
Flooding in NSW, Victoria and Tasmania will add almost 10 per cent to the price of fruit and vegetables at the supermarket.
Jobless rate stays at 3.5 per cent
Hiring new workers has barely got any easier with the national unemployment rate remaining stable at 3.5 per cent in September.
Tesla confirms electric trucks for 2022
Tesla has revealed plans to launch one electric truck and begin producing another amid bold predictions from Elon Musk that the company will out-perform Apple.
‘Dog act’ Medibank hack details revealed
The federal cyber security minister has warned attacks on large companies could become more common, after an incident at Medibank.
Origin Energy upgrades outlook on gas gain
Origin Energy has upgraded its outlook as gas earnings surge amid the global supply shock, with Australian power bills set to rise into 2024.
Gas windfall ‘war profits’ surge to $40b
Gas producers face pressure to share their profits with taxpayers to help households and businesses pay bills, but it's been ruled out for next week's budget.
More rural towns lose their last bank
The Finance Sector Union says Westpac has announced the closure of 23 of its group's branches across Australia, with the loss of 92 jobs.
New home building activity drying up
Builders still have a record amount of work on their plates but new activity is easing back, according to the Australian Bureau of Statistics.
Pay secrecy clauses on chopping block
The Albanese government has kicked off its workplace reform agenda with a suite of measures to close the gender pay gap.
BHP ‘well-positioned’ for more uncertainty
Amid tricky global conditions, mining giant BHP is backing itself to win long-term from the mega-trends of decarbonisation and electrification.
UK PM Truss apologises for economic plan
With her economic plan largely reversed, Liz Truss is now fighting to survive just six weeks after becoming British prime minister.
New UK finance minister reverses tax plan
Nearly all of Prime Minister Liz Truss's mini-budget has been reversed by new finance minister Jeremy Hunt.
Reserve Bank nervous about rate hike lag
The Reserve Bank wants to give its earlier aggressive rate hikes a chance to flow through and is worried consumers could slam the brakes on spending.
Cost of living relief could spur inflation
Treasurer Jim Chalmers says any cost of living relief will need to be targeted in the federal budget to avoid further financial pressures on Australians.
Star Sydney licence suspended, $100m fine
The NSW Independent Casino Commission has fined Star Entertainment a record $100 million and suspended the gaming licence for its Sydney casino.
NSW ‘short-changed’ in federal cash splash
The federal government is pledging $9.6 billion to boost road and rail infrastructure across Australia, but NSW says it has been short-changed.