Workers will wait two more years for a lift in real wages after the Albanese government’s first budget warned inflation would outstrip pay growth until 2024/25. Treasury predictions in Tuesday’s 2022/23 budget see the tight labour market pushing wages growth to 3.75 per cent in 2022/23...
Retail electricity prices are expected by rise by 50 per cent over the next two years, dealing households and businesses another cost-of-living blow. Treasury has assumed in the federal budget that retail power prices will increase by an average of 20 per cent nationally in late...
Long-awaited aged care reforms are set to be delivered thanks to a multi-billion dollar boost. The federal budget shows $2.5 billion will be spent over the next four years to ensure all aged care facilities have a registered nurse onsite around the clock. The funding, a major...
Inflation has surged to 7.3 per cent annually in the September quarter as supply chain bottlenecks, high energy prices and expensive freight continues to drive up the cost of living. Inflation over the quarter hit 1.8 per cent, according to data from the national statistics bureau. Underlying...
Federal budget tax cuts for electric cars and moves to create a national electric vehicle charging network in Australia have been welcomed by motoring and environmental groups overnight. The policies could shave $4700 off the cost of buying an electric car for an individual and $9000...
The local share market has managed to eke out some small gains despite inflation coming in hotter than expected, raising the possibility of a pivot back to more aggressive rate hikes. The benchmark S&P/ASX200 index finished Wednesday up 12.3 points to 6810.9, a gain of 0.18...