The federal government will start to reduce and then end its financial support to NSW businesses as the state hits its key vaccination targets.
Lockdowns across NSW,the ACT and Victoria have knocked $2 billion from east coast retailers’ cash registers. Their hopes turn on a strong Christmas.
The sharp downgrade is the biggest of any country measured by the OECD in its interim economic outlook as the Delta outbreaks continue to leave major cities in lockdown.
Even the government’s tax cuts won’t stop Australians from facing higher average tax rates over the next decade,the Parliamentary Budget Office has revealed.
Research shows women have borne the brunt of lockdowns,but there is hope they will get back into work more quickly than men,and maybe with better pay.
RBA governor Philip Lowe says the economy will recover quickly from current lockdowns while pushing back against expectations the bank will start to lift rates in 2022.
RBA governor Philip Lowe has taken a “glass half full” approach to the pandemic. He will use a speech on Tuesday to talk up the country’s long-term prospects.
The ATO stopped or identified more than $1 billion in questionable payments under the federal government’s JobKeeper wage subsidy program,saying the level of wrongful claims under the massive scheme was “extremely low”.
The central bank will pump billions of dollars more into buying government debt amid warnings of a short-term hit to the nation’s jobs market.
The prospect of an election early next year focused on the economy is a strong one. But on that front,the government would have noticed two worrying trends.
The crude rule of thumb that says a recession is not a recession until you have two consecutive quarters of GDP contraction is misleading.