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The Latest Breaking News from Federal Budget

Amid a STEM crisis, here's what the 2023 budget promises for Australian science and innovation

Australian innovation has the capacity to protect us – our environment, our digital world, our borders and our health. All of these are focuses of this year’s federal budget.

The Conversation

Economists say federal budget unlikely to have much effect on interest rates

While the 2023 budget is unlikely to budge the RBA, experts are watching for inflationary pressure from a population boom and energy prices

The Guardian - AU

The aged-care budget delivers for workers but meeting our future needs will require bold funding reforms

The 2023-24 federal budget takes a step in the right direction for aged care, with a much-needed pay boost for workers in the sector.

The Conversation

From analysis to the latest developments in health,
read the most diverse news in one place.

Australian government rejects concerns budget may worsen inflation

Australia's Labor government said on Wednesday the billions in cost-of-living relief unveiled in the federal budget for families and businesses will not worsen inflationary pressures and put more pressure on the central bank to lift rates further.

Reuters

Urgent warning amid spike in budget scam texts

Scammers are using the federal budget to target financially stressed Australians, with a wave of deceitful texts prompting a warning.

The New Daily

ASX follows Wall Street lower, United States threatens to hit debt ceiling soon

The Australian share market slips, weighed down by financial and energy stocks, as both sides of US politics fail to resolve their debt ceiling stand-off.

ABC News

Federal budget 2023: Does a budget focused on the cost of living mean inflation and interest rates could get worse?

Treasurer Jim Chalmers is adamant that his budget will not make inflation worse and force the Reserve Bank's hand on interest rates — but economists are divided, with some saying it paves the way for a rate hike in the coming months.

ABC News

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'A sigh of relief': Hunter leaders share their views on the budget

Slashing cost-of-living pressures is a central feature of Labor's Federal Budget announcement which politicians and Hunter leaders have lauded as a win for locals.

Newcastle Herald

Biden Falsely Bragged About Lowering the Budget Deficit. Now, It Is Predictably Rising Again.

Last year, Biden was trying to take credit for "the largest drop ever" in the federal budget deficit. Now, the deficit is almost three times as large as it was a year ago.

Reason

Australia’s post-pandemic surge in net overseas migration temporary, federal budget predicts

Most of the increase is attributed to the return of overseas students, skilled temporary visa holders and working holiday makers

The Guardian - AU

Federal budget 2023: The winners and losers in Treasurer’s cost-of-living budget

Treasurer Jim Chalmers pledged billions in new spending to help families navigate the cost-of-living crisis in his second budget.

The New Daily

Eleven things you shouldn’t miss in more than 1,000 pages of 2023 federal budget papers

We scour the reams of documents for interesting bits that might otherwise get overlooked

The Guardian - AU

From boomers to Gen Z: how the federal budget affects the generations

Younger Australians feared the budget would further entrench generational inequality. Four Guardian Australia reporters reflect on what it offers their age group

The Guardian - AU

What's in the federal budget to help ease the housing affordability crisis?

More than one million low-income renters will soon get an increase to their Commonwealth Rental Assistance payment under a new measure announced in the budget.

ABC News

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The Guardian - AU

Federal budget 2023: winners and losers summary

Some renters and welfare recipients will benefit, while middle-income renters, smokers and scammers will be worse off

The New Daily

Federal budget 2023: Here’s what’s in it for you

Treasurer Jim Chalmers' second federal budget has been headlined by healthcare reform and a huge boost in welfare payments.

The Guardian - AU

Government banks on revenue from tobacco crackdown and GST compliance to bring in billions in federal budget

Revenue to be boosted by $134.8bn due to higher personal income taxes buoyed by higher wages, higher company taxes and commodity prices

The Guardian - AU

Inflation rate to halve, bringing wage growth by 2024, federal budget predicts – with hope of mortgage relief

Australia’s economy remains resilient as global growth slows to its worst performance in more than two decades

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The Guardian - AU

Federal budget 2023: Jim Chalmers delivers surprise $5bn Medicare boost and cost-of-living help for Australians ‘under the pump’

Treasurer aims to strike a ‘methodical balance’ to see people through the hard times while setting the country up for a better future

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”.

ABC News

The federal budget promises $14.6 billion in cost-of-living relief. Where is it going, and who will be eligible for support?

The federal budget includes billions in "targeted relief" for the most vulnerable Australians. Here's where the funds are going.

ABC News

Federal budget 2023: Winners and Losers

More money for JobSeeker, bulk-billing and spies, but more taxes on smokers and travellers. Find out who is up and who is down in the second federal budget delivered by Treasurer Jim Chalmers.

ABC News

Federal budget summary: JobSeeker and welfare payments increased as living costs bite

A modest increase in unemployment benefits and cheaper healthcare are the centrepieces of a federal budget tasked with helping the nation's most vulnerable at a time when living costs are hurting households.

ABC News

Increase in JobSeeker and rent assistance confirmed ahead of tonight's federal budget

The government has confirmed that tonight's federal budget will include an increase to the JobSeeker base rate, rent assistance, Austudy and Youth Allowance.

ABC News

Federal budget 2023: Treasurer reveals $40 fortnightly JobSeeker rise, boost to bulk billing and rental assistance — as it happened

Treasurer Jim Chalmers delivers this year's federal budget, with a focus on cost of living and health. Look back on Tuesday's updates.

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