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The Latest Breaking News from Federal Budget

National Gallery of Australia among institutions to receive $535m to avert funding crisis

National gallery, library and museum among organisations to be thrown financial lifeline after years of underfunding

The Guardian - AU

‘Unfair and unsustainable’: How Australia could save up to $13.5 billion curbing super tax breaks

The federal budget could save up to $13.5 billion a year by curbing superannuation tax breaks that disproportionately benefit the richest Australians,

The New Daily

Federal budget 2023: Long-term investments are needed to fix Canada’s infrastructure gap

The federal government’s 2023 budget unveiled investments in infrastructure, with a narrative highlighting resilient and sustainable communities, and pointing to Ottawa’s progress and investments to date.

The Conversation

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Federal budget 2023: Grocery rebate is the right direction on food insecurity, but there's a long road ahead

With grocery prices at an all-time high, Canadians were paying close attention to the 2023 federal budget and what relief it might bring.

The Conversation

Poll: Cut federal spending — but not big-ticket programs

In the federal budget standoff, the majority of U.S. adults are asking lawmakers to pull off the impossible: Cut the overall size of government, but also devote more money to the most popular and expensive programs

The Independent UK

The "missing piece" of climate and energy policy

Australia's peak union body has called on the Federal Government to establish a national energy transition authority in the federal budget.

Newcastle Herald

Editorial: To be, or not to be, afraid of the federal budget?

Opinion editor's note: Editorials represent the opinions of the Star Tribune Editorial Board, which operates independently from the newsroom.

Tribune News Service

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Greater push for renewables, net-zero urged for budget

A new report has called for a bigger investment in renewable energy developments and net-zero targets for the federal budget.

AAP

Iraq’s Finance Minister Says Completes 2023 Budget Bill

Iraqi Finance Minister Taif Sami announced the completion of the draft of the federal budget law for 2023 and its submission to the Cabinet for discussion and a vote. According to a statement by Sami, the bill was prepared during extraordinary circumstances endured by the global economy and was drafted…

Asharq Al-Awsat

Biden budget vs. House GOP: Values on display in debt fight

President Joe Biden's federal budget is a statement of his values

The Independent UK

Biden to seek more than $2.8B from Congress for cancer fight

President Joe Biden is requesting more than $2.8 billion in the federal budget proposal he's sending to Congress to help advance his cancer-fighting goals

The Independent UK

Biden budget seeks big deficit cuts in challenge to GOP

President Joe Biden is ready to unveil his proposed federal budget, his opening offer in a high-stakes debate about federal finances

The Independent UK

Iraq, Kurdistan Region Discuss Disputed Areas, Federal Budget

A security delegation from the federal government arrived in Erbil Sunday, while another one assigned by the regional government arrived in Baghdad to discuss outstanding issues. The regional government delegation seeks to discuss the most pressing issues, including the 2023 budget, the disputed share of the region, and other topics…

Asharq Al-Awsat

SA premier says fed budget must ease GP crisis

South Australian Premier Peter Malinauskas says this year's federal budget must include a serious commitment to ease the GP crisis.

AAP

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AAP

Energy price relief in spotlight of federal budget

As federal parliament returns for the new year the government faces pressure to deliver further energy price reductions after intervening in the market.

The Guardian - AU

Superannuation tax breaks will cost budget $52bn, almost matching Australia’s age pension

New analysis calls for major changes including restrictions on concessions as the country risks having ‘two classes of state-funded retirees’

The Conversation

I helped balance the federal budget in the 1990s – here's just how hard it will be for the GOP to achieve that same rare feat

Kevin McCarthy reportedly promised many things to Republican hardliners en route to clinching his job as speaker of the U.S. House of Representatives. One of them was a “balanced budget” in 10 years.

The Independent UK

India finance minister announces new clean energy funds

Indian finance minister Nirmala Sitharaman announced several new clean energy initiatives in her annual federal budget speech on Wednesday, saying “green growth” is a top priority for the country

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The Independent UK

Biden signs $1.7 trillion bill funding government operations

President Joe Biden has signed a $1.7 trillion bill funding government operations through September 2023, the end of the federal budget year

Reason

November's $249 Billion Federal Budget Deficit Set a Record. Now, Congress Is Preparing To Spend Even More.

The government spent $501 billion in November but collected just $252 billion in revenue, meaning that about 50 cents of every dollar spent were borrowed.

The New Daily

New South Wales approved a UN jail visit before backflipping

NSW agreed to let human rights inspectors visit its jails before going back on its decision, a federal budget estimates hearing revealed.

ABC News

Negative gearing and capital gains tax discount set to cost the budget $20 billion a year within a decade

The cost of negative gearing is set to more than triple as interest rates rise and, with it, the capital gains tax discount is expected to cost the federal budget more than $20 billion a year within a decade.

ABC News

Millions allocated in federal budget to abolish cashless debit card, but support for participants unknown

Opponents of the card are calling for greater clarity from the Albanese government about what services will be made available to support the thousands of people transitioning off the program.

The Conversation

The budget sounded warnings of an NDIS 'blow out' – but also set aside funds to curb costs and boost productivity

In this week’s federal budget the costs of the National Disability Insurance Scheme (NDIS) have been revised upwards, with average forecast growth of 14% a year over the next decade.

The Conversation

Money for dams dries up as good water management finally makes it into a federal budget

A story from the early days of the Abbott government still circulates in the halls of Parliament House.

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