Category Archives: Australian economy

Australia federal budget 2019: reaction to Josh Frydenberg’s first budget – as it happened

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Australia’s treasurer says the budget is ‘back in the black’. This blog is now closed

And that is where we are going to end tonight, before we all turn into pumpkins.

But don’t worry, we’ll be back early tomorrow morning for all the fallout. Plus, you know, parliament.

Mike Bowers has been out and about:

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Asian stocks slump as US recession fears grip markets

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Australian treasury yields hit a record low in a grim portent for the economy, while the Nikkei falls 3% in wider share selloff

Shares in Asia Pacific have slumped after a key market indicator flashed an “amber warning” that the United States is heading for a recession.

Bond yields also continued to fall across the world with Australian 10-year treasury yields falling to a record low on Monday of 1.756% in what analysts see as a strong indicator of a downturn hitting the resource-rich country.

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New rules for job seekers prompt warning about another ‘robodebt debacle’

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Mutual obligation overhaul welcomed but government urged not to rely on ‘automated compliance’

The government’s proposed changes to how job seekers are made to look for work while receiving welfare have been mostly welcomed by stakeholders – although it’s also been warned against creating another “robodebt” scenario through an overreliance on automation.

Kelly O’Dwyer announced the biggest overhaul in mutual obligation requirements for 20 years on Wednesday, with the government to free job seekers from having to apply for 20 positions a month, as well as allowing job hunters to look for work online.

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Australian house prices down in every capital city except Adelaide and Hobart

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ABS data shows capital city prices fell 2.4% in December quarter and 5.1% over 2018

Home prices across Australia’s capital cities fell by 2.4% in the three months to December, trimming the total value of the country’s dwellings to $6.7tn.

Prices fell 5.1% across the whole of 2018, according to the Australian Bureau of Statistics’ Residential Property Price Index, released on Tuesday.

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Muffin Break faces backlash after boss says millennials won’t do unpaid work

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Uproar comes as parliamentary inquiry into Australian franchise sector prepares final report

The cafe chain Muffin Break is facing a backlash from customers after its general manager said that entitled millennials weren’t willing to do unpaid work to get ahead.

Natalie Brennan told News Corp there was “nobody walking in my door asking for an internship, work experience or unpaid work”.

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Medical evacuation bill still alive with Phelps open to amendments – politics live

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Key crossbencher Kerryn Phelps indicates she would consider Labor’s changes to the medevac legislation. All the day’s events, live

The PMO has released the transcript of Scott Morrison’s doorstop this morning:

JOURNALIST: Prime minister, if you lose the medevac bill today, why should you not drive to Government House and call an election?

You may remember from Luke’s report yesterday, that David de Garis declined to answer how he found out about the AWU raid. Looks like shiz is about to get reeeal interesting in the federal court.

Justice Bromberg has ruled Michaelia Cash's former media adviser David De Garis will have to give evidence about who tipped him off that federal police were set to raid the AWU's offices. #auspol

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Labor caucus signs off on medical evacuations bill – as it happened

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Labor has been holding talks all day and has agreed on three principles. All the day’s events, live

And that is where we are going to call it quits tonight.

But fear not – we’ll be back in about 12 hours. It is going to be that sort of year, me thinks.

Scott Morrison and Marise Payne will hold a press conference at 8.45 tonight to talk about Hakeem al-Araibi.


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Stand by for Liberal fightback as Labor steals march in marginals

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Party will rally its base and harvest undecided voters by banging the drum on Labor’s tax measures

This weekend, I think it’s productive to take you into the world of Coalition MPs as they pack their bags anticipating the return of federal parliament next week.

The parliamentary weeks show the Morrison government at its most vulnerable because the Coalition no longer commands a majority in either chamber, but it’s not the resumption of parliament many MPs are fretting about.

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