Angus Taylor

The Labor government has directed the Future Fund to consider investments in housing, infrastructure, and green energy.

The opposition has called for clarity regarding what ‘essential’ items will come under the proposed law.

Shadow Treasurer Angus Taylor cautions that while the bill may tackle competition issues, it risks adding red tape, compliance costs, and stifling innovation.

Australian Bureau of Statistics on Oct. 30, revealed a drop in inflation to 2.8 percent, the lowest level recorded in almost 4 years.

Taylor accused the government of mismanaging inflation, while Gallagher claimed it has dropped by half since the Liberals’ departure.

In contrast to Taylor’s claims, Chalmers stated that the surplus was achieved not by increasing taxes but by reducing spending.

The minister’s comments come as new ABS figures reveal a 3-year-low for Australia’s inflation rate.

Bullock stated that Australia sets its interest rates based on domestic circumstances, noting that we have been less restrictive compared to some others.

The opposition warns the reform may result in a ’sack and stack' approach.

The treasurer said the UK, Canada, and NZ had higher unemployment, and interest rates than Australia.

‘Our focus is on making the right decisions for the right time,’ Finance Minister Katy Gallagher said.

‘This quarter’s current account deficit reflects continued falls in bulk commodity prices and higher income paid to non-residents,’ ABS’s Tom Lay said.

Chalmers aims for the Bill to pass this year so the new Reserve Bank board can be operational from the start of 2025.

The Opposition has warned the new measures could create an extra $2.3 billion in compliance costs for Australian businesses.

The US Federal Reserve has signalled cuts at its next meeting in September. The question now is: will the RBA follow suit next week, as many predict?

The Reserve Bank of Australia will study a range of data as the nation waits to see if another interest rates rise will arrive in August.

The regulator will establish a credit-trading platform that automakers could use to avoid financial penalties.

The opposition, however, argues the budget ‘does nothing to help Australians get ahead and to restore their standard of living.’

Finance Minister Katy Gallagher says while the decision has been made, it hasn’t been finalised because a campaign was not yet in place.

Breaking a promise can be electoral poison for a government, that’s if, the opposition uses it properly.