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The Latest Breaking News from Chris Richardson

Do the PRRT changes in the budget go far enough to fix a 'broken' Petroleum Resource Rent Tax?

Economists and energy experts say the government is short-changing Australians with planned changes to the Petroleum Resource Rent Tax that will only raise an additional $2.4 billion over five years.

ABC News

Chalmers defends budget’s ‘meaningful’ help amid split on interest rate risks

Treasurer Jim Chalmers has defended his second budget as offering "meaningful relief to households" – while not contributing to inflation.

The New Daily

Anthony Albanese reassures Labor faithful on budget eve

The budget will include $14.6 billion in cost-of-living policy measures, targeted, Mr Albanese said, “for those who need it most”.

The New Daily

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Welfare payment boost expected for people aged over 55

Older Australians are tipped to receive a modest boost to JobSeeker payments, with a commitment to considering broader increases to welfare payments expected.

The New Daily

Flush with cash, government is crying poor before budget

The budget balance is in the black – which makes compulsory doomsaying and lowering of expectations much harder to pull off for Jim Chalmers.

The New Daily

Tax shield on super gas profits leaves Australians looking like 'chumps', economist says

It was once described as world-leading, but calls are growing louder for changes to Australia's super gas profits tax amid claims it is collecting "beer nuts".

ABC News

Galopin Des Champs and Bravemansgame to renew rivalry in Punchestown Gold Cup on Wednesday

The two stars will do battle one month on from their epic Cheltenham Gold Cup clash.

Irish Mirror

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Grattan on Friday: Chalmers grapples with a budget where economics and politics pull in different directions

Last weekend’s report that more than 10 million Australians are facing a large tax rise wasn’t a new revelation.

The Conversation

Difficult budget decisions after $368 billion nuclear subs splurge

A plan to acquire a fleet of nuclear subs has been unveiled, but experts said the eye-watering price tag will force tough budget debates.

The New Daily

Plans revealed for new homes and shopping centre remodel on Leith's waterfront

Plans for a neighbourhood on Leith’s waterfront, including 580 homes and public landscaped spaces, have been submitted to City of Edinburgh…

The National (Scotland)

The government is sitting on (nearly) a trillion dollars of debt. How big a problem is it?

In late June, Australia's national debt was $895 billion, but many economists argue the total, or gross debt figure is not the best debt figure to look at, Tom Lowrey writes.

ABC News

Australia Institute: Gas tax could cover energy transition costs

A windfall profits tax levied on the export gas industry could pay for the government's $20 billion commitment to the energy transition.

The New Daily

IMF outlook for world economy could herald dark clouds for Australia

Analysis: Treasurer Jim Chalmers will no doubt reveal inherited budget bungles but he won’t need to look far for new tales of economic woe

The Guardian - AU

Paul Bongiorno: Albanese discovers the pitfalls of juggling debt and the pandemic

Being in government is always a seat of the pants enterprise no matter that our political leaders try to convince us otherwise.

The New Daily

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ABC News

Jim Chalmers says the current government has taxed, borrowed and spent more than Labor did. Is that correct?

Shadow Treasurer Jim Chalmers says the current government has taxed, borrowed and spent more than the previous Labor government. RMIT ABC Fact Check takes a look at his claim.

AAP

Economic outlook 'tricky' despite strength

Australia's economic recovery has been faster and better than expected, but war in Europe and China's COVID-19 outbreaks are wildcards for the nation's outlook.

ABC News

Scott Morrison has made a federal election pledge to create 1.3 million jobs. Here's why post-COVID immigration might play a big part

Scott Morrison has made a seemingly bold pledge to create 1.3 million jobs over five years. Here's why it's got a lot to do with international borders, and why it might sound so familiar.

AAP

Budget handout to fuel inflation: Deloitte

Deloitte Access Economics economist Chris Richardson has warned any handouts in the March 29 budget will add to inflation pressures.

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The Guardian - AU

‘Stunning pay rise’: commodity boom to fuel improved Australian budget

Export revenues and low jobless rate combine to cut almost $90bn from projected federal budget deficit

The Conversation

Politics with Michelle Grattan: Stay calm, petrol is headed down, budget is improving – economist Chris Richardson

Australia’s budget situation has been quietly improving. Deloitte Access Economics director Chris Richardson says the remarkable strength of the Australian economy means it no longer needs the emergency support it has been getting from the government and the Reserve Bank. Government spending fell by a record 10% in the year…

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