Boom is over, prepare for bust
IF YOU thought the mining boom going bust was bad for our economy, the construction bust is going to be huge.
Australian Economy
Say goodbye to the $100 note, Australia
AUSTRALIA is about to launch a major crackdown on cash payments — and may even scrap the $100 note altogether.
To flush, or not to flush
WET wipes are the bane of water authorities around the world. These gross pictures show why.
Is Australia headed for recession?
FINANCE Minister Mathias Cormann has rejected the claims after it emerged that the economy saw its first decline since March 2011 in the September quarter.
Labor premiers stall Turnbull’s plans
MALCOLM Turnbull issued a warning to the state premiers, saying without serious reforms Australians’ living standards are at risk.
Kevin Rudd’s $100 billion blunder
IT TURNS out those $900 cheques weren’t such a good idea after all. Kevin Rudd’s $100 billion GFC cash splash is still hurting the economy.
2017 is going to be a disaster
IF YOU think the latest economic figures were “not too bad”, think again. The government is leading us into a disastrous 2017.
Why disaster is actually a good thing
AUSTRALIA posted its worst economic performance since the Global Financial Crisis yesterday, but there are some crucial things the numbers hide.
Stupid things that make us mad
THERE are little things that drive us crazy, like having to change your address when you move. But that could be about to change.
Australia’s worst performance since GFC
THE economy is officially in the doldrums, with data painting a grim picture for the government’s “jobs and growth” agenda.
Shrinking economy a ‘wake-up call’
SCOTT Morrison has used data showing the Australian economy’s failure to grow to demand more support for the government’s economic plans.
Malcolm Turnbull limps to the finish line
MALCOLM Turnbull really needs a holiday. The PM managed to scrape by with a narrow, last gasp win yesterday, but his year was anything but a success.
‘Cowboys flogging the family silver’
LABOR has criticised a WA Government plan to sell off the Western Power poles and wires utility. But the Premier says it will bring in at least $11bn.
‘Cowboys flogging the family silver’
LABOR has criticised a WA Government plan to sell off the Western Power poles and wires utility. But the Premier says it will bring in at least $11bn.
Backpacker tax smackdown
THE Coalition was celebrating a major victory in the Senate, when Labor caught them completely off-guard.
‘I’m not going to jack up their rents’
SCOTT Morrison has ruled out any changes to negative gearing after NSW Premier Mike Baird called for a rethink of the controversial tax break.
Why did we shower Clinton with cash?
AUSTRALIA has poured millions of your taxpayer dollars into Hillary Clinton’s scandal-plagued charity. It begs an obvious question.
PM rejects negative gearing changes
MALCOLM Turnbull says there are no plans for a review of negative gearing, despite rebellion within Liberal Party ranks.
There are actually two Australias
AUSTRALIA has been split in two. While one half of the country booms, the other is facing an economic collapse.
New plan to make motorists pay more
ALL motorists could be tracked and charged fees based on how many kilometres they travel if a radical new proposal is adopted.
Another official push for fast train
IT’S an idea that seems to be dragged up every few months. But there’s one person who’s throwing everything at trying to get a high-speed train built.
Massive problem with our cities
THE gap between Australia’s metropolises and its smaller cities is growing wider and one group of people is far worse off as a result.
Should we scrap the $100 note?
THERE are growing calls to abandon the 300 million $100 notes in circulation. Here’s why it makes a whole lot of sense.
If Australia gets a Trump, this is why
COULD Australia get its own Donald Trump? Easily, if we’re not careful. The latest underemployment stats paint a scary picture.
What American vote means for Australia
IF YOU thought this election had no impact on Aussies, think again. Here’s what life could be like under Donald Trump’s rule.
PM open to debate on five cent coin
PRIME Minister Malcolm Turnbull has admitted that it’s a “fair point” that many Australians want to ditch the nation’s five cent piece.
Australia’s first true megacity?
SYDNEY and Melbourne could become one powerhouse city. It sounds bonkers, but 900km doesn’t have to be that far apart.
