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Latest news: Economy

Major parties to face pressure on tackling tax reform

Major parties to face pressure on tackling tax reform

Australians facing a cost-of-living crisis want to see tax reform but an independent senator says major parties are unwilling to have the conversation.

Report to shine light on future economic shifts

Report to shine light on future economic shifts

Report to shine light on future economic shifts

Report to shine light on future economic shifts

Treasurer Jim Chalmers will soon release the government's response to the latest Intergenerational Report, a guide for Australia's future economic outlook.

Australia's answer to Silicon Valley are tech clusters

Australia's answer to Silicon Valley are tech clusters

Australia's answer to Silicon Valley are tech clusters

Australia's answer to Silicon Valley are tech clusters

Top tech innovators are scattered through 96 "tech clusters", a report reveals, including four major hubs expected to create the jobs of tomorrow.

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Bitter news for beer lovers as tax hits pints and kegs

Bitter news for beer lovers as tax hits pints and kegs

Australia has the third highest beer tax on the world and brewers want the federal government to stop the "out of control" increases.

Stubborn inflation hangs over challenging rates call

Stubborn inflation hangs over challenging rates call

The end of the interest rate hikes may be in sight but the next cash rate call won't be an easy decision, with high inflation proving hard to knock over.

Women, young people wanted to fill 70,000 rail jobs gap

Women, young people wanted to fill 70,000 rail jobs gap

Australia will need thousands more people working on rail over the next five years, with people holding digital skills, women and young workers in high demand.

Cooling inflation could keep interest rates on ice

Cooling inflation could keep interest rates on ice

A solid slowdown in the inflation rate could be enough to convince the Reserve Bank to keep interest rates on hold for a second consecutive month.

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Tenants whacked with biggest rent hike in 35 years

Tenants whacked with biggest rent hike in 35 years

Tenants whacked with biggest rent hike in 35 years

Tenants whacked with biggest rent hike in 35 years

The rental market is recording solid price increases as demand for housing outstrips supply in most parts of Australia.

Budget's $20b sugar hit won't be shared with households

Budget's $20b sugar hit won't be shared with households

Budget's $20b sugar hit won't be shared with households

Budget's $20b sugar hit won't be shared with households

Households dealing with cost-of-living pressures are unlikely to get any extra relief despite a budget surplus shaping up to be much larger than forecast.

Aussies live longer and prosper but face money worries

Aussies live longer and prosper but face money worries

Aussies live longer and prosper but face money worries

Aussies live longer and prosper but face money worries

Life expectancy and job satisfaction in Australia have improved but a report tracking the nation's wellbeing was less positive on other key measures.

Chalmers meets with Chinese counterpart at G20 summit

Chalmers meets with Chinese counterpart at G20 summit

Chalmers meets with Chinese counterpart at G20 summit

Chalmers meets with Chinese counterpart at G20 summit

Treasurer Jim Chalmers has met with his Chinese counterpart Liu Kun, further thawing the diplomatic freeze and stabilising the two nations' relationship.

Coalition to target 'Albo-nomics' after Fadden win

Coalition to target 'Albo-nomics' after Fadden win

Coalition to target 'Albo-nomics' after Fadden win

Coalition to target 'Albo-nomics' after Fadden win

Following an LNP win in a Queensland by-election, Deputy Liberal leader Sussan Ley will spearhead a coalition attack on Labor's economic management.

Australia's trade surplus swells to $11.8 billion

Australia's trade surplus swells to $11.8 billion

Australia's trade surplus swells to $11.8 billion

Australia's trade surplus swells to $11.8 billion

Another strong month for commodity exports has fed into a robust period for Australia's international trade.

Porter Davis creditor talks fail to answer debt queries

Porter Davis creditor talks fail to answer debt queries

Porter Davis creditor talks fail to answer debt queries

Porter Davis creditor talks fail to answer debt queries

Representatives of hundreds of creditors owed millions of dollars by builder Porter Davis have met liquidators for an update on getting their money back.

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Wider screening for rare health conditions in babies

Newborns will be tested for a wider range of rare health conditions in a promised overhaul that also seeks to iron out differences in screening between states.

Minimum wage not enough to get by: Anglicare

A full-time minimum wage worker has $57 left after essential weekly expenses, according to a new report by Anglicare Australia.

Promise for renters' rights to be on national agenda

As national cabinet prepares to consider how to improve renters' rights, the federal government has ruled out price caps after its housing fund was deferred.

Proposal to tighten 'inadequate' foreign bribery laws

Federal Attorney-General Mark Dreyfus has proposed fixing Australia's "grossly inadequate" foreign bribery laws to increase deterrents and punishments.

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Steep rate rises cleared for NSW councils

Some NSW councils will be able to increase rates this year by more than a third as many local governments struggle with financial pressures.

Executives' pay more than double the rate of inflation

Australian executives had pay rises amounting to more than double the rate of inflation in the past year due to a tight job market at the top end of town.

Renewables relief deal to help curb power price surges

The promise of cheaper energy bills in the future could be too late for many Australian households concerned about powering their homes this winter.

Inflation-beating pay rises can't be widespread: RBA

RBA governor Philip Lowe says the lowest-paid workers need to be insulated from high inflation but a surge in wages across the board could be a problem.

Drier conditions to drive down agricultural production

Winter crop production is expected to fall more than 30 per cent this year, the agency responsible for agricultural science and economic research warns.

Vic debt to top $305b in a decade, budget office warns

The independent Parliamentary Budget Office has predicted Victoria's net debt will hit $305 billion if a government repayment plan is not implemented.

Consumers warned high price of fresh food here to stay

Fresh food suppliers say the high cost of energy and labour and the impact of supply chain disruptions is keeping fresh produce prices high for consumers.

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