This Month
Anthony Albanese has a hat but does he have a rabbit?
For a government elected almost three years ago, the decline in Labor’s fortunes has been steep, and proportional to cost-of-living pressures that have driven out incumbents around the globe.
- Phillip Coorey
Ageing Australia to lean on millions more migrants: Treasury
The population is forecast to hit 31 million in a decade, as younger migrants pay for the increasing number of older people in aged care and the health system.
- John Kehoe
Booze and ciggies tax down $12.5b as bootlegging, illegal tobacco boom
Soaring taxes have driven a fall in consumption but also a shift towards contraband.
- Phillip Coorey
- Opinion
- Global economy
Inflation risk crashes into political risk
Market tantrums and the fall in the Australian dollar in response to the US Fed show that next year is likely to be even more volatile.
- Jennifer Hewett
More budget measures to come before the election: Labor
The government will spend the summer finalising new initiatives to woo voters, while striving not to further worsen the budget position.
- Updated
- Phillip Coorey
- Opinion
- The AFR View
Bigger and hidden deficits are the real MYEFO result
In its mid-year budget outlook, Labor is effectively doubling down on the bigger-spending, bigger government that has crowded out private investment.
- The AFR View
- Opinion
- Federal budget
Budget update sounds a clear warning
Jim Chalmers is good at relaxed rhetoric about the economy. The mid-year figures are much tougher to explain.
- Updated
- Jennifer Hewett
- Opinion
- Federal budget
Early election or not? MYEFO keeps us guessing
We enter the Christmas break none the wiser whether the government will hand down another budget before going to the polls.
- Phillip Coorey
Chalmers’ low iron ore forecasts open door for more spending
The government’s mid-year budget continues to price in iron ore at $US60 next year, offering scope for revenue upgrades and even more government spending.
- Alex Gluyas
- Opinion
- Chanticleer
MYEFO has short-term gain and long-term pain for investors
Growing government spending will help prop up tepid ASX profits. But investors should fear the longer-term issues that are being created.
- James Thomson
Cruises diverted as aid is rushed to quake-struck Vanuatu
At least 14 people were killed and hundreds injured in two earthquakes in the South Pacific nation, and Australian rescue crews and medical teams are being urgently deployed.
- Updated
- James Hall and Tom McIlroy
$22b budget blowout; WFH is an ASX mess; The $3b Aussie wealth manager
Read everything that’s happened in the news so far today.
Labor lifts M&A fees and bolsters phoenixing crackdown
Jim Chalmers’ mid-year budget update has increased fees for company takeovers and provided funding to boost penalties for dodgy behaviour.
- Tom McIlroy
- Opinion
- Federal budget
Labor is losing control of a broken budget
Despite near-record government revenues, a spending surge is causing a big blowout in budget deficits over future years.
- John Kehoe
Capital gains benefit spikes to $22.7b as property investors sell out
Treasury estimates forgone taxes from the capital gains tax discount in 2024-25 have more than doubled since the last estimate in February 2023.
- Ronald Mizen and Michael Read
Tax rise on $3m-plus super accounts ‘unfinished business’: Chalmers
Jim Chalmers says he’ll keep pursuing higher taxes on $3 million-plus superannuation accounts, but won’t go after negative gearing.
- Phillip Coorey
Labor lashes Dutton over nuclear savings ‘gaffe’
The opposition leader has appeared to confuse key figures from costings of his signature nuclear plan, prompting criticism from Labor.
- Tom McIlroy
Departments pushed to defer spending to shrink deficits
Bureaucrats say they are being asked to “re-profile” expenditure to minimise the size of deficits in time for the federal polls.
- Phillip Coorey
- Opinion
- The AFR View
Credit to Chalmers for non-partisan RBA picks
The Coalition’s fears that a Labor treasurer would stack the new board with political appointees have not been borne out. The crucial independence and credibility of the central bank have been preserved.
- The AFR View
- Opinion
- Nuclear energy
Nuclear play snares energy industry in political pincers
Peter Dutton is betting big on nuclear power. Labor labels this economic insanity. And the public won’t believe either party’s estimates of what will be cheaper.
- Jennifer Hewett