It’s official: we’re deeper in debt
AUSTRALIA’S national debt grew again between the midyear and full-year budgets, and it isn’t pleasant reading.
Vote that tore the nation apart
TODAY marks 100 years since this vote that could have “devastated” Australia. If it were held today, would you tick “yes” or “no”?
Turnbull at odds with his own ministers
NEW figures have shown thousands of Australians are better off on welfare than at work. In response, the Prime Minister is dithering.
Why we should smile at Chinese tourists
THERE’S been a massive boom in Chinese tourists travelling to Australia, it’s just one of the ways we are benefiting from China’s rise.
The most over budget road in Australia
THE final cost for this highway was five times its original budget. It’s just one of a slew of projects costing taxpayers more than $28bn.
Watch your back NSW, they’re coming for you
NEW South Wales may has been named Australia’s best-performing state, but it’s not all good news. The crown could soon pass to its biggest rival.
What will Mike Baird spend $40bn on?
NO WONDER the NSW Premier is happy, he’s got billions burning a hole in his pocket. But what are the big ticket projects now under consideration?
Could AAA downgrade hit your wallet?
A DOWNGRADE of Australia’s AAA rating is almost certain, so what does this mean for consumers and interest rates?
What was Lucy Turnbull thinking?
MOVE the NSW Parliament from Sydney to Parramatta? Seriously? Some people think the idea has merit but the Premier’s not one of them.
Property set to become ‘worst investment’
IF YOU were hoping to join the property investment boom, you may be too late to the party as warnings of a downturn increase.
Why you can’t get a payrise
IF IT feels like ages since you got a decent payrise, you are not alone — so don’t blame your boss for being stingy just yet.
What RBA isn’t telling you about housing
THE Reserve Bank seems to think housing is a smaller danger to the economy than in the past. But there’s something they’re not telling us.
You’re worse off than you think
WE’RE always told how lucky Australia is compared to other countries, but we’re actually getting a deeply misleading picture.
Apartment boom risks start showing
THE risks of oversupply the Brisbane and Melbourne apartment markets are “coming to the fore”, the Reserve Bank warns.
Housing a bigger threat than China
A HOUSING market downturn is a bigger threat to Australia’s financial stability than the slowdown in China, investors have warned.
Mum and dad’s big lending problem
THE number of parents lending their kids cash for both deposits and mortgages is out of control. And it could harm our economy.
Refugees heading to retirement home
PAULINE Hanson has slammed a plan to house Syrian and Iraqi refugees alongside elderly residents at a retirement village as an “absolute disgrace”.
How China has eclipsed Australia
THIS is the graph that shows how China has managed to dominate Australia for the past 25 years.
Shonky colleges — your time is up
THEY’VE been accused of signing up students who will never complete their course — now the government wants to clean up private colleges.
All aboard the barf fast train
THE Hyperloop promises to get you from Sydney to Melbourne in 55 minutes, but the proposal didn’t mention the downside.
Why the new $5 note is getting rejected
THE rollout of the new $5 note isn’t going as smoothly as everyone hoped. All around the country, shops and vending machines are rejecting it.
CBA admits: ‘We have done wrong’
COMMONWEALTH Bank chief Ian Narev admits his company’s insurance arm did wrong by some, but they haven’t sacked anyone.
‘Sydney to Melbourne in 55 mins’
A SUPERSONIC rail that travels at a lightning speed of more than 1000km/h could be coming to Australia. But there’s a catch.
Are big bank grillings just a ‘sham’?
THE big four banks are fronting up to be grilled by Australia’s politicians, but Labor thinks they’re getting off easy.
Your next Ford will be built at $6 an hour
THE Australian car manufacturing industry never stood a chance once a free trade deal was signed with Thailand. They pay just $6 an hour. So where’s the level playing field?
Chinese grey market a ‘$1 billion tax hole’
THE network of Chinese personal shoppers known as daigou have been quietly operating a grey market for years, but do they pay tax?
