budget repair

Government spending needs to be drastically cut and taxes will have to rise to prevent a “persistent structural deficit” which could see Australia’s bottom line sink by around $70 billion a year. A respected think tank has said there are…

Australia could still avoid a recession despite fresh forecasts providing a grim backdrop for the upcoming budget, the Treasurer says. The International Monetary Fund slashed the outlook for the Australian economy overnight and warned the…

It’s been nothing but bad news for the Aussie budget for years on end – but it turns out things are actually starting to look up.That’s according to leading Australian economist Chris Richardson, who has revealed that 2022 is “on track for…

Premier Mark McGowan has taken credit for the deficit revealed in the federal budget, suggesting Western Australia has propped up the rest of the country.Budget papers reveal the deficit next financial year will be $36.9bn, which is an…

Delivering his first federal budget and the first “re-do” budget Australia has ever seen, Treasurer Jim Chalmers has handed down a very different economic plan to the one his predecessor left us with earlier this year.The March federal…

The Australian government has hailed the significance of Rishi Sunak’s ascension to the British Prime Ministership following his “commitment” and “persistence” to obtain the role.Mr Sunak won the UK Conservative Party‘s leadership overnight…

Labor’s federal budget will save up t0 $21bn after an audit revealed ways to claw back savings by cutting costs in many government departments.Among the cuts to be made are $2bn worth of grants and $3.6bn that would have been spent on…

Australians have been promised a “bread and butter” budget on October 25 – one which will be “resilient” but “won’t be fancy”.With the world teetering on the brink of a recession, Jim Chalmers has sought to downplay expectations about the…