Business

Federal Budget news

Budget battle as Treasurer won't commit to saving mining windfall

Treasurer Scott Morrison: "I was pleased to see the support for trade in the G20 communique."

Australia's top economic bureaucrat has begged the government not to spend the coming windfall from soaring coal and iron ore prices, saying if it did it would repeat the mistakes of prime minister John Howard and treasurer Peter Costello in the early 2000s.

Economists believe commodity run is probably done

China's role in giving a boost to commodity prices is clear enough, but is it enough?

It is rare to find much unanimity among economists, but one of the few things they agree on is that the trough in commodity prices of 2016 will not be repeated. The question for now is how far will prices retreat, especially following the March quarter, which often marks a cyclical high.

Resource spending downturn yet to bottom

The gas pipeline for Inpex's Ichthys LNG project. Deloitte says completion of the Gorgon, Prelude and Ichthys projects ...

The collapse in resource sector investment has yet to run its course, with the looming completion of as much as $100 million of spending on gas export projects to slash the level of engineering construction to the lowest level since 2009, a report by Deloitte Access Economics has found.

End the age of entitlement - for seniors

Seniors are doing better in real terms than younger people earning the same incomes.

Australia's tax system has become skewed towards a growing and apparently untouchable group of 'taxed nots' - they are older Australians who pay roughly $1 billion per year less tax than younger Australians in the same circumstances, according to a new Grattan Institute report.