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The Latest Breaking News from Federal Budget

Could the US Government's Fiscal Year End Fund Your Trading Account?

The US government's fiscal year significantly impacts financial markets because the federal budget process influences economic policy, government spending, and fiscal stability. As the fiscal year draws to a close on September 30, market participants closely monitor budget negotiations, potential government shutdowns, and funding decisions, which can create uncertainty and…

Barchart

Presidential Candidates Promise To Eliminate Taxes On Tips

Trump and Harris propose eliminating tip taxes, but experts question its impact on workers and the federal budget.

Top News

Congressional Budget Office projects a $400 billion increase in this year’s federal deficit

The Congressional Budget Office said Tuesday that it projects a federal budget deficit increase of $400 billion or 27% this year, from its last budget outlook released in February

The Independent UK

A rush on critical minerals is coming for our most remote and disadvantaged communities

The Australian mining industry was promised billions of dollars in last week’s federal budget to boost critical minerals such as lithium, copper and rare earth metals. This includes tax incentives, an innovation fund and money for Geoscience Australia to map these resources.

The Conversation

The budget pledged $12.5 million for free menstrual products in Indigenous communities. Here’s why it’s needed

Last week’s federal budget committed A$12.5 million over four years to deliver tampons, pads and other period care products to people who menstruate in rural and remote Indigenous communities.

The Conversation

Green iron to go ahead under future industries push

Production tax incentives unveiled in the federal budget are expected to benefit places like Gladstone and help them secure a spot in the net zero economy.

AAP

The budget has earmarked $8.6 million for live music. Is it enough to save the flailing industry?

Leading music organisations have praised the federal budget for its investment in the live music sector.

The Conversation

There’s $110 million for Indigenous education in the budget. But where’s the evidence it will work?

The 2024 federal budget contains A$110 million for Indigenous education. This includes funding for various different organisations to represent and help Indigenous people as well as scholarships in a bid to close the gap between Indigenous and non-Indigenous learning and achievement.

The Conversation

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Newcastle Herald

Cost-shifting 101: a repeat lesson for local governments

Federal budget leaves country and regional councils, and their ratepayers, begging again

The Conversation

PrEP was earmarked $26m in the budget. What is it? Will it stop me getting HIV?

HIV prevention was allocated A$43.9 million over three years in this week’s federal budget. Some $26m of this is for “PrEP” for people without access to Medicare.

Newcastle Herald

Federal budget sets clear direction for Hunter's industrial diversification

Budget offers a solid foundation for the region's energy innovators

AAP

Dutton pledges to slash migration to fix housing crisis

Peter Dutton has laid out a plan to get Australia "back on track" in his budget response that would crack down on migration and international students.

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The Guardian - AU

Afternoon Update: federal budget hits and misses; controversial statue toppled; and the rise and fall of Ashley Madison

Coalition signals a fight on Future Made in Australia plan while environmentalists label budget ‘one of the worst in recent years’

AAP

'Transformative' funding music to the ears of orchestra

The Darwin Symphony Orchestra will be able to pay all of its principal musicians for the first time following a $1 million federal budget funding boost.

AAP

Car pollution cop to police automakers in Australia

A regulator will be established to track vehicle emissions and ensure automakers are meeting pollution targets, federal budget papers have revealed.

AAP

Budget shows no empathy for the bush: Littleproud

Nationals leader David Littleproud has slammed the federal budget but others are more optimistic about the government's vision for the future of the regions.

AAP

Big miners lead Australian shares higher after budget

Pathology chains have lost ground while major miners made gains following the federal budget, with the ASX200 overall finishing 0.4 per cent higher.

AAP

States query GST carve-up despite 'constructive' budget

The reviews are rolling in for the federal budget, with Australia's two most populous states publicly questioning the support they have received from Canberra.

AAP

'More work to do' to make Australia competitive

Business groups have called for more productivity measures but warned federal budget spending boosts to tackle cost-of-living pressures could fuel inflation.

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