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The Latest Breaking News from Steven Hamilton

Grattan on Friday: New parliament presents traps for Albanese and Ley

Anthony Albanese hasn’t been in any rush to convene the new parliament, which Governor-General Sam Mostyn will open on Tuesday.

The Conversation

Parties eye votes in 'over the top' spending blitz

Despite promising good economic management, major parties have thrown billions at voters in pre-election sweeteners amid competing pitches for first homebuyers.

AAP

Dire stat demands 'urgent reform' from election winner

Whoever forms government after the election will need to deliver substantive reform to fix Australia's long-term productivity challenge, economists say.

AAP

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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

Calls grow to banish 'anti-democratic' bracket creep

Economists have backed a teal proposal to index income tax thresholds to end bracket creep, which is placing an increased burden on working Australians.

AAP

Economists less confident of RBA rate cut than market

An AAP survey of 32 leading Australian economists has tipped the Reserve Bank to cut interest rates this week, but more than one in five remain unconvinced.

AAP

IRS is cracking down on your online income. What to know

Millions more taxpayers with online side hustles will receive 1099-K tax forms this month

The Independent UK

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Coalition’s nuclear plan will hit Earth with 1.7bn extra tonnes of CO2 before 2050, experts warn

Peter Dutton’s path ‘would be an absolute failure’ in decarbonising the electricity sector and meeting Australia’s emission targets, analyst says

The Guardian - AU

How do economists judge Australia’s response to the COVID pandemic?

It was only a matter of time before someone wrote a book about Australia’s response to the COVID-19 pandemic. I was expecting it to come from an eminent epidemiologist or public health expert, but it has been written by two economists. As an epidemiologist who covered the pandemic closely for…

The Conversation

Grattan on Friday: Experts want Albanese to lead on indoor air quality as part of pandemic planning

Last month, a delegation led by Brendan Crabb, head of the Burnet Institute, a prestigious medical research body, met Anthony Albanese in the prime minister’s parliament house office.

The Conversation

Politics with Michelle Grattan: Richard Holden says no interest rate fall likely for 12 months

For many Australians, the COVID-19 pandemic has become a fading memory as the world has moved away from lockdowns and masks. However, its lasting impacts, including persistent inflation, remain.

The Conversation

What US Economic Measures Can Be Expected If Trump Is Reelected?

Former US president Donald Trump campaigned on the economy during his failed reelection bid in 2020 and it remains a major theme in his push to retake the White House again in 2024.

International Business Times

'We spent £340k on the UK's priciest gender reveal with cars matching our baby's name'

A couple who wanted to throw an extravagant gender reveal party did not hold back with their budget, announcing their baby's gender by unveiling a high-end Lamborghini

Daily Mirror

Do the PRRT changes in the budget go far enough to fix a 'broken' Petroleum Resource Rent Tax?

Economists and energy experts say the government is short-changing Australians with planned changes to the Petroleum Resource Rent Tax that will only raise an additional $2.4 billion over five years.

ABC News

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Newcastle Herald

The federal budget must walk a tightrope amid cost of living fight

Easier said than done when interest rates rose again in May.

The New Daily

Relief on the way from soaring power bills

Millions of people are in line for energy bill relief in the budget as the government promises hundreds of dollars in savings

ABC News

Will the Reserve Bank review achieve anything? What difference could it make to interest rates?

A government-ordered review of the Reserve Bank — the first in more than a generation — is expected to ask searching questions of our key financial institution. The leadership of the central bank, the composition of its board, missed targets and broken promises are all elements under examination.

The Independent UK

Amid end to COVID help, homelessness surging in many cities

Homelessness is expected to be up when the federal government releases results from an annual count in coming months, the first full tally since the coronavirus pandemic began

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The Independent UK

Amid end to COVID help, homelessness surging in many cities

Homelessness is expected to be up when the federal government releases results from an annual count in coming months, the first full tally since the coronavirus pandemic began

The New Daily

Foreign investor crackdown to deliver $455 million windfall – but not without costs

Fees paid by foreign property investors will double under a new federal government plan to help ease Australia’s housing affordability crisis.

ABC News

As fixed mortgages end and rates rise, many risk losing their homes

Almost 40 per cent of Australians with mortgages who have locked in ultra-low fixed interest rates will roll off them as soon as next year, raising fears that more people will default on their loans, creating financial system instability.

The New Daily

‘A taste of what’s to come’: Home owners slugged with second rate hike

Home owners could see their monthly mortgage bills rise by hundreds of dollars in coming weeks after a second RBA rate hike in as many months.

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:

ABC News

Intergenerational inequality to rise as tax and welfare perks target older voters, experts warn

Benefits available to older, wealthier people are outweighing the support given to younger people, with election policies from both major parties set to worsen the situation, according to experts.

ABC News

Will lifting the minimum wage worsen inflation and raise interest rates?

Wages have become the latest battleground in the election, with debate raging about how much extra workers can get paid without sending businesses broke and consumer prices soaring.

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