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The Latest Breaking News on Interest, cost blowouts threaten SA budget surplus

Interest, cost blowouts threaten SA budget surplus

High inflation, rising interest rates and cost overruns may wipe out the South Australian government's projected budget surplus, the auditor-general has found.

AAP

We could make most Australians richer and still save billions – it’s not too late to fix the Stage 3 tax cuts

The Albanese government is about to have to make a really important decision.

The Conversation

NAB customers cut spending, interest rate peak in sight

National Australia Bank has been looking at how its business and personal customers are dealing with rising interest rates, and the news isn't too bad.

AAP

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Scrap stage-three tax cuts to fight inflation rather than cut infrastructure funding, Queensland says

Deputy premier Steven Miles says it’s ‘too late’ to cancel projects and any effect on demand is likely to be years away

The Guardian - AU

Net zero policy to draw on national strengths: Chalmers

Critical minerals, battery manufacturing, renewable hydrogen and green metals have been flagged as net zero industry priorities by the federal treasurer.

AAP

Treasurer, opposition trade blows on economy

Australia's major parties are going tit-for-tat on economic credibility, with Treasurer Jim Chalmers suggesting the opposition misrepresented tax data.

AAP

Australia’s taxes ‘inadequate’ for ‘adequate services’, former secretary of finance warns

Michael Keating to call for revenue review at Australia Institute summit as Labor provides update on multinational tax avoidance

The Guardian - AU

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Voice silencing shifts focus to cost of living relief

Parliamentarians from both sides of politics say cost of living pressures and frail household budgets will be their focus with the referendum campaign finished.

AAP

Stage-three tax cuts: overhaul could save budget $130bn and deliver bigger savings to most workers

Australia Institute says its plan would let government lift jobseeker payment while still improving budget bottom line

The Guardian - AU

Job services must shift from merely clipping tickets to actually changing lives

Let’s hope Labor’s new model overcomes the barriers to work and ceases the endless churn of the unemployed

The Guardian - AU

Australia's government posts $14.2 billion budget surplus after 15 years in the red

Australia’s government has reported a $14.2 billion budget surplus for the last fiscal year

The Independent UK

Budget surplus up to $22bn thanks to strong jobs market and higher commodities prices

Despite improved short-term outlook, Jim Chalmers says structural pressures are ‘intensifying rather than easing’

The Guardian - AU

Labor’s first NSW budget in a decade will provide ‘practical assistance’, treasurer says

A $7bn shortfall has been forecast this financial year, but Daniel Mookhey says any cuts to be made will be in areas that ‘don’t affect people’

The Guardian - AU

We urgently need $100bn for renewable energy. But call it statecraft, not 'industry policy'

This week, a diverse group of organisations called on the Australian federal government to establish a A$100 billion, ten-year policy package to turbocharge Australia’s green energy transition.

The Conversation

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The Conversation

We're in a per capita recession as Chalmers says GDP 'steady in the face of pressure'

Australia’s economy grew a mere 0.4% in the June quarter according to figures released by the Bureau of Statistics on Wednesday, a performance Treasurer Jim Chalmers describes as “steady in the face of unrelenting pressure”.

The Guardian - AU

Child detention changes described as state’s ‘darkest hours’ – as it happened

Government’s steadfast defence of new laws continues to draw harsh criticism from the opposition

The Guardian - AU

Australia’s growth to slow as workforce participation falls over coming decades

Treasurer Jim Chalmers says the government remains optimistic about the future despite big challenges detailed in latest intergenerational report

The Guardian - AU

Treasurer releases intergenerational report – as it happened

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The Guardian - AU

If you are really worried about the next generation, the only thing that matters is climate change

The only thing the current generation absolutely needs to do for the next generation is stop burning fossil fuels as quickly as possible

The Conversation

Intergenerational report to warn of slow growth and pressures on revenue

New extracts released ahead of the government’s Intergenerational Report show it warns Australia’s economy will grow more slowly in the coming 40 years than in previous decades.

The Guardian - AU

Intergenerational report reveals spending in key areas to blow out to half Australian budget by 2063

Health, aged care, NDIS, defence and interest payments will grow from one-third of government spending over next four decades

The Guardian - AU

Voice needed for change, Davis says – as it happened

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The Conversation

This year's surplus will be bigger than the $4.2 billion projected at budget time: Chalmers

The surplus for the financial year that ends Friday will be larger than the $4.2 billion forecast in the budget, Treasurer Jim Chalmers will say on Wednesday.

The Canberra Times

'Focus is on health, housing and cost-of-living', Barr says

But the government won't speed up tax reform despite a surplus.

The Canberra Times

ACT budget puts surplus on the horizon as govt posts $442m deficit

Higher-than-expected revenue has helped improve the territory's budget bottom line.

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