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The Latest Breaking News on Economy

Stock Market Today: Stocks Close Lower Ahead of Key Debt Ceiling Vote

The major benchmarks spent most of Wednesday in the red as the House prepares to vote on the debt ceiling deal this evening.

Kiplinger

Working parents to get DWP childcare boost from next month

Parents who claim Universal Credit will get their childcare costs paid upfront as well as an increase in the amount they can claim

Chronicle Live

Victorian private schools ‘fearmongering’ over job losses after tax exemptions axed, experts say

About 110 of the state’s top high-fee paying private schools will be required to pay tax on staff salaries, raising more than $420m over three years

The Guardian - AU

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NSW government freezes pay of MPs, senior public servants

New South Wales politicians and senior bureaucrats will not be getting a pay rise for at least two years, as legislation to freeze their pay is introduced to parliament.

ABC News

Business groups back 'fair growth' principle

Key business groups welcome the Move Forward Party's campaign promises to tackle economic inequality, but wonder if it can solve a problem that has long plagued the country.

Bangkok Post

More money than expected for AFL team in Tasmanian budget but public sector cuts on the way

There's hundreds of millions of dollars in the state budget to kickstart Tasmania's entry into the AFL — but there's also a debt blow-out on the horizon, explains Adam Langenberg.

ABC News

Degrowth isn't the same as a recession – it's an alternative to growing the economy forever

The UK economy unexpectedly shrank by 0.3% in March, according to the Office of National Statistics. And though the country is likely to narrowly avoid an official recession in 2023, just as it did the previous year, the economy is projected to hit the worst growth rates since the Great…

The Conversation

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‘Big business’ to be hit with new levy in Victorian state budget to help fund Covid recovery

Treasurer Tim Pallas to hand down ninth budget on Tuesday with all eyes on debt recovery plans

The Guardian - AU

Labor hails ‘strongest start for jobs growth’ of any Australian government

Analysis shows more than 330,000 jobs gained in past year, but treasurer concedes inflation needs to cool

The Guardian - AU

Michael Pascoe: Why you might never see that ‘wage growth’ we hear about

One thing we know for sure about the RBA – it knows even less about the outlook for wage growth than it does about inflation.

The New Daily

New Zealand budget plan offers modest financial relief ahead of election

Months before an election, New Zealand’s government is offering some modest financial relief to many people by making most prescription medicines free and increasing subsidies for childcare and public transportation

The Independent UK

Unemployment rate jumps to 3.7 per cent

The official labour force report reveals the jobless rate lifted to 3.7 per cent and around 4000 jobs were lost from the economy.

The New Daily

New Zealand set to deliver no frills budget as election looms

New Zealand is set to deliver what it calls a "no frills" budget on Thursday as falling tax revenues squeeze coffers and inflation risks cap cyclone reconstruction efforts, constraining stimulus as the Labour government faces an election this year.

Reuters

Labor urged to return employment services to public sector amid warning over mutual obligations

Union says compliance measures do more harm than good as Acoss analysis reveals they disproportionately affect vulnerable jobseekers

The Guardian - AU

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Wales Online

Strike-hit education and health sectors struggling to recruit staff says report

Both sectors have been hit by strikes for several months in bitter disputes over pay and staffing

The Independent UK

Strike-hit education and health sectors struggling to recruit staff – report

Almost half of public sector employers surveyed expect significant problems filling vacancies to continue over the next six months.

Evening Standard

OPINION - The Standard View: Without economic growth, there is no escape from the cost of living crisis

The UK economy cannot get out of first gear. Data released by the Office for National Statistics shows growth was a negligible 0.1 per cent in the first quarter of the year, with output falling by 0.3 per cent in March alone.

The Guardian - UK

Too early to sound the all-clear as impact of UK rate rises yet to be felt

There are some signs that headwinds are easing but economy still looks fragile

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The National (Scotland)

UK economy grows slightly in first quarter but slumps unexpectedly in March

THE UK economy marginally grew over the first quarter of the year, according to official data, despite an unexpected slump in March.

Evening Standard

Rishi Sunak ‘may fall short on pledge to halve inflation in 2023’, top think tank warns

The National Institute of Economic and Social Research reckons inflation will to fall to 5.4% by the end of the year

ABC News

RBA research finds Australia has up to an 80 per cent recession risk to get inflation under control

Previously unpublished internal research from the Reserve Bank estimates that Australia's risk of recession over this year and next could be as high as 80 per cent.

Bangkok Post

Leaders navigating an uncertain world

Business leaders across the globe are regularly asking themselves some form of the following four questions:

The New Daily

Coalition may support Labor’s cost of living measures

Cost of living measures helping struggling Australians with soaring energy and health costs in Labor's second budget may be supported by the coalition.

The Guardian - AU

PM maintains ‘we’re the party of aspiration’ – as it happened

This blog is now closed.

The Conversation

Budget spends big on support but won't make much difference to poverty

The 2023 federal budget has a strong emphasis on the cost-of-living, with a A$14.6 billion plan designed to help Australians who are “under the pump”.

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