Treasurer seeks to soothe budget relief inflation worry
Jim Chalmers says his budget will not fan inflation or lead to more interest rate rises but some leading economic experts are not convinced.
economy (general)
Workers on track for fastest wage growth in decades
Fierce competition for workers and government wage polices are expected to underpin strong wage growth in 2024, the federal budget papers confirm.
Gas tax changes, super breaks on budget repair agenda
The treasurer has ruled out tinkering with family tax benefits when he hands down his second budget in May, but he could have gas producers in his sights.
Expert warns of growing tax burden ahead of budget
Former Treasury boss Ken Henry warns inadequate tax settings are worsening intergenerational inequality as the treasurer prepares for his second budget.
Shopping centres rebound in full year with no lockdowns
Major Australian shopping centres have turned over a record $54 billion in sales last year as customers returned to bricks and mortar shops after lockdowns.
Victorians facing energy price hikes of 30 per cent
Victoria's Essential Services Commission has proposed annual power bill increases of $426 a year for residential electricity customers on default offers.
More pain to come for mortgage holders, say economists
Despite a softening of language from the RBA, economists are tipping another rate rise when the central bank next meets.
Cost-of-living concerns impacting Aussie travel plans
After rebounding from the pandemic, the travel industry is facing further setbacks as holidaymakers face cost-of-living concerns.
Business conditions still strong, but confidence waning
Business conditions remain firmly in positive territory despite successive interest rate rises, although sentiment in the community has dived.
Households carry rate pain as businesses flourish
The disconnect between households worried about wages and mortgage repayments and businesses, which appear to be doing just fine, hasn't gone unnoticed.
Airfare prices flying high but descent in sight
Domestic airfares are still flying well above pre-pandemic levels but relief is in sight for passengers as prices start to drop.
economy (general)
food - consumer goods
housing and urban planning
indigenous people
politics (general)
poverty
prices
torres strait
Premier acts on Torres Strait cost-of-living summit
A Torres Strait Islands cost-of-living summit looking at how to ease soaring basic food prices, particularly on outer islands, will be held on March 20.
Plight of cold chain operator rings alarms bells
The fate of Scott's Refrigerated Logistics, which is the nation's largest cold chain transport operator, has set alarm bells ringing through the sector.
Super objective Labor’s top priority, not tax breaks
The federal government says it has made no decisions about major superannuation tax changes as the opposition continues its attack on the hinted proposals.
‘No mandate’ for changes to superannuation tax breaks
The federal opposition will not support changes to superannuation tax breaks flagged by the treasurer as he looks for opportunities to repair the budget.
Modest wage growth may take heat out of rate-rise cycle
Wages have improved again but by less than expected and not nearly enough to keep up with the cripplingly high cost of living.
Reserve Bank hikes interest rate, flags further rises
The Reserve Bank's hike in the cash rate to 3.35 per cent and indication of further rises has many concerned about the impact on jobs and the economy.
Wholesale energy prices, emissions falling
Wholesale electricity prices and carbon emissions dropped in the December quarter as solar and wind became "most valuable player" in the Australian market.
Hefty pay rises required to beat inflation
The soaring cost of living is leaving wages for dust, with workers needing generous pay rises to outpace inflation.
Recession fears if interest rates hiked
Deloitte Access Economics warns Australia could fall into a recession if the central bank lifts interest rates again, with households already hurting.
Mining, migration make Qld the top economy
The Sunshine State is the country's best-performing state economy for the first time in more than a decade of CommSec rankings.
Rio Tinto compo bill ‘nothing like’ $450m
Taxpayers are set to fund a compensation deal for Gladstone Power Station owner Rio Tinto over the coal price cap, but it will be "nothing like" $450 million.
Aussies spend record amount at Christmas
Christmas and Boxing Day sales have hit record amounts and growth with Australians rewarding themselves after a tough year.
Qld power plant set for coal cap compo
Taxpayers are set to fund a compensation deal of up to $450 million for Gladstone Power Station owner Rio Tinto over the coal price cap in Queensland.
coal
conservation
economy (general)
economy, business and finance
environmental politics
finance (general)
global change
mining
politics (general)
Palmer seeks coal climate ruling review
Clive Palmer's Waratah Coal wants a review of a Queensland court's advice that its proposed coal mine should be rejected due to climate change impacts.
Big wet fails to dampen farm production
Australian agriculture remains on track for an outstanding 12 months despite flooding across the east coast taking its toll, according to official forecasts.
More China lockdowns amid virus record
China has reported its highest number of daily COVID-19 cases since the start of the pandemic began nearly three years ago.
Southeast Asia ‘no proxy for any powers’
ASEAN shouldn't let tensions between the US and China turn Southeast Asia into the front lines of a new Cold War, Indonesia's president says.
Westpac says no stressed customers – yet
Westpac is seeing no signs that higher rates are causing mortgage delinquencies, but says it is inevitable they will eventually have an impact.
RBA sees the pain but says rates must rise
Reserve Bank of Australia Governor Philip Lowe has underlined his case for raising interest rates, warning that not doing so could have dire consequences.
Banknote demand rising as more hoard cash
More Australians holding on to high-denomination banknotes because they apparently want to keep cash close to hand, according to central bank data.