This Month
Dutton’s housing fix ‘will worsen supply’
One of Australia’s biggest property developers says slashing permanent migration as a way to fix acute housing shortages will only exacerbate the problem.
RBA considers selling HQ as renovation blows out to $1.1b
The blowout, caused by large amounts of asbestos, makes the redevelopment of the RBA building one of the nation’s most expensive non-defence public works.
Peter Dutton’s migration and housing changes explained
The opposition leader says his changes to permanent migration and housing laws will help Australians by “restoring the dream of home ownership”. Will the changes be effective?
Dutton concedes homes sales to foreigners are ‘low’
Opposition Leader Peter Dutton has conceded only a tiny fraction of property sales in Australia are made by foreign residents, hours after releasing a major new population policy.
Jobless jump could unwind next month, economists say
Economists predict some of the lift in unemployment in April may unwind in May, amid broader signs the jobs market remains strong and is absorbing a surge in migrants.
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RBA says ‘no quick fix’ to house prices
RBA chief economist Sarah Hunter warns that undersupply of homes means house prices and rents will continue to rise as the market fails to keep pace with strong demand.
Unions to ramp up pay claims despite inflation slowdown
Unions want to make up for “lost ground” after years of cost-of-living pressure, despite Treasury forecasts that inflation could fall beneath 3 per cent by Christmas.
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‘Higher costs, more taxes’: Business warns budget could fuel inflation
Business has warned the third Chalmers budget could add to inflation, and urged the government to rein in spending to prevent a decade of deficits.
Treasury expects unemployment to climb to 4.5pc by this time next year
Sluggish hiring could lead cautious households already grappling with higher interest rates to save rather than spend the windfall from tax cuts.
NDIS spending blows out by $5.4b
The budget reveals government spending on the NDIS ballooned by another 21 per cent in 2023-24, with the scheme tipped to cost $61 billion by 2027.
Backpackers from China, India, Vietnam caught in migration crackdown
The government expects to halve migration levels by next year, with international students bearing the brunt of measures.
Chalmers rejects ‘political trick’ inflation reduction claim
Former RBA board member Warwick McKibbin levelled the claim ahead of Tuesday’s budget, while economists warned bill relief would only stoke consumer demand.
Budget handouts put interest rate cuts further out of reach
Economists have warned handouts that bring down bills will not rein in underlying inflation, undermining the government’s message that its budget will help the Reserve Bank.
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The little-known budget figure you should care about
The figure, known as the ‘table of truth’, cuts through the spin and shows how the treasurer’s saving and spending decisions affect the bottom line.
Coalition warns Labor over RBA board ‘sack and stack’
The implication is Labor would seek to appoint board members inclined to lower interest rates ahead of the federal election, risking the push to curb high inflation.
- Exclusive
- Interest rates
RBA board split in doubt as Libs dig in
The impasse between Jim Chalmers and Angus Taylor means the new RBA interest rate setting board will not be up and running by its planned start date of July 1.
Budget tips business investment to slow
The recovery in business investment is tipped to slow markedly in federal budget forecasts, as a cooling economy forces firms to reassess capital expenditure plans.
Families expected to stash extra cash from tax cuts
Retailers hoping income tax cuts will lift sales of non-essential goods are likely to be disappointed.
Coalition to oppose ‘sophisticated investor’ test overhaul
Labor is grappling with backlash from the start-up sector over calls to limit access to venture capital to investors worth more than $4.5 million.
Rising government spending is hurting the RBA’s inflation fight
The Australian economy is still operating at an unsustainably strong level despite a string of weak economic growth figures, due in part to public sector spending.