Today
'We need reform like we've never seen before'
As the country faces unprecedented debt levels and economic uncertainty, there is a growing call for a new reform agenda.
- Matthew Cranston
- Exclusive
- Federal budget
Victoria risks Australia's AAA credit rating
The state's lockdown will cost the national economy $3.3 billion or 0.75 of a percentage point in GDP in the September quarter.
- John Kehoe
Yesterday
- Analysis
- Federal budget
How the government can shrink the $850b debt bill
If the economic growth rate exceeds the borrowing rate, the debt-to-GDP ratio will fall over time, even if the dollar value of debt does not decline, writes John Kehoe
- John Kehoe
This Month
The COVID-19 economic update in numbers
We're tracking the Australian economy as it recovers from the coronavirus pandemic lockdown.
- Edmund Tadros and Les Hewitt
Tax plunges, spending highest in 75 years
Federal government spending as a share of the economy will soar to a 75-year high of 34 per cent and tax revenue will collapse by a record $96 billion.
- John Kehoe
Victoria refuses to 'count pennies' as deficit hits $7.5 billion
The state has unveiled a shocking budget deficit, with job losses expected to hit 200,000 and property prices to fall by 9 per cent. But forecasts will get worse if the lockdown is extended.
- Patrick Durkin and Tom McIlroy
'We can see the mountain ahead and Australia begins the climb'
Here is an extract from Treasurer Josh Frydenberg's speech when he released the government's first economic update since the pandemic crisis hit.
Property in 'uncharted waters' as migration dives
Buried in the assumptions of the July economic and fiscal update is the forecast that migration - for decades a key driver for the nation's economy - will fall to just 31,000 in 2020-21.
- Nick Lenaghan
- Analysis
- Analysis
Treasury's rebound hinges on virus optimism
The government's outlook for a sustained improvement in the economy is based on a number of optimistic assumptions on the virus. Will other states really be reopening to Victorians in just four weeks?
- John Kehoe
Budget's estimate of iron ore price very conservative
Treasury is expecting the iron ore price to halve but depending on when could mean a $2.2 billion hit to the budget bottomline.
- Matthew Cranston and Peter Ker
June quarter the worst on record
The 2.5 per cent contraction in the economy will be the worst since the end of World War II following a 7 per cent contraction in the June quarter – the worst in history.
- Matthew Cranston
- Opinion
- Opinion
Forecasts unveil hardest hit part of the economy
The key to the economic and jobs recovery, when it comes, will be coaxing businesses back into taking a risk. We need them to be spending again, writes Chris Richardson.
- Chris Richardson
Why unemployment could hit 10.75pc
Unemployment could hit a 26-year high, while wage growth is forecast to be the lowest on record.
- Matthew Cranston
'Harsh reality': Jobless rate to hit 9.25pc
The extent of the havoc inflicted on the economy by the coronavirus pandemic has been laid bare in an update that shows net debt will hit $677.1 billion this financial year and the jobless rate will be 9.25pc before Christmas.
- Phillip Coorey
Half of Australians spending less than last year
One-third of Australians will not have recovered pre-COVID-19 spending levels in six months, according to a new survey.
- Matthew Cranston
Card spending shows recovery hopes still alive
While spending in Victoria has dropped in key areas it is up overall, indicating that government stimulus is working.
- Matthew Cranston
Reserve Bank's reservations on modern monetary theory
Philip Lowe will speak on record public sector balance sheets but many will be listening for his take on the current push to allow governments to spend at will, funded by the central bank.
- Matthew Cranston
Victoria tears up jobs forecasts for nation
Melbourne catering king Tommy McIntosh is one of the thousands of successful Victorian business operators who have been forced to rehire staff only to lay them off again.
- Matthew Cranston
Women pick up the call for more work
Nurse Jessica Longo is one of the 1800 workers Ramsay Health Care has hired in the past three months.
- Matthew Cranston
KPMG proposes COVID-19 administration regime
A proposed bespoke COVID-19 administration regime would help retailers such as Seafolly survive the pandemic.
- Sue Mitchell
