The Latest Breaking News from Federal Budget

The federal budget is headed for a small $1.1 billion deficit this financial year, according to the update released by Treasurer Jim Chalmers and Finance Minister Katy Gallagher on Wednesday morning.

Mid-year economic and fiscal outlook reveals $12.8bn improvement in budget bottom line due to strong labour market and commodity prices

The federal budget is looking healthy thanks to a surprise revenue boost but inflation is proving persistent and is continuing to hurt household finances.

State and federal treasurers are yet to reach an agreement on the GST no worse off guarantee but talks are set to continue at national cabinet next week.

The federal government has backed its inflation-fighting policies as the opposition says Labor's perception of price pressures is at odds with the Reserve Bank.

Tech giant IBM has pulled its ads from X after they were run alongside pro-Nazi posts. The news comes after Elon Musk endorsed an anti-Semitic post on the platform. Meanwhile, the largest semiconductor equipment maker in the US, Applied Materials, is under criminal investigation for potentially evading export restrictions on…

Once again, federal budget negotiations are down to the last minute, and once again, GOP hardliners are in the middle of what might turn into a gridlock.

According to Bloomberg analysis, estimated annualized interest payments on U.S. government debt climbed past $1 trillion at the end of October. That amount has doubled in the past 19 months and is equivalent to 15.9% of the entire Federal budget for fiscal year 2022. The increasing debt load may pressure...

It's not the first time that has happened, but there are key differences about what happened this year.

House Republicans released a long-delayed budget blueprint Tuesday that promises to bring the federal budget into balance over a decade.

Balanced federal budgets aren’t even considered as a possibility.