The recent federal budget announcement from Treasurer Jim Chalmers has promised a $14.6 billion centrepiece of cost-of-living relief, with the aim of helping with power bills, out-of-pocket health costs, supporting vulnerable Australians, creating affordable housing, and boosting wages. However, not all Australians will benefit equally. This guide breaks down whatContinue Reading
Young people, students and renters will be given a boost as part of the government’s $14.6bn cost-of-living package to be unveiled in Tuesday night’s budget. Treasurer Jim Chalmers will detail additional assistance for renters on the Commonwealth Rent Assistance program, as well as increases to the base rate payments ofContinue Reading
Hello and welcome to our budget live blog. Prime Minister Anthony Albanese and Treasurer Jim Chalmers will hand down their second budget tonight, with Labor on the cusp of delivering country’s first surplus in 15 years. The turnaround has been driven by high commodity prices, a strong jobs market andContinue Reading
Labor would set a dangerous precedent by creating two classes of welfare recipients if it increases JobSeeker only for Australians aged over 55, a leading economist has warned. Grattan Institute chief executive officer Danielle Wood said she understood the federal government’s desire to keep any welfare payment increases “modest” givenContinue Reading
Prime Minister Anthony Albanese and Treasurer Jim Chalmers will hand down their second budget on May 9, with Labor warning of “incredibly weak” economic growth over the next five years. Mr Chalmers this month said the May budget would have three key priorities — cost-of-living relief, growing the economy andContinue Reading
The Prime Minister warned Australia was not immune from the global economic risk of recession as the latest rate rise puts more pressure on households. The Reserve Bank put rates up for a ninth consecutive time on Tuesday, and issued a warning that more rises were to come as aContinue Reading
Treasurer Jim Chalmers has reaffirmed Labor’s commitment to stage three tax cuts in the new year as the nation’s cost of living crisis continues. Mr Chalmers flagged the Albanese government’s position on the tax plan remained firm. “Our position on the tax cuts hasn’t changed,” he told reporters on Monday.Continue Reading