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Federal budget

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More cuts coming as Chalmers reveals $20 billion slice to budget

Jim Chalmers and Katy Gallagher will reveal $20 billion in new spending cuts and changes in the mid-year budget update as they try to bring the deficit under control.

  • Shane Wright

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A sharp fall in full-time employment has given the Reserve Bank some pause for thought over interest rate movements.

Nation sheds 56,500 full-time jobs in a month, giving RBA a headache

Just two days it appeared clear the Reserve Bank would lift interest rates next year. But new job figures suggest the economy may struggle.

  • Shane Wright

Every second cigarette in Australia is now illegal

The nation’s illicit tobacco commissioner has revealed the illegal trade is costing taxpayers up to $11.8 billion a year as it fuels organised crime.

  • Shane Wright
RBA governor Michele Bullock and the rest of the bank’s monetary policy committee has the financial future of many Australians in their hands.

The single number that will determine interest rates in 2026

The Reserve Bank could be lifting interest rates as early as February next year. A single number will determine the RBA’s next move, and we know the day it’s coming.

  • Shane Wright
Treasurer Jim Chalmers.

Chalmers ends energy rebates as budget bites

The Albanese government’s $300 power bill subsidy will be scrapped at the end of the year, Treasurer Jim Chalmers has announced.

  • Michelle Griffin and Shane Wright
Finance Minister Katy Gallagher, Anthony Albanese and Jim Chalmers with the 2022 federal budget. Without reform, it may be one of the last budgets to end up in surplus.

Budget will remain in deficit forever without change

The Albanese government delivered the first budget surpluses in 15 years. But they may be the last according to a Deloitte Access Economics report.

  • Shane Wright
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Jim Chalmers delivers his fourth budget earlier this year. Along with financial blueprints of the states and territories, it told a story of more debt .

Government interest bills soar as public debt tracks $1 trillion

The federal, state and territory governments are now on track to spend more on the interest repayments on debt than on the NDIS.

  • Shane Wright
UK Chancellor of the Exchequer Rachel Reeves (right) with Prime Minister Keir Starmer in London in May.

Sex, money and politics: how a taboo subject could trip up the left

Labor and Labour governments aim to make voters feel like they receive more from the government than they put in. But eventually, it’s “ordinary people” who “pay a little bit more”.

  • Parnell Palme McGuinness
The federal government is raising the top fines for dodgy providers in the NDIS from $400,000 to $16.5 million.

Labor boosts fines by 40 times, adds jail time for ‘shonky’ NDIS providers

New powers will give the NDIS commissioner discretion to block ads that falsely claim participants can use their funding to pay for luxuries such as cruises.

  • Natassia Chrysanthos
Minimum-wage earners will be hardest hit by projected increases in income tax.

Workers face paying extra $300 billion in tax without reforms

Income tax is the government’s single largest source of revenue. It’s only going to grow, new analysis shows, hitting workers for an extra $300 billion.

  • Shane Wright

Original URL: https://www.smh.com.au/topic/federal-budget-5x3