Chalmers hints at ‘mid-teens’ surplus
Treasurer Jim Chalmers says he is expecting Australia’s surplus to grow beyond the $9.3bn forecast in the budget, with the exact figures set to drop in September.
Treasurer Jim Chalmers says he is expecting Australia’s surplus to grow beyond the $9.3bn forecast in the budget, with the exact figures set to drop in September.
Federal budget papers show about $9.7bn could bolster the government’s bottom line thanks to the tax office’s fight to get corporate Australia to pay up.
CoreLogic head of research and housing guru Eliza Owen has weighed up the federal budget’s property moves – and found them wanting in three key areas.
Jim Chalmers thought he would be spruiking his budget during a TV appearance, but then he was asked an awkward question about Israeli Prime Minister Benjamin Netanyahu.
While the prime minister expected to spend his week spruiking the federal budget, he’s instead facing a completely different kind of fight.
Despite a chorus of economists sharing concerns with the budget, the Treasurer is adamant his plan won’t make the cost of living crisis worse.
The government has pledged a big cash splash on new housing, but labour shortages that have crippled the building sector loom as a critical test for its ambitious targets.
The Budget papers warn that China’s property market woes and softening demand present significant risks for Australia.
Australia’s two key regulators will see their budgets boosted, as Treasurer Jim Chalmers puts the agencies at the forefront of the government’s fight against scams and fraud.
The federal government will pump $15bn into resource-rich states to encourage investment in hydrogen production and critical minerals processing.
Super funds have welcomed measures to address the retirement savings gap but say more still needs to be done for low-paid workers.
A drop in government receipts from superannuation is merely a taste of things to come if the proposed wealth tax on super goes ahead in its current form.
Gerry Harvey’s warehouse power bills have doubled, builders are beset with labour shortages and it’s slim pickings for small business, according to industry leaders.
Major miners and investors have toasted the cash splash for hydrogen production and critical minerals processing, with hopes it will unlock $50bn in spending for the sector.
Original URL: https://www.dailytelegraph.com.au/topics/federal-budget/page/2