The head of Treasury says while soft consumer spending will lead to subdued economic growth,household budgets will fare better in the second half of the year.
The head of the federal Treasury,Steven Kennedy,says bracket creep has been a helpful stabilising force over the past three years.
The data comes as Treasury secretary Steven Kennedy warns the Australian economy may have already entered a weak period of growth.
Given the current mood of the Senate,the latest round of estimates hearing is unlikely to throw up any good news for the professional services firm.
How to respond when a shock rattles the economic holy grail of the price mechanism?
Inflation and interest rates have consumers planning to slice Christmas spending amid warnings the global economic outlook is deteriorating.
Anthony Albanese won office by making himself a small target. If he follows the advice of the Treasury secretary,the government will soon become a big target.
Treasury boss Steven Kennedy,who also sits on the RBA board,has warned interest rates will have to go up as the economy recovers strongly from the COVID-19 recession.
Federal Treasury has not modelled the effects of climate change on Australia’s economy for years and had limited involvement in measuring the economic effects of net zero by 2050.
Treasury secretary Steven Kennedy expects workers’ wages would rise in real terms over the next four years if looming increases in the superannuation guarantee were scrapped.
A return to open international borders and a well-balanced migration program is in Australia’s interests,the federal government’s top economic adviser says.