Victoria has delivered a 2021-22 State Budget that forecasts a budget deficit of $11.6 billion and steadily rising public debt levels over the next four years.
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Federal Treasurer Josh Frydenberg is banking on continued economic growth and falling unemployment to further slash his Budget deficit in 2021-22.
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Post-Covid 19, as in the post War years, another rush of immigration might be needed if Australia is to fill its skills shortages in critical industries and pursue sustainable economic growth.
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Ahead of the May 11 Budget, the Federal Government has announced an investment of more than $1 billion in its digital economy strategy.
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Federal Treasurer Josh Frydenberg has pledged to reduce the rate of unemployment to less than five per cent ahead of major repairs to the budgetary position.
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Victoria’s Belt and Road agreement with China has become a casualty of the Federal Government’s new Foreign Relations Act.
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On 11 May, Treasurer Josh Frydenberg will take centre stage in Federal Parliament to announce the forecast Budget deficit for the 2021-22 year.
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Prime Minister Scott Morrison is exploring the re-opening of some international travel under a post-vaccination scenario, seeking health advice on vaccinated returning Australians being able to avoid quarantine.
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International air travel out of Australia has taken the first steps to resumption, with flights – without quarantine – set to resume to New Zealand.
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Prime Minister Scott Morrison has unveiled a significant revamp of his ministry, with major changes to the portfolios of Attorney-General, Defence and Home Affairs.
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Australia’s JobKeeper scheme, announced almost 12 months ago, will conclude on Sunday, March 28, after providing around $90 billion during the Covid-19 response.
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Australia’s unemployment rate (seasonally adjusted) fell from 6.3 per cent to 5.8 per cent In February, boosting Federal Government hopes that the economy will be able to withstand the conclusion of JobKeeper in late March.
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Australia’s tourism and airline sectors will receive a $1.2 billion Federal Government package to support their post-Covid 19 recovery.
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A 10-year strategy has been established by the Federal Government to help manufacturers source critical minerals and resources for new technology products.
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D-day on 12 per cent compulsory superannuation is not far off.
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In January, Tasmania’s unemployment rate fell from seven per cent in December, aided by a 2.2 per cent jump in the number of payroll jobs in the second half of January; again, the nation’s highest rate of increase in jobs for the period.
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Prime Minister Scott Morrison was on Sunday among the first Australians to receive the Covid-19 vaccine, with 60,000 people due to be vaccinated this week.
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Digital giant Facebook this week reacted swiftly to plans by the Federal Government to introduce a mandatory code on news reporting in Australia.
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National Cabinet has agreed to resume the higher level of caps on international passenger arrivals from 15 February, with New South Wales continuing to take almost 50 per cent of arrivals (up to 3,010 per week).
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