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Latest news: Economy, Business and Finance

Mind the gap: Indigenous funding in focus after voice

Mind the gap: Indigenous funding in focus after voice

Closing the health, justice and education gap between Indigenous and non-Indigenous Australians has become a budget priority after the failed referendum.

Steaming toward $1 trillion in gross debt in 2025/26

Steaming toward $1 trillion in gross debt in 2025/26

Steaming toward $1 trillion in gross debt in 2025/26

Steaming toward $1 trillion in gross debt in 2025/26

Australia was expected to hit $1 trillion in gross debt this year under the previous government, but Jim Chalmers says the liability will be $152 billion lower.

Submarines sink more taxpayer money as costs climb

Submarines sink more taxpayer money as costs climb

Submarines sink more taxpayer money as costs climb

Submarines sink more taxpayer money as costs climb

The bill for Australia's acquisition of nuclear-powered submarines continues to climb as millions of dollars is sunk into training the skilled workers required.

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Women offered support on path out of domestic violence

Women offered support on path out of domestic violence

Women escaping domestic violence will receive stronger health care, legal services and financial support to address the 'national shame'.

Farmers get drought and climate relief amid export ban

Farmers get drought and climate relief amid export ban

Fury over a ban on live sheep export by sea and a biosecurity levy may be eased by a series of packages to manage drought and boost the agriculture workforce.

Rural health still on life support after modest budget

Rural health still on life support after modest budget

Rural communities say healthcare is at the heart of prosperity in the bush as populations grow. But the federal budget includes very few new health measures.

Value-added: back to a future made in Australia's mines

Value-added: back to a future made in Australia's mines

Mining and refining is central to the budget's plan for Australia to hold its own in a global economy beset by fierce competition for sovereign production.

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Relief less than hoped for 'squeezed' small businesses

Relief less than hoped for 'squeezed' small businesses

Relief less than hoped for 'squeezed' small businesses

Relief less than hoped for 'squeezed' small businesses

Power bill and tax relief will help small businesses overcome rising costs and slowing consumer spending, despite no increase to instant asset write-offs.

Workers to enjoy real wages growth, despite inflation

Workers to enjoy real wages growth, despite inflation

Workers to enjoy real wages growth, despite inflation

Workers to enjoy real wages growth, despite inflation

Australia's labour market is proving remarkably resilient, despite slowing economic growth, meaning workers can expect wages growth to outstrip inflation.

Households to get energy bill relief, rent help goes up

Households to get energy bill relief, rent help goes up

Households to get energy bill relief, rent help goes up

Households to get energy bill relief, rent help goes up

Energy bill relief and more rent assistance will form part of a cost-of-living package in the federal budget to help Australians struggling to makes ends meet.

No 'glamour' in Territory's crime-busting budget

No 'glamour' in Territory's crime-busting budget

No 'glamour' in Territory's crime-busting budget

No 'glamour' in Territory's crime-busting budget

The Northern Territory has unveiled a crime-fighting budget, with cash also splashed to improve schools before an election in August.

Traditional owners sign historic deal with mining firm

Traditional owners sign historic deal with mining firm

Traditional owners sign historic deal with mining firm

Traditional owners sign historic deal with mining firm

A First Nations group in Victoria have signed an agreement with a Canadian mining company for compensation from a gold mine on their traditional land.

Government defends faster inflation fall than RBA

Government defends faster inflation fall than RBA

Government defends faster inflation fall than RBA

Government defends faster inflation fall than RBA

Inflation will be back within the Reserve Bank’s target range a year earlier than the bank has predicted, based on government budget figures.

Spending takes a hit as household budgets stretched

Spending takes a hit as household budgets stretched

Spending takes a hit as household budgets stretched

Spending takes a hit as household budgets stretched

Higher interest rates and cost-of-living pressures have been weighing on household spending and the retail sector.

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Industry rebuffs calls to slash fossil fuel subsidies

Fossil fuel subsides are increasing and undermining Australia's climate efforts, a think tank says, but energy producers insist they're paying plenty of tax.

Consumers miss out on utilities' maintenance windfall

The utilities sector is expected to have the slowest growth in maintenance spending as higher-cost fossil fuel generators are replaced by renewable energy.

Treasurer promises more relief alongside tax cuts

With long-awaited stage three tax cuts set to drive cost of living relief in the budget, Treasurer Jim Chalmers has given an assurance more help is coming.

Wages, jobs updates to come with budget week

As well as a federal budget, Australia will get its quarterly check-up on worker wages, business surveys and monthly jobs figures.

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Desktop industrial warriors battle for sustainability

Consumers could get a tech boost as industrial intelligence software helps to lower energy and water use, and produce higher quality goods.

Chalmers threads budget needle with difficult economy

Treasurer Jim Chalmers is confident he can beat inflation in the near term while gearing up for growth in a low-carbon world in his government's third budget.

New resources tax not a 'fair return' for Australians

A parliamentary inquiry has ruled in favour of offshore petroleum tax changes but critics say Australians will still not get a fair return on their resources.

'Nation-leading' WA budget splurge fired by big surplus

WA has rolled out a "nation-leading" state budget, with billions of dollars to help families, boost housing supply and diversify its mining-led economy.

Record cost-of-living relief for those 'doing it tough'

The WA Labor government has rolled out a range of measures in the state budget to help families struggling with rising living costs and to boost housing supply.

Land for new industry to power the west's next bonanza

Western Australia's budget has unlocked land and slashed green tape to win the lion's share of investment in new industry but iron ore is still top of the heap.

Jobs boom beats expectations but weakness incoming

Australia's workforce is expected to keep getting bigger even as the economy slows, forecasting excerpts from the upcoming federal budget show.

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