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The Latest Breaking News from Saul Eslake

Fuel pain to last longer despite tax cut kicking in

Fuel prices won't immediately become cheaper at the bowser as a tax cut comes into effect, and might take weeks to flow through to motorists.

AAP

NSW emerges as main loser from GST carve-up as WA gets extra $5.5bn

NSW premier says latest distribution calculation, with a reduction in the state’s share of revenue relative to its population, is unfair and ‘past its use-by date’

The Guardian - AU

'Broken and unfair': states urge change to GST carve-up

The cost to Australian taxpayers of a contentious GST carve-up will rise by another $6.6 billion in 2026/27, sparking fresh anger from critics of the deal.

AAP

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Trump's new tariff call may narrow Aussie export edge

Australian exporters may lose their competitive edge in the US market if Donald Trump's global 15 per cent tariff plan goes ahead.

AAP

Three Australian millionaires say the nation’s super-rich should face higher taxes

Dick Smith, Graham Marr and Richard Barnes are the only Australians among 400 millionaires and billionaires globally to sign an open letter calling for higher taxes on the super rich

The Guardian - AU

Self-interest widening wealth gap between old and young

Bridging the gap in wealth between older and young Australians will require a major recalibration in housing attitudes and policies, a leading economist says.

AAP

Once Australia’s second priciest city, Melbourne has become more affordable. What happened – and will it last?

More homes and less property investor activity has seen Victoria’s capital rise up the affordability rankings

The Guardian - AU

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Millions of Australians eligible for 5% first home buyers scheme may be unable to afford repayments

Greens and experts argue policies that let first home buyers spend more than usual only creates more expensive housing – without lifting the proportion of homeowners

The Guardian - AU

Australia’s workers reaping greater share of national income than before pandemic

Westpac economist says tighter labour market is behind changes in how the ‘economic pie’ is divided

The Guardian - AU

Negative gearing on short-stay rentals costs Australia up to $556m a year, report estimates

Almost 170,000 homes are estimated to be operating as short-stay accommodation, which can still claim tax breaks

The Guardian - AU

As the economy slows and productivity flatlines, is Australia having another banana republic moment?

In 1986 Paul Keating warned the nation was headed towards economic disaster without reform. Now, Jim Chalmers faces a similar dilemma

The Guardian - AU

Responsibility, not legacy driving Chalmers to reform

Jim Chalmers' economic roundtable will likely present some low-hanging fruit around regulation but hefty tax reform will be more challenging for him to grasp.

AAP

Grattan on Friday: Can Jim Chalmers reap a healthy crop with the help of his big worm farm?

One observer describes next week’s economic roundtable this way: “Chalmers has opened a can of worms – and everybody has got a worm”.

The Conversation

Victoria could save nearly $500m over 10 years by scrapping greyhound racing, estimates show

Exclusive: Parliamentary Budget Office analysis shows any loss of revenue from betting would be offset by lower government spending

The Guardian - AU

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AAP

Another greyhound racing ban could see dishlickers done

It's a dog day afternoon for the greyhound racing industry as another government announces plans to stop punters spending a night at the dishlickers.

AAP

Back-to-back rate cuts tipped when Reserve Bank meets

The Reserve Bank of Australia's interest rate meeting is set to take top billing as markets expect the board to hand down another cut.

The Guardian - AU

Aukus will cost Australia $368bn. What if there was a better, cheaper defence strategy?

As questions swirl around the nuclear submarine deal, some strategists are pushing for an alternative, ‘echidna’ policy that focuses less on offensive capability

AAP

Fears super tax rise for rich will whack housing market

Slapping taxes on high superannuation balances may be well intended, but the federal government's plan could harbour some pitfalls.

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news in one place.

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The Guardian - AU

‘Don’t be fooled’: Victorian Labor is spruiking feel-good budget policies, but there are hints of cuts to come

The premier has been upbeat but there are signs of cuts to come, and one analyst warns the state’s financial strategy needs a ‘course correction’

The Guardian - AU

The housing policies of both major parties are bad for Australia’s aspiring homebuyers

The plans would exacerbate the problem they say they are trying to solve – rising property prices

AAP

Policy no quick fix with housing 'too far out of reach'

An economist has warned election policies for first homebuyers risk pushing prices up when many aspiring home owners think they're already beyond reach.

The Conversation

Election Diary: Liberal and Labor launches focus on housing, but who thinks either side can fix that crisis any time soon?

If anyone had any doubts before, Sunday’s Liberal and Labor launches highlighted that this election is an auction for votes, in particular those of the under 40s and people in the outer suburbs.

The Guardian - AU

Peter Dutton is painting a grim picture of the past three years. How do his claims stack up?

The opposition leader’s election pitch maintains Labor has presided over a litany of price rises – but experts say some problems began on Coalition’s watch

AAP

Labor gets tick on tax cut, Liberal fuel plan sputters

Labor's election tax cuts will provide a "meaningful" boost to the economy, while the coalition's fuel excise cuts have been labelled economically "silly".

AAP

Plans to help more into 'disaster' housing market

Aspiring homeowners could secure a cheaper mortgage and lower deposit by letting the government take a stake, but Peter Dutton questions whether they want to.

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