In short: Harvest Trail Services and Harvest Trail Information Service were cut in the May federal budget, saving $47.3 million over the next five years. Backpackers say as more of them turn to job websites and social media, exploitation will increase due to fewer background checks. What’s next? The government is directing jobseekers to the...
Tag: federal budget
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The world is retreating from globalisation. What does it mean for us?
The evidence is everywhere, the trend clear. From riots among farmers from Europe to India, to a shift towards the political extremes across the developed world and ongoing conflict in the Middle East and Africa, political unrest appears to be on the rise. In the US, once the bastion of free market enterprise, a man...
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After a huge week of economic news, where did we land on the direction of interest rates?
It’s been a big week for economic and business news. Treasurer Jim Chalmers handed down his third budget on Tuesday, and the Bureau of Statistics published wages growth data on Wednesday and the unemployment rate on Thursday. While the forecasters were busy updating their spreadsheets, each of these data releases tell us something about Australia’s...
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Taxpayers warned the public may have to prop up Australia Post
In short: Budget documents say there is a risk Australia Post will need financial assistance from taxpayers in the future Australia Post most recently posted a profit, but its long term outlook is more uncertain? What’s next? Australia Post is undergoing a modernisation plan to adjust to a decline in the use of letters The...
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Australia’s housing crisis in 10 graphs, from the federal budget
The Albanese government knows Australia has a housing problem. It says the country is suffering from “historic underinvestment” in housing that’s created a significant supply shortage. In its 2024-25 budget, it has dedicated an entire chapter to the crisis — a sign of how seriously the issue is considered. “Australia’s housing system has been unable...
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Is this the end of small government?
The government is getting back into business. In a move that has horrified the economic purists and overturned half a century of developed nation dogma, Australia has joined the United States and Europe in winding back the clock to an industrial future. It hasn’t exactly come as a surprise. Like almost every other announcement in...
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What’s in the budget for businesses? A lot, for those who can engineer a ‘Future Made in Australia’
In short: The government has revealed $22.7 billion of long-term spending on clean energy and strategic industries as part of its Future Made in Australia plan. Small businesses will see a one-year extension of the instant asset write-off for items under $20,000 and a $325 energy bill rebate. What’s next? Much of the support for critical...
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Treasurer reveals $9.3b surplus while offering power bill relief, boosting rent assistance — as it happened
Consumer affairs reporter Michael Atkin has taken a look at what’s in the budget to help fight against scams, which are costing Australians more and more each year. A record number of scams hit Aussies hard last year, making paying the bills even harder for people struggling with the cost of living. Despite better efforts to...
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Skipping meals and working 80-hour weeks: Australians are holding down multiple jobs to ease cost-of-living pressures
In short: More than 970,000 Australians now work multiple jobs to make ends meet. The rate of people taking on more than one job was higher for women compared with men, according to the ABS. What’s next? One think tank is calling for changes to be made to the way people with more than one job are...
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What’s in the budget? Here’s every announcement that you’ll hear about later today
Treasurer Jim Chalmers will hand down his third budget on Tuesday night, but has been tempering expectations for weeks in the lead-up, warning Australians not to expect a “cash splash”. Inflation remains a key challenge for the government, and we already have a pretty good idea of how Mr Chalmers plans to use his budget to...
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Australia is set for a $9.3 billion surplus, but deficits for next three financial years
In short: The federal budget will reveal a $9.3 billion surplus for the 2023-24 financial year, which ends next month. The next three years will all have larger deficits than expected in December. What’s next? The budget will be handed down this evening. Today’s federal budget will deliver a $9.3 billion surplus for the current financial year...
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The government’s future gas policy first must ensure Australia’s future gas needs
Almost immediately after Resources Minister Madeleine King unveiled her plans for an expansion of our gas industry, the sniping began, the battle lines already drawn. On one side is the federal government, with seemingly conflicting ideals of reducing carbon emissions while kickstarting a rebuild of our manufacturing sector, arguing that more gas is needed for...