This Month
State spending splurge could delay interest rate cuts, warns Westpac
Governments are planning to inject more than $50 billion of stimulus into the economy in the year ahead, adding to inflation pressures, the bank has warned.
- John Kehoe
- Exclusive
- Income tax
How much extra tax you stand to pay because of bracket creep
The average taxpayer will lose $2000 to the so-called stealth tax in the next four years, which will deliver the federal government an extra $29 billion in revenue.
- Michael Read
- Exclusive
- Interest rates
‘World-leading deficits’: Australia’s state debts could hit $800b
They are on track to triple by 2028 relative to pre-pandemic levels, warns S&P, amid a spending binge that economists say is making the RBA’s job harder.
- Michael Read
- Opinion
- JobKeeper
Why JobKeeper may be part of our productivity problem
An anxious Reserve Bank of Australia is hoping for a pick-up in labour productivity this year to help alleviate the economy’s inflation problem.
- John Kehoe
- Opinion
- The AFR View
RBA holds, but has it done enough?
Even with this tightening bias, the longer inflation remains above target, the more the Reserve Bank’s credibility is challenged.
- The AFR View
Fights over pay rises challenge a bold prediction in NSW budget
A $10.7 billion windfall from soaring property taxes will pay for more public servants but won’t stop NSW posting deficits for nine straight years and risking its AAA credit rating.
- Updated
- John Kehoe and David Marin-Guzman
- Analysis
- NSW budget
NSW budget shows a $6b GST hit, but Mookhey says it’s double
NSW Treasurer Daniel Mookhey insists the state budget has been “ripped off” $12 billion in GST, even though his budget papers show a shortfall of half that amount.
- John Kehoe
- Opinion
- Chanticleer
RBA’s narrow path is getting narrower. Blame the housing market
The RBA’s concern is that rising household wealth – thanks in large part to strong house price growth – could keep inflation stickier than it wants.
- James Thomson
- Opinion
- NSW budget
Mookhey may need a wages miracle to land this budget
NSW is sucking extra tax out of the asset-rich, property-owning class that has enjoyed a massive asset price boom, to spend more on government services, housing and public sector employees.
- John Kehoe
- Opinion
- Interest rates
The RBA is refusing to act like inflation is a problem
Apparently the Reserve Bank thinks raising rates would trigger a technical recession, so don’t expect our inflation-driven cost-of-living crisis to end soon.
- Richard Holden
RBA warns on budget spending surge
The board warned that big-spending government budgets risked stoking demand, and conceded inflation was proving stickier than expected.
- Michael Read
- Opinion
- Interest rates
Jobs boom means rate rise will be close call
It is becoming increasingly clear that a critical reason the economy is proving resilient to tighter monetary policy is a chronic shortage of labour.
- Warren Hogan
- Exclusive
- NSW budget
The secret reason behind NSW’s ‘nonsense’ claim on $12b GST shortfall
NSW’s AAA credit rating is on the line. The federal government, other states and rating agencies believe NSW made an error forecasting GST revenues.
- John Kehoe
- Analysis
- Productivity
Sam Kennard’s pub shows what’s wrong with Australia
The Kennards Self Storage owner’s struggle to build a craft pub is an example of the nation’s economic problems.
- Aaron Patrick
AI poses ‘massive’ risk to financial system, warns RBA reviewer
Renee Fry-McKibbin, one of the authors of the RBA review, says the risk posed by AI shows the need for specialist governance and interest rate-setting boards.
- Michael Read
- Opinion
- RBA
Stalled RBA governance board vital to manage AI’s threat to financial system
One of the authors of the Reserve Bank review says the sudden rise of artificial intelligence makes the need for the proposed dual-board structure even more urgent.
- Renee Fry-McKibbin
World is looking ‘more like the 1930s’, Future Fund warns
Australia’s sovereign wealth fund chief is reshaping its $200b portfolio as global risks hit a 50-year high.
- Jonathan Shapiro
- Exclusive
- Interest rates
Chalmers’ budget is expansionary: RBA analysis
Labor’s third budget adds more money into the economy this year than it takes out, making it ‘slightly expansionary’, according to RBA research.
- Michael Read and Ronald Mizen
Jobs are booming in this industry, but the cause is rooted in sadness
A mental health services recruiter says demand for employer assistance programs has skyrocketed since the pandemic as people battle cost of living pressures.
- Gus McCubbing
Job losses near record lows as unemployment falls to 4pc
The share of workers losing or leaving their jobs has fallen to a near-record low as the labour market shows remarkable resilience to higher interest rates.
- Updated
- Michael Read
