Savings found to cover billions in new federal spending

13 December

Almost $10 billion in savings and spending changes have been clawed back as part of the mid-year federal budget review. The savings and reprioritisations include billions slashed from the federal infrastructure pipeline last month, the finance...[Read More]

Mid-year budget review examines challenges for economy

13 December

KEY CHALLENGES FOR AUSTRALIA’S ECONOMY * Economic growth is expected to moderate to 1.75 per cent in 2023/24 before recovering to 2.25 per cent in 2024/25 * Household budgets remain under pressure from elevated but moderating inflation and higher...[Read More]

Major projects funding to be slashed by billions

13 December

Spending on road and rail projects is expected to be adjusted by $7.4 billion over four years under a re-profiling by the Albanese government. The mid-year budget update, released on Wednesday by Treasurer Jim Chalmers, reveals reforms to the...[Read More]

Financial boost on the way for working pensioners

18 October

Seniors will soon be able to earn more money without their fortnightly age pension being affected. Laws introduced to federal parliament on Wednesday will give a $4000 boost to those on the pension who are also doing some paid work. Under the...[Read More]

Welcome progress on inflation as rate hikes take effect

30 August

The pace of inflation has slowed more than expected, suggesting the Reserve Bank’s rapid-fire interest rate hikes are working. The Australian Bureau of Statistics reported a healthy moderation in its monthly consumer price index to 4.9 per cent in...[Read More]

Few plan to spend tax returns as economy stalls

12 July

Just one in 20 Australians plan to splurge on big-ticket items when their tax returns come through, with most opting to squirrel them away or pay down debt. Amid acute cost of living pressures and a string of interest rate rises, surveying by...[Read More]

Australia not expected to enter recession.

5 July

Acting Treasurer Katy Gallagher has called on the states and territories to better “phase” their massive infrastructure projects, but stopped short of labelling them inflationary. Senator Gallagher said the federal government was working with...[Read More]