This Month
A Labor prodigy’s fast rise – but does he bleed enough for the voters?
Andrew Charlton has the economic credentials, the money, the networks and momentum. All eyes are on how far the long-term rival of Jim Chalmers can go.
Federal borrowing to top states as $1 trillion debt milestone looms
The federal government will borrow more money than the states this year for the first time since the pandemic, heaping more pressure on Treasurer Jim Chalmers.
Banks ‘at risk’ from superannuation cyberattacks
In a briefing to the government, APRA says cyberattacks on super funds will increase, and future shocks to the $4.1 trillion sector could spill over to the banks.
Why OpenAI’s top economist gets ChatGPT to check his meals
Ronnie Chatterji says the use cases for ChatGPT go well beyond work and study, including as a diet and fitness coach.
OpenAI wants AI tax breaks, promises $115b annual windfall
OpenAI chief economist Ronnie Chatterji has conducted a whirlwind set of meetings in Canberra as the company prepares to launch an AI blueprint for Australia.
June
Capping NDIS growth at 8pc not enough, government warned
The cost of the NDIS has doubled since 2021 due to a surge in the number of children joining the scheme.
Stop blaming pandemic for state government debt binge: S&P Global
The high-profile credit ratings agency warns that infrastructure spending and more handouts are causing a significant deterioration in finances.
Chalmers closes in on shock third budget surplus
The budget is running $15 billion ahead of forecast thanks to a stronger-than-expected company tax take, but economists expect deficits from now on.
Lowe backs GST, company tax shake-up
Former Reserve Bank governor urges the Albanese government to embark on an ambitious overhaul of tax and policy settings to make Australia a great place to invest.
Super funds cautious on US despite Trump plans to drop ‘revenge tax’
The threat of punitive taxes on super funds in the US may have eased, but they’re still taking a cautious approach to investments in Trump’s America.
State debt to top $900b, triple pre-pandemic levels
The gross debt of state governments has increased by 150 per cent since 2019 to $661 billion, prompting calls by economists for premiers to rein in spending.
Chalmers urges Bessent to reconsider ‘revenge tax’ on super funds
The proposal would allow the Trump administration to raise taxes on countries deemed to levy discriminatory taxes against American firms.
Markets lock in rate cut after inflation tumbles in May
Inflation fell to its equal-lowest rate in almost four years last month as the rental market cooled and construction cost pressures moderated.
NSW budget shows $3.4b deficit, offers housing guarantee
NSW opposition doubts Treasurer Daniel Mookhey’s two-year path to surplus and labels its housing policy a “drop in the ocean”.
NSW’s path back to surplus is built on wishful thinking
History is littered with rosy budget projections that never came to pass, and there is little evidence that NSW will be the exception.
GST top pick for Chalmers to fund income tax cuts
Economists say the federal government will need to consider raising or broadening the GST to meaningfully reduce the rising income tax burden.
‘No one liked it’: Lessons for tax reform after 25 years of GST
The bitter brawl over the goods and services tax is worth remembering as Jim Chalmers opens the door to real reform for the first time in years.
Family trusts and electric vehicles in tax review spotlight
Higher taxes on family trusts and electric vehicle drivers are likely to be proposed by Treasury for Jim Chalmers to help pay for income tax cuts.
Jobless rate tipped to rise as government-funded hiring cools
Economists predict hiring across industries such as the public service and healthcare will soon slow and expose a weak private sector.
‘We’ve got a mandate’: Chalmers doubles down on $3m super tax
The treasurer said tax reform discussions were about the government looking for new ideas, not reversing course on its controversial super tax.