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Latest news: Government Debt

Chalmers spins battery blowout into budget savings

Chalmers spins battery blowout into budget savings

Clever accounting has been used by the treasurer to claim the government's policy decisions improved the budget bottom line for the first time in eight years.

US flight cancellations top 2100 due to shutdown

US flight cancellations top 2100 due to shutdown

US flight cancellations top 2100 due to shutdown

US flight cancellations top 2100 due to shutdown

Just over 2100 flights have been cancelled within, into, or out of the United States, according to FlightAware, a website that tracks air travel disruptions.

Trump uses government shutdown to dole out revenge

Trump uses government shutdown to dole out revenge

Trump uses government shutdown to dole out revenge

Trump uses government shutdown to dole out revenge

President Donald Trump is mulling “temporary or permanent” spending cuts that could set up a lose-lose dynamic for Democratic politicians.

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Credit rating downgrade cost unknown for debt-hit state

Credit rating downgrade cost unknown for debt-hit state

No research has been done on how much interest repayments on spiralling state debt would soar from a possible credit rating downgrade.

Debt piles up as public service faces $3b budget cut

Debt piles up as public service faces $3b budget cut

Taxpayers are set to foot the bill as interest on debt eats a $29-million-a-day hole in a state budget, despite public service job cuts and higher tax revenue.

US debt gloom looms as Aussie shares break winning run

US debt gloom looms as Aussie shares break winning run

The Australian share market is down as concerns about spiralling US debt weighed on investor sentiment as eyes turn to the RBA's call on interest rates.

Market turmoil could stoke inflation: Future Fund

Market turmoil could stoke inflation: Future Fund

The Future Fund has outperformed the broader market and its own target but its managers warn market uncertainty could lift bond yields and reignite inflation.

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No respite from tax burden on younger workers in budget

No respite from tax burden on younger workers in budget

No respite from tax burden on younger workers in budget

No respite from tax burden on younger workers in budget

Young income earners will be increasingly called upon to fund rising public spending unless structural tax reforms are made in the next term of government.

Labor set for budget boost thanks to higher tax take

Labor set for budget boost thanks to higher tax take

Labor set for budget boost thanks to higher tax take

Labor set for budget boost thanks to higher tax take

Australia's bottom line will be $11 billion better off, if the government releases a budget before the election, a leading economist predicts.

Coalition, Labor miss the mark on $347b spending claim

Coalition, Labor miss the mark on $347b spending claim

Coalition, Labor miss the mark on $347b spending claim

Coalition, Labor miss the mark on $347b spending claim

The opposition's claim Labor has added $350 billion in spending omits the impact of inflation, while Labor's response misconstrues the coalition's planned cuts.

Lift-off for new Rex sale after $50m taxpayer lifeline

Lift-off for new Rex sale after $50m taxpayer lifeline

Lift-off for new Rex sale after $50m taxpayer lifeline

Lift-off for new Rex sale after $50m taxpayer lifeline

Taxpayers will fork out a $50 million debt lifeline to Rex, with the federal government stepping in for a second bid to sell the embattled airline.

Financial watchdog warns of structural budget problems

Financial watchdog warns of structural budget problems

Financial watchdog warns of structural budget problems

Financial watchdog warns of structural budget problems

Almost one of every $10 raised by the Victorian government is set to be spent paying down debt within four years as interest expenses explode.

Pacific finance needs top $2b as storms hit, seas rise

Pacific finance needs top $2b as storms hit, seas rise

Pacific finance needs top $2b as storms hit, seas rise

Pacific finance needs top $2b as storms hit, seas rise

Pacific Island nations need climate finance to top $2 billion every year in addition to existing official aid, experts warn the international climate summit.

Real-time spending tracker plan for growing state debt

Real-time spending tracker plan for growing state debt

Real-time spending tracker plan for growing state debt

Real-time spending tracker plan for growing state debt

Victoria's opposition is spruiking a financial integrity plan featuring an online public spending tracker and intergenerational report to tackle state debt.

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Govt vows to rein in NT debt as it soars above $11b

The Northern Territory government has inherited a strengthening economy but "pet projects" and department overspends could cause debt to blow out.

Liberals float revival of contentious toll road project

Victorian Opposition Leader John Pesutto is eyeing a revival of plans to build an underground road tunnel to connect Melbourne's Eastern Freeway to CityLink.

LNP drum up support after dancing around costings

The Queensland opposition has drummed up interest for its youth crime prevention measures after being accused of dancing around costings ahead of the election.

War of words over inflation as national debt dives

Australia lags behind western nations in tackling inflation, the shadow treasurer says, as the Reserve Bank mulls whether to lower interest rates.

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House sales fall cancels out Victoria's COVID tax take

Stamp duty revenue has taken a $506 million nosedive in Victoria as house sales and prices cooled amid rising interest rates, a state budget update says.

'Choked on my Weeties': Pallas dismisses Vic debt sum

Treasurer Tim Pallas is confident a credit rating downgrade isn't on the horizon for Victoria despite a major global agency's debt forecast.

Public service super pay delay to add $882m in net debt

The Victorian government has been accused of accounting tricks after an analysis forecast net debt would rise $882m over delaying superannuation payments.

Debt ceiling deal ready for Congress vote: Biden

US President Joe Biden has urged Congress to pass the tentative debt ceiling deal he reached with Republican House Speaker Kevin McCarthy.

Biden, McCarthy reach tentative US debt ceiling deal

US Democratic President Joe Biden and Republican House Speaker Kevin McCarthy have reached a tentative deal to raise America's debt ceiling.

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