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Even as children, people create this big picture in their minds — a reflection of how they envision their life to be. Whether your big picture is similar to what’s called the Australian Dream (home ownership as the key to a better life) or not depends a...

Australia’s finances have been downgraded by $21.8 billion as rising spending and plunging tax receipts set up a decade of budget deficits. The degraded fiscal bottom line was laid bare in Wednesday’s mid-year economic and fiscal outlook, which updates the forecasts made in May’s federal budget. The...

KEY FORECASTS FOR AUSTRALIA’S ECONOMY: * The economy is expected to grow at 1.75 per cent in 2024/25, before recording real GDP growth of 2.25 per cent, 2.5 per cent and 2.75 per cent in the years following * Unemployment is expected to rise to 4.5 per...

Major cost-of-living measures aren’t on the cards in the federal budget update because of a $25 billion hit to the books, as data reveals new drags on the bottom line. The mid-year economic and fiscal outlook will show more than $16 billion in automatic spending increases...