Spending stalls as families bank Labor’s tax cuts
Australian retail sales stalled in September, with fresh data suggesting shoppers opted to save, rather than spend, the additional income they received from Labor’s overhauled stage three tax cuts.
Jack Quail
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Interest rates stuck, at your service
Household borrowers holding out for relief will have to wait months more despite inflation hitting a 3½-year low, as rising price pressures in the services sector prevent the RBA from embarking on rate cuts.
Retailers warn Christmas trade will be tough
Retailers are expecting tougher conditions through the all-important Christmas trading period as consumers continue to save, rather than spend, almost all of the extra income they have received from the stage three tax cuts.
Middle East ceasefire would help my CPI war: Chalmers
Jim Chalmers will make an economic case for a ceasefire in the Middle East and open a new front in Labor’s push to end conflict in the region, warning the ‘global middle class’ will be hurt.
Housing fund ‘a bid to sandbag key seats’: Coalition
Labor is using a key housing fund to sandbag seats ahead of the next election, the Coalition alleges.
Reserve’s jobs strategy ‘poses inflation risk’
The Reserve Bank has risked placing too much emphasis on shielding jobs growth at the expense of reducing inflation, some economists have warned.
IMF inflation warning: World goes low as we stay high
Australia’s run of high inflation is on track to exceed all advanced economies except Slovakia’s, according to new IMF forecasts that will increase pressure on the Albanese government and the Reserve Bank.
States reject O’Neil’s overtures to scrap ‘bad tax’ stamp duties
Housing Minister Clare O’Neil’s push for state and territories to axe stamp duty have been rejected, with governments instead opting to tinker with the levy to create a de-facto first home buyers grant.
Job losses masked by care economy
More than 90,000 jobs have been shed in hospitality over the past year, but taxpayer-funded ‘care economy’ roles have masked the losses, driving a 375,000 jump in jobs being created.
Mixed reviews for Coalition’s $5bn housing pledge
Peter Dutton’s $5bn pledge to fast-track shovel-ready developments has received mixed reviews from housing policy experts, handing Labor ammunition ahead of the election.
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