The Reserve Bank could deliver a rate cut by Christmas if fresh inflation forecasts from the federal budget prove correct, but billions of dollars of additional spending unveiled by Treasurer Jim Chalmers on Tuesday evening could risk stoking price pressures. Updated inflation forecasts show consumer price growth could return withinContinue Reading
Inflation could return to the Reserve Bank’s target band by the end of 2024, Tuesday’s federal budget will show, a full year ahead of the Reserve Bank’s own forecasts which predict a resurgence in price pressures. In positive news for cash strapped households, Treasurer Jim Chalmers third budget will predictContinue Reading
Treasurer Jim Chalmers is facing criticism for remarks made in an interview about the cost-of-living crisis and painful pressures facing millions of Australians. Speaking with veteran political commentator Michelle Grattan for her podcast on The Conversation, Dr Chalmers implied those struggling will have to wait until next year for relief.Continue Reading
Australians hoping for a Christmas present from the government will be left wanting, despite a bumper tax take cushioning the budget bottom line. Treasurer Jim Chalmers celebrated the release of the Mid-Year Economic and Fiscal Outlook on Wednesday, announcing the budget deficit has been slashed to a razor thin $1.1bn.Continue Reading
New spending measures to help struggling households have been shunned in favour of fixing the budget bottom line as Treasurer Jim Chalmers looks to bank soaring government tax collections instead. The mid-year budget update, to be released on Wednesday, is expected to show 92 per cent of revenue upgrades overContinue Reading
Labor Minister Bill Shorten has gone head-to-head with Bridget McKenzie in a bizarre televised debate over cost-of-living and budget spending. Treasurer Jim Chalmers will hand down his mid-year budget on Wednesday, announcing $10bn in cuts and spending changes to curb high inflation and living pressures. Government Services Minister Bill ShortenContinue Reading