Government slaps $5 tax on all overseas flights
AIRLINE passengers will pay more for tickets to make up for revenue lost in the government’s U-turn on a backpacker tax.
Backpacker tax has $10 million sweetener
THE Federal Government has bowed to pressure over its unpopular backpacker tax, with a compromise that has a $10 million sweetener.
Big myth about so-called dole bludgers
THE government is making a lot of noise about welfare payments, but it pays to look a little deeper at the issue.
Why Australia’s big cities are miserable
BAD news. Our major cities have some pretty huge flaws. Unless we act to fix them, the problems will only get worse.
Traffic chaos is costing us billions
AUSTRALIA’S chaotic roads are forcing us to spend up to 151 extra hours a year in traffic. And that’s costing us a whole lot of money.
Wagging kids’ parents could be punished
WAGGING school could get Australia’s kids into trouble with more than just their principal under radical plans to overhaul the welfare system.
Shake-up targets youths on welfare
THE Federal Government today launched a campaign to save young people at risk of being buried for life in welfare dependence.
Apartment builders face ‘sharp correction’
APARTMENT construction firms will continue to benefit from migration and population growth, but a “sharp correction” is looming this year.
Airport strikes threaten tourism boom
STRIKES targeting one of the busiest travel times of the year threaten to shame Australia and undermine the tourism boom, says Tourism and Transport Forum boss.
Warning, your parents are ripping you off
YOUNGER Australians are being robbed and screwed over by the older generation — and they’re tired of copping the blame.
‘Australia needs to do an OzExit’
ONE of our senators has called for Australia to follow in the footsteps of Brexit and cut ourselves off. You might wonder what from.
‘Six weeks’ from a housing collapse
UH OH. Australia has just “six weeks” to prevent a housing market collapse, a worrying new report has warned.
Aussie sharemarket closes in the red
FEARS of a US Federal Reserve interest rate hike has driven the Australian share market to its lowest level in two months, with all sectors closing in the red.
What will be the future of our cities?
OUR cities are built on two major factors: income and wealth. So what can we expect them to look like in the future?
Some good news for our wallets
OUR personal disposable income is finally back to where it was in 2008. This is the first economic good news story in quite a while.
Why a strong economy is bad news for ScoMo
TREASURER Scott Morrison marked 25 years of economic growth in Australia. But why is this bad news for the Coalition?
How much land China really owns
AUSTRALIAN voters are worried about Chinese interests buying up our land. How much does China actually own?
Sneaky way they are ripping you off
IT IS being promoted as a fairer system for all commuters. But it’s really just a sneaky way to make you pay hundreds more a year on your commute.
Scary forecast for homeowners
AUSTRALIA could suffer a crash in property prices in the next two years, resulting in a recession, a new report has warned.
Hidden features of new $5 note
LOVE it or hate it, the new $5 note is about to replace more than 165 million old ones. But there’s more to its redesign than meets the eye.
How we can stop the next Thermomix
FROM exploding Thermomixes to petrol price gouging, Aussies are increasingly getting stung by dodgy behaviour. This plan could fix that.
Turnbull’s obsession is a big mistake
IT’S Malcolm Turnbull’s favourite buzzword, but a US policy expert says his obsession with this popular ideology may do more harm than good.
This could cost every Aussie $500
THERE is a growing gap between the rich and poor in Australia. And it could soon be costing you $500 a year, according to a new report.
The six things we need to fix our cities
AUSTRALIAN cities face mounting pressure over expensive housing, urban sprawl and traffic nightmares. This is how we can fix them.
What it’s like to be a Census worker
IF YOU felt put out by last week’s Census fail, spare a thought for the workers who are getting hammered by a furious public.
RBA boss warns on foreign cash
THE outgoing boss of the Reserve Bank has sounded a warning for Australia about letting foreigners buy up our assets en masse.
Why botched Census boss won’t be sacked
MALCOLM Turnbull says “heads will roll” over the Census disaster, but it turns out that the man in charge of the hacked survey is not so easy to get rid of.
Original URL: https://www.news.com.au/finance/economy/australian-economy/page/165