Australia’s federal budget position for 2022-23 is on course to deliver a sharp reduction on the $37 billion deficit originally forecast in the October budget, according to latest figures from the Department of Finance.
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If you’re looking for reasons why Australia’s economy has remained resilient over the past three years, one place to start is the relative strength of the agricultural sector.
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China may be Australia’s largest trading partner by some margin, but the level of new inbound commercial investment is dominated by one continent: North America.
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Despite ongoing trade bans, China remained Australia’s largest trading partner in 2021-22, according to official data.
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Australia’s economy has continued its growth path, with gross domestic product (GDP) rising 0.6 per cent in the September quarter, or 5.9 per cent over 12 months.
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Defence Minister Richard Marles and Foreign Affairs Minister Penny Wong are due to hold major talks this week with their United States and Japanese counterparts on defence and security co-operation.
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Daniel Andrews’ Labor Government has been easily re-elected in Victoria, securing a third term with a likely majority of up to 12 seats.
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Federal Education Minister Jason Clare has announced a comprehensive review of Australia’s higher education system.
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Deputy Prime Minister Richard Marles says Australia’s Defence force must be able to demonstrate to the public the quality of its expenditure and cannot be exempt from normal budgetary processes.
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The Australian Cyber Security Centre (ACSC) has reported receiving more than 76,000 cybercrime reports in 2020-21, up almost 13 per cent, or one report every seven minutes.
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Less than 24 hours after the Federal Budget warned on rising price pressures, official figures showed that in the September quarter Australia recorded its highest annual inflation rate for more than 30 years.
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Federal Treasurer Jim Chalmers has used his first Budget speech to flag major reforms to restore the nation’s fiscal buffers amid the challenges of soaring energy prices and rising inflation.
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Assistant Defence Minister Matt Thistlethwaite has used a cyber industry conference to remind the defence sector of the growing threat of cyber attacks.
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On November 8, US voters head to the ballot box for the mid-term elections for the House of Representatives and the Senate.
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Defence Minister Richard Marles has flagged a major overhaul of spending controls in Defence projects, citing significant schedule delays and budget variations.
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Australia’s inflation rate remains persistently above the six per cent mark, according to latest data from the Australian Bureau of Statistics (ABS).
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Treasurer Jim Chalmers has confirmed that the Federal Budget deficit for 2021-22 will be slashed by almost $50 billion on the pre-election estimate of $79.8 billion, thanks to ongoing strong export commodity prices and low unemployment.
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A record 6.5 per cent of all employed people, or around 900,000 people, held multiple jobs in the June quarter, according to the Australian Bureau of Statistics (ABS).
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Australia’s economy has withstood pandemic disruptions and rising consumer costs to record real annual GDP growth of 3.6 per cent in 2021-22, with economic growth of 0.9 per cent in the June quarter.
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Australia will immediately raise the annual level of permanent planned migration to 195,000 (from 160,000) to address critical skills shortages, in one of the major outcomes from the Jobs and Skills Summit.
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