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Budget to ease cost of living burden, build better future: PM
Treasurer Jim Chalmers is preparing to hand down his third federal budget, which will deliver cost-of-living relief and a $9.3 billion surplus. Follow updates here
- 52 mins ago
- Gus McCubbing and Esther Han
BHP’s $64b game; Chalmers slams ‘trick’ claim; Meme stock stupidity
Read everything that’s happened in the news so far today.
Chalmers rejects ‘political trick’ inflation reduction claim
Former RBA board member Warwick McKibbin levelled the claim ahead of Tuesday’s budget, while economists warned bill relief would only stoke consumer demand.
- Ronald Mizen and Michael Read
Here’s what we know is in Tuesday’s federal budget
Treasurer Jim Chalmers will hand down the Labor government’s third federal budget this week. Here’s everything we know ahead of the announcement.
- Updated
- Tom McIlroy
Miners hope for budget tax credits
Lithium and nickel miners who lobbied for tax breaks are set to be among the big budget winners as the Albanese government tries to shore up its ‘made in Australia’ plans.
- Brad Thompson
Yesterday
Budget surplus of $9.3b and then a sea of red ink
Tuesday’s federal budget will forecast a surplus of $9.3 billion for this financial year, after which the bottom line will plunge into successive deficits.
- Phillip Coorey
Smart wallet encryption to get $23.4m budget boost
Amid a wave of identity theft, $11 million has also been pledged over four years to upgrade the Credential Protection Register.
- Tom Burton
Turbocharge business investment tax break, Labor urged
Small business says Labor’s investment tax break is not ambitious enough to boost growth in the economy.
- Tom McIlroy
- Opinion
- The AFR View
Lure global capital with internationally competitive tax reform
Rather than Jim Chalmers’ “new growth model”, the fair dinkum way to increase foreign investment would be to progress a genuine growth agenda.
- The AFR View
Calling time on international student numbers
Australia’s universities and colleges are fighting plans to reduce international student numbers. Spurred by the housing crisis, the government thinks it has no choice.
- Jennifer Hewett
‘I just need an actual job’: No relief for students in debt nightmare
The biggest contributor to student debt is a scheme called Job Ready Graduates. But it doesn’t look like there will be any reprieve in the budget.
- Julie Hare
- Opinion
- Chanticleer
Investors shouldn’t believe Chalmers on inflation just yet
For inflation to get back to target by Christmas, more pockets of pain will have to emerge. But the corporate sector is holding up well.
- Updated
- James Thomson
Budget handouts put interest rate cuts further out of reach
Economists have warned handouts that bring down bills will not rein in underlying inflation, undermining the government’s message that its budget will help the Reserve Bank.
- Updated
- Michael Read
Rate rise still priced in despite Chalmers’ ‘optimistic’ forecasts
Bond markets are continuing to bet that the RBA will have to lift rates this year, despite new government forecasts predicting inflation will fall faster than the central bank expects.
- Updated
- Alex Gluyas
R&D boost needed for Future Made in Australia plan to fly
Australian firms that develop innovative technologies say they are disincentivised to build their products in Australia and are calling for R&D incentive changes.
- Tess Bennett
‘Horrible on every level’: Universities object to migration changes
Changes to limit the number of foreign students at educational colleges, universities and schools are highly interventionist and prescribe not only where students can study but what they can learn, providers said.
- Updated
- Julie Hare
Aged care providers back delaying pay rises
Aged care employers have supported the government’s proposal to phase-in aged care pay rises, clashing with unions who are demanding the full rise by July 1.
- David Marin-Guzman
- Opinion
- Australian economy
The one standout success metric for the budget
More investment is required to drive productivity. We won’t get this without cutting red tape and making the things more business-friendly.
- Bran Black
- Opinion
- Opinion
This is a bold opportunity to refocus Australia’s economy
The Future Made in Australia Act is not picking winners. It is about reshaping whole sectors around a mission of managing climate change.
- Mariana Mazzucato
Plane makes safe emergency landing in Newcastle
A light plane with three people on board and no functioning landing gear has landed safely after circling for two hours. Sydney bishop stabbing videos back online after court’s decision. Follow updates live.
- Updated
- Gus McCubbing
