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The Latest Breaking News from Federal Budget

Interest on U.S. Government Debt Continues to Soar

According to Bloomberg analysis, estimated annualized interest payments on U.S. government debt climbed past $1 trillion at the end of October. That amount has doubled in the past 19 months and is equivalent to 15.9% of the entire Federal budget for fiscal year 2022. The increasing debt load may pressure...

Barchart

How the Federal Budget Deficit Doubled in a Single Year

It's not the first time that has happened, but there are key differences about what happened this year.

Reason

Balanced-budget plan unveiled by House Republicans - Roll Call

House Republicans released a long-delayed budget blueprint Tuesday that promises to bring the federal budget into balance over a decade.

Roll Call

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Under Multiple Budget Scenarios, the Government's Numbers Still Don't Add Up

Balanced federal budgets aren’t even considered as a possibility.

Reason

Why Did Joe Biden Stop Talking About the Deficit?

The federal budget deficit has exploded under Biden's watch, and he can no longer pretend otherwise.

Reason

Conservatives’ budget plan renews battle over seniors’ benefits

WASHINGTON — The largest bloc of House conservatives offered up a fiscal blueprint Wednesday that promises to balance the federal budget in seven years, make GOP tax cuts permanent and slash domestic spending.

Tribune News Service

Politics with Michelle Grattan: Labor's Julian Hill on employment, AI, Julian Assange and TikTok

The federal budget gave a much-needed, but very modest, increase to those on JobSeeker and associated payments. However, it didn’t address that other important issue of the unemployed: how to help as many JobSeekers as possible to get into work, whether full- or part-time.

The Conversation

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Electricity bills expected to surge despite budget tipping modest rise

Power bills in at least three states will rise by more than double the amount estimated in the federal budget.

The New Daily

Just 1 in 5 employees in the space industry are women. This lack of diversity is holding us back

This week, the Australian Space Summit is celebrating some of our nation’s strengths and achievements in the space sector. But it’s taking place under the shadow of significant cuts to space technology investment announced in last week’s federal budget.

The Conversation

Consumer confidence sinks following rate hike, budget

Consumers remain down in the dumps after the 2023/24 federal budget failed to meet the expectations of those under financial stress.

The New Daily

Government plans to use NDIS purchasing power to help save billions – but they shouldn't put products before people

Last week’s federal budget included a A$732.9 million investment to get the National Disability Insurance Scheme (NDIS) “back on track”. In the next four years, there are also plans for a $15.3 billion reduction in NDIS costs.

The Conversation

Budget 2023: New funding for workplaces, training and silicosis prevention

The 2023 federal budget contained a plethora of new spending aimed at improving workforce shortages across the nation.

The New Daily

Toowoomba carer in housing stress faces uncertain future despite federal budget welfare boost

Toowoomba's Petrina Haworth is finding it impossible secure a new rental home for herself and her 25-year-old daughter, who requires care, to the point she has filled a notebook with her list of rental inspections.

ABC News

GPs, bulk-billing and MyMedicare: The budget measures that may change how you see a doctor

Tuesday's federal budget included a $5.7 billion boost for general practice, but that's not all the budget had in store for primary health care. Let's take a look at everything that's been announced and what it could mean for you and your health.

ABC News

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The New Daily

Watch: Budget reply, Hayne sentencing, Deeming expelled

Watch: Opposition Leader Peter Dutton has used his Federal Budget reply speech to claim an increase in migration will only stoke inflation, and proposed

The New Daily

‘Insidious’ budget change will hit grocery prices, truck groups say

Farmers and trucking companies will face rising fees after this week's federal budget and may be forced to pass them on to consumers, groups warn.

ABC News

Peter Dutton proposes letting JobSeeker recipients work more without affecting payments instead of $40 increase

Opposition Leader Peter Dutton says JobSeeker recipients should be allowed to work more hours without it eating into their payments, as he responds to the federal budget.

ABC News

Gulf of Carpentaria towns fear another flood as urgent funding pleas ignored in federal budget

Leaders in one of the country's most disadvantaged communities fear their towns will die if bridges are not raised before the next wet season.

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ABC News

Food banks worried more people will go to bed hungry after missing out on budget funding

Food charities are struggling to keep their pantries stocked with more hungry mouths to feed than ever before, but there was no joy in this week's federal budget.

The New Daily

Watch: Budget debate heats up, Housing fund fallout, Wiggles NRL move

Watch: Peter Dutton is preparing his Federal Budget reply speech, but not before taking another swipe at Labor's 'inflationary' Budget. Meanwhile, a

The Guardian - AU

Indigenous groups say ‘mixed bag’ federal budget gives boost to health but neglects legal services

Senator Lidia Thorpe accuses Labor of splashing money on ‘toothless’ voice to parliament at expense of other services

Newcastle Herald

Budget signals important role for Hunter in ambitious renewable energy agenda

Professor Roberta Ryan says the federal budget will support the Hunter across three key transformative challenges.

ABC News

Federal budget boost could be a 'game-changer' for Australian film sector, industry says

The federal government's plan to attract more international film and television productions to Australia is being applauded by the sector.

ABC News

Federal budget projects a shift in aged care, which promises to save Australia billions

Older Australians are increasingly opting to receive care at home, rather than in residential aged care, a shift that the federal government projects will save billions of dollars.

The Guardian - AU

Australia’s first national space mission up in the air after federal budget cuts

Industry says the Albanese government is ‘defunding space programs without explanation’

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