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Federal budget

This Month

Prime Minister Anthony Albanese writes and signs ‘No Change To WA GST’ on the forearm of a West Australian reporter on Monday.

As budget bonanza flows, fiscal caution is the first casualty

The rivers of resources gold coming into the government’s coffers are turning into most expensive marginal seat strategy in the nation’s history.

  • Chris Richardson
Anthony Albanese and Peter Dutton

Albanese kills early election talk, plans two more budgets

The PM said the 2025 budget would be brought forward to March, setting the scene for the government serving the full three-year term, rather than holding a snap poll before Christmas.

  • Updated
  • Phillip Coorey
AMEC chief Warren Pearce says explorers and industry entrants going in to compete with the big miners need a separate voice.

Nickel tax breaks a coup for ‘the other minerals council’

The government’s consideration of tax credits for critical minerals producers is emblematic of a Perth lobby group’s rise from obscurity to influence.

  • Peter Ker
Dr Simon Longstaff, AO, director of the Ethics Centre, is urging the federal government to invest in a national ethics institute.

Chaney, McManus, Pocock back $30m push for ethics institute

Leading business figures, union leaders, politicians and academics want the federal government to help establish a national ethics institute.

  • Updated
  • Tom Rabe and Patrick Durkin
States could be pressured to give up road safety data.

States to be forced to give up secret road crash data

Amid growing alarm over the rising road toll, pressure from Senator David Pocock is set to link $50 billion in federal road funding to state crash data transparency.

  • Jacob Greber
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Economist Saul Eslake says of WA’s GST deal: “How that can be reconciled with any sensible concept of equity, let alone fiscal prudence, is surely beyond comprehension.”

‘Beyond comprehension’: WA’s GST deal to blow out to $50b

Economists Saul Eslake and Chris Richardson say the cost of a GST deal negotiated by the Turnbull government to win votes in WA could blow out to $50 billion.

  • Phillip Coorey and Tom McIlroy
Victorian Premier Jacinta Allan says the state cannot afford not to build the controversial $125 billion Suburban Rail Loop given the city’s rapidly growing population.

Federal auditor to probe Labor’s $2.2b Suburban Rail Loop commitment

The auditor-general will examine whether the approval of Commonwealth funding for the $125 billion project was “informed by appropriate departmental advice”.

  • Gus McCubbing
Anthony Albanese and Peter Dutton

‘No strings attached’ for nearly $1b in federal grants

Almost $1 billion of taxpayers’ money is being paid out annually in government grants that have been awarded without proper competitive assessments.

  • Tom McIlroy
The Prime Minister might have paved the way for a tax cut debate faster than anyone thought.

Media theatrics over stage three cuts obscure a good policy choice

Voters were quicker to welcome a decision that benefited millions than journalists who were transfixed by a political horse race.

  • Laura Tingle
Bill Shorten was a key architect of the NDIS that is now haemorrhaging taxpayer money.

Forget tax cuts, fix NDIS or heads must roll

The budget hole from the NDIS is now so serious that hard, honest truths must be told and a big light shone on Bill Shorten, Jim Chalmers and Katy Gallagher.

  • John Kehoe
Treasurer Jim Chalmers says higher interest rates mean government debt is more expensive to service.

Australia avoids ‘iceberg’ but debt on track to hit $1.4 trillion

Total government debt could be worth as much as 58 per cent of GDP by 2027 according to a new paper from the Centre for Independent Studies.

  • Samantha Hutchinson

January

Independent MPs Kate Chaney, Zoe Daniel and Allegra Spender want the government to commit to a sweeping review of the tax system.

Teals seek ‘brave’ conversation on tax reform

Zoe Daniel and Kate Chaney are calling on the Albanese government “to put everything on the table” in a sweeping review of tax policy.

  • Lois Maskiell
Labor is seeking to start the year with a strong response to cost of living pain facing households.

Stage three tax cuts under scrutiny as PM woos voters

Cabinet looks set to discuss changes to the stage three tax cuts on Tuesday, as part of efforts to help with cost-of-living pressures facing low and middle income earners.

  • Tom McIlroy, John Kehoe and Andrew Tillett
Cost of living help is coming, PM says

Seven ways Labor could help ease cost-of-living pain

Prime Minister Anthony Albanese will unveil new help for households this week, as Labor seeks to shake off a summer slump at the start of the new political year.

  • Tom McIlroy
Prime Minister Anthony Albanese says he will use the May budget to deliver more cost-of-living relief to households.

Iron ore price surge delivers Labor an $18b tax windfall

The surge in iron ore to $US145 per tonne bolsters the prospect of a second budget surplus, and comes as Labor plans another round of subsidies for voters.

  • Updated
  • Michael Read
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The focus must shift to prime minister and treasurer this year.

Cowardice and populism must not mark politics in 2024

This will be an election year in all but name. Anthony Albanese has to finally live up to the economic reform challenges

  • The AFR View

December 2023

Odds for 2024 point to another close Labor win in 2025

A growing number of Australian voters are looking for genuine leadership in both major parties, but find them wanting.

  • Updated
  • John Black
Should Albanese and Chalmers be deciding on a new target for tax cuts?

The stage three tax cuts exist in a different world from 2019

As bracket creep starts to bite harder, the Albanese government might want to start rethinking where its tax cut focus should be.

  • Laura Tingle
Treasurer Tim Pallas says Victoria should be receiving 26 per cent of federal investment to match its population.

‘A milking cow’: states lash Commonwealth over infrastructure funding

Victoria will get just 1.6 per cent of new priority infrastructure spending over five years, and cuts are expected to cause a $1.6 billion hit to NSW’s budget.

  • Gus McCubbing and Samantha Hutchinson
Treasurer Jim Chalmers and Finance Minister Katy Gallagher during a press conference on the budget update at Parliament on Wednesday.

Chalmers backs in tax relief for bracket creep

The budget bottom line has been boosted by $39.6 billion over the four-year forward estimates since May, and is back on track for a surplus this financial year.

  • Phillip Coorey and Michael Read