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Latest news: Economic Policy

Budget spending stokes fears of further rate rise pain

Budget spending stokes fears of further rate rise pain

An extra $114 billion in federal government spending will be directed off-budget as the treasurer claims a "historically responsible" fiscal update.

'These geniuses': PM's generational housing gamble

'These geniuses': PM's generational housing gamble

'These geniuses': PM's generational housing gamble

'These geniuses': PM's generational housing gamble

A fight is brewing over housing policy and tax after the federal government handed down a controversial budget, paring back concessions for landlords.

Labor faces parliament challenge to budget tax reform

Labor faces parliament challenge to budget tax reform

Labor faces parliament challenge to budget tax reform

Labor faces parliament challenge to budget tax reform

The treasurer will need to get the Greens or the coalition on board in order to make sweeping changes in his fifth budget a reality.

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Budget lacks energy for big renewable project reforms

Budget lacks energy for big renewable project reforms

Households with solar panels and batteries could benefit from changes in the budget but big renewable energy changes were overlooked.

Business sector urges Canberra to tackle red-tape cuts

Business sector urges Canberra to tackle red-tape cuts

A powerful alliance of business groups has given the federal budget a tick but says Labor needs to take bigger steps to rid the sector of costly red tape.

Canberra embraces AI data crunch for medicines to tax

Canberra embraces AI data crunch for medicines to tax

Artificial intelligence tools will be used in unexpected ways by the government, from finding tax-return mistakes to assessing environmental projects.

Targets and tests firm up for migrants under budget

Targets and tests firm up for migrants under budget

A push for fewer, more skilled migrants and a more robust migration system has been outlined in the 2026/27 federal budget.

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Aussies reliant on crucial medicines to save on scripts

Aussies reliant on crucial medicines to save on scripts

Aussies reliant on crucial medicines to save on scripts

Aussies reliant on crucial medicines to save on scripts

More life-saving medications will be subsidised by the government as the federal budget outlines extra funding for price-controlled drugs.

Bleak outlook for national economy if Iran war drags on

Bleak outlook for national economy if Iran war drags on

Bleak outlook for national economy if Iran war drags on

Bleak outlook for national economy if Iran war drags on

Higher budget spending won't help the Reserve Bank, economists warn, as a prolonged war in the Middle East is forecast to push inflation above seven per cent.

Pressured media sector boosted by broadcast tax cuts

Pressured media sector boosted by broadcast tax cuts

Pressured media sector boosted by broadcast tax cuts

Pressured media sector boosted by broadcast tax cuts

Television and radio stations will pay lower tax bills for the next two years, while news outlets will get funding increases to navigate a changing industry.

Small beer: revenue from gas export tax set to plummet

Small beer: revenue from gas export tax set to plummet

Small beer: revenue from gas export tax set to plummet

Small beer: revenue from gas export tax set to plummet

The petroleum resource rent tax is projected to raise $1.85 billion less in revenue than the beer excise by 2029/30, heaping pressure on Labor to tweak the tax.

Electric car owners dodge road charge but pay more tax

Electric car owners dodge road charge but pay more tax

Electric car owners dodge road charge but pay more tax

Electric car owners dodge road charge but pay more tax

Electric vehicle drivers will not have to pay an annual fee to use Australia's road network under budget changes but a tax discount will be wound back.

Pacific nations secure more funding for climate and aid

Pacific nations secure more funding for climate and aid

Pacific nations secure more funding for climate and aid

Pacific nations secure more funding for climate and aid

Australia will provide a range of aid measures to neighbours in the Pacific as the region prepares to help host a major climate change summit.

Last-minute budget pitch to 'level field' for young

Last-minute budget pitch to 'level field' for young

Last-minute budget pitch to 'level field' for young

Last-minute budget pitch to 'level field' for young

Labor has made a pre-budget pitch to young Australians on social media as the government shakes up the tax system to help more people buy homes.

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'Time has come': Shorten backs budget's broken promise

After unsuccessfully campaigning on negative gearing changes while Labor leader, Bill Shorten says he would welcome a policy shift in the federal budget.

Calls for options in budget to ease pressure on parents

Parents are hoping the federal budget will include more choice, transparency and reform when it comes to child care by providing more subsidy options.

'Need to do more': Labor to lift lid on housing reform

Australians are under financial pressure and the government cannot "just sit back", the prime minister says, as his treasurer prepares to hand down the budget.

Budget boost to tackle growing ranks of homeless youth

Helping homeless young Australians to find a place to live is the aim of a $60 million federal budget measure to even the odds of renting a room.

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Budget builds up to shift for 'broken' housing market

An extra $2 billion will be pledged in the budget to build sewerage and roads for new homes as the treasurer frames housing policy as a remedy to populism.

'Get back to work': backlash over bureaucrat job freeze

A would-be premier has chided public servants protesting her 10-year hiring freeze plan, insisting it won't lead to sackings or compromise service delivery.

'Spendthrift' sandgropers trigger GST allowance critics

The scale of cash handouts in the Western Australian budget has infuriated some economists, who argue they are provocatively inflationary.

Fuel bonus as WA posts eighth straight budget surplus

More than $1 billion in cost-of-living relief will be shared in Western Australia as the state capitalises on an iron ore uplift to bank another budget surplus.

What Avril Lavigne can teach Chalmers ahead of budget

The best thing the federal government can do to boost productivity in the budget is to make things less complicated for businesses, a top economist says.

More cops, jail guards as territory budget fights crime

The NT budget offers no "lollies and sweets" but it cements the government's tough-on-crime approach, its architects say.

Inflation, growth, rates all hinge on end to conflict

The central bank, which raised interest rates on Tuesday, has released its latest set of quarterly economic forecasts and the news is not great.

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