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The Latest Breaking News from Saul Eslake

MPs lean on Anthony Albanese, but dumping of tax cuts quashed

Senior Labor sources last night quashed speculation that the government was giving itself room to dump the controversial stage three tax cuts.

The New Daily

Stamp duty or land tax? Economists say the one that makes the most sense is politically toxic

The Tasmanian Premier stood up in parliament and refused to rule out a switch from stamp duty to a land tax on the family home, but a hasty statement shortly afterwards saying there were no such plans has economists scratching their heads.

ABC News

Sally McManus says labour's share of GDP is the lowest it's been since 1960. Is that correct?

ACTU secretary Sally McManus says worker's share of wealth is the lowest it's ever been, pointing to the labour's share of income statistics as evidence. RMIT ABC Fact Check investigates.

ABC News

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‘Turning point’: Business collapses spike but local recession still unlikely, say economists

The number of businesses falling into administration spiked in July as economists warn the economy is headed towards a “turning point”.

The New Daily

Mortgage bills to jump $140 in August as inflation worsens

Home owners will be slapped with another painful mortgage squeeze in August after the Reserve Bank hiked interest rates to a six-year high on Tuesday.

The New Daily

‘Red hot’: Typical mortgage bills to rise $140 in August as inflation surges

Typical monthly mortgage bills are expected to rise another $140 next week after new data showed inflation continued rising in the June quarter.

The New Daily

‘Inflation spiral’: Price rises broaden as households face supermarket squeeze

Households are being squeezed at the petrol pump and increasingly at the supermarket as Australia's cost-of-living crisis continues to worsen.

The New Daily

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Why superannuation might be your best investment despite a tough year

Superannuation funds went backwards by 3.3 per cent last financial year, but your super fund is likely earning you more than you could make elsewhere.

The New Daily

The Reserve Bank will face a major review. Here’s what that means

Australia’s inflation target and why the Reserve Bank has failed to achieve it will be probed in the biggest review of the central bank in decades.

The New Daily

Mortgage holders should brace for short-term pain as RBA signals steady interest rate rises to tackle inflation

Philip Lowe says reserve bank looking for its ‘neutral rate’ which could see cash rate almost double in coming months

The Guardian - AU

Inflation blame game: Are soaring profits pushing up prices?

What, or whom, is to blame for the worst cost-of-living crisis in decades? New analysis has pointed the finger at greedy businesses.

The New Daily

Labor pledge to scrap the cashless debit card will save budget $286.5m over four years

Government’s election promises will add $6.9bn to deficits over four years, Parliamentary Budget Office says

The Guardian - AU

‘Inflationary storm’: RBA hikes interest rates to contain fallout as prices surge

The Reserve Bank has slapped households with another painful interest rates hike in July as it tries to curb soaring inflation.

The New Daily

Shares, property, bonds, cryptocurrencies face major falls, Australian Office of Financial Management CEO warns

Australian Office of Financial Management CEO Rob Nicholl says a decade of record-low interest rates and money-printing programs across the world is coming to an end and the impact will be major.

ABC News

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The New Daily

More interest rate pain: RBA’s sobering inflation warning to households

Australians must brace for several years of high inflation and rising interest rates, Reserve Bank governor Philip Lowe warned in a speech on Tuesday.

ABC News

Where did the RBA find evidence of wage growth?

The Reserve Bank of Australia is facing a federal government review, and we found one good reason for it: Wages growth data has come from a source that an expert called not "statistically valid".

The Conversation

Open letter: the RBA review needs to be completely independent of government

This is the text of an open letter from 12 leading economists, sent on Sunday:

The Guardian - AU

Jim Chalmers banks on capital spending to help ease cost-of-living crisis

New treasurer says Labor is ‘not contemplating’ extending fuel excise cut or low and middle income tax offset

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ABC News

Should you leave your money in superannuation or put it towards a deposit for a first home?

Allowing first home buyers to draw their superannuation will likely, over time, push up house prices, according to many leading economists, but are you better off leaving your money in your super fund or pulling it out for a home deposit?

The Guardian - AU

Coalition super housing policy likely to inflate prices by increasing demand, analysts say

Saul Eslake points to ‘unambiguous and unequivocal evidence’ showing such policies lift prices rather than home ownership

ABC News

Government minister admits first home buyer policy would push up house prices, PM says other policies would balance it out

Jane Hume concedes the policy would see house prices increase "temporarily", something economists and the opposition are warning will happen.

The New Daily

Paul Keating attacks Coalition’s super for housing policy as economists warn of soaring prices

A Coalition plan to allow first-home buyers to use their superannuation to buy property has been slammed by Paul Keating as a "frontal assault" on super.

The Guardian - AU

Markets turmoil and interest rate rises: the economic challenges facing Australia after the election

Soaring energy costs, stagflation fears and calls for higher wages are just some of the bumps in the road awaiting a new or returned government

AAP

Vic to spend $12b on health post-COVID

Stretched to its limits over the past two years, Victoria's health system will receive a $12 billion boost as part of this year's pre-election budget.

The Guardian - AU

Will the RBA lift the cash rate this week to counter inflation – or wait until after the election?

Analysis: The Reserve Bank of Australia finds itself in a strategic and political bind. Credibility is at stake

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