global downturn

As America lurches towards an unprecedented default, attention is turning to the “economic calamity” it would trigger across the globe.The nation is running out of cash – fast – and tense negotiations are currently underway in Congress…

Treasurer Jim Chalmers says Australia will be watching China’s response to its latest Covid outbreak closely, as he warned the nation is “not immune” to an impending global downturn. Speaking in Queensland on Monday, Dr Chalmers said while…

As Labor prepares to hand down its federal budget amid recessions in other countries, many people are focused on potential changes to the stage three tax cuts.That is despite Prime Minister Anthony Albanese repeatedly saying he has no plans…

Treasurer Jim Chalmers has warned the upcoming federal budget would be written on the “backdrop” of a deteriorating global situation and shared new detail on how a likely global recession would hit Australia.“The world is bracing for…