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Australian economy

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Australian tax data for 2022-23.

Income tax out-paced wages as rates and inflation started to bite

Wages started to climb soon after Anthony Albanese’s election in 2022, but changes to the tax system meant people didn’t see most of that extra cash.

  • Shane Wright

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Falling housing construction costs have contributed to a further easing in key measures of inflation.

Inflation dive gives Reserve Bank scope for multiple rate cuts

Cheaper mandarins, discounts on new homes and easing rental pressures have brought down key measures of inflation.

  • Shane Wright and Millie Muroi
Treasurer Jim Chalmers has warned US turmoil is affecting global markets.

There used to be five big risks to the Australian budget. That’s grown

For the first time, the treasurer has flagged the risk posed by US government bonds, which are a cornerstone of the global financial system.

  • Shane Wright
Treasurer Jim Chalmers admits the progressive side of politics is getting in its own way, strangling its ideas.

Good ideas strangled by red tape: Treasurer to crack down on bureaucracy

Jim Chalmers says boosting productivity is central to his economic agenda. In an exclusive interview, he maps out how he hopes to do it.

  • Shane Wright
Treasurer Jim Chalmers speaks at the National Press Club on Wednesday.

Is this Gentle Jim’s JFK moment? If it is, he’s overlooked one thing

Treasurer Jim Chalmers, anxious to raise the bar on reform, is asking us to be more than ourselves. But can he be more than himself?

  • Peter Hartcher

Dark clouds gather over Australia’s red earth riches

China’s voracious appetite for iron ore has kept the Australian economy prosperous for decades. But demand is starting to cool.

  • Simon Johanson and Nick Toscano
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Treasurer Jim Chalmers has signalled his ambition to go beyond Labor’s election promises.

Treasurer opens the door to fresh tax cuts

Labor’s personal tax cut pledge helped it win the election, but Jim Chalmers has signalled the party could use a summit in August to go further.

  • Millie Muroi
Treasurer Jim Chalmers will warn the global economy faces perilous times.

Democratic world is vulnerable, Chalmers warns

Jim Chalmers admits the economy and budget bottom line still need to be wrangled into shape as the government sharpens focus on improving lives of “working people”.

  • Millie Muroi
Why can’t governments just keep printing money?

The government can print money. So, why can’t it keep borrowing?

This is why some countries can have debt up to their eyes while others collapse – and where Australia sits on the global hierarchy of debt.

  • Millie Muroi
Home buyers could have hundreds of dollars extra in their pockets in time for Christmas as expectations grow of a string of interest rate cuts.

Reserve Bank could deliver shoppers plenty of pre-Christmas cheer

The expectation of an interest rate cut next month has soared in recent days. With more predicted cuts to follow, that could mean lots of Christmas cheer for the nation’s shoppers.

  • Shane Wright

Original URL: https://www.smh.com.au/topic/australian-economy-1m3k