The federal government has posted a smaller than expected budget deficit, putting them on track to deliver a surplus this financial year. Despite predicting a $4.2 billion deficit for 2019-20, Treasurer Josh Frydenberg says the budget is back in balance after announcing a deficit of just $690 million. Chief Economist at Deloitte Access Economics Chris […]

US President Donald Trump has slammed the US Federal Reserve’s decision to cut interest rates. The Federal Reserve has lowered interest rates for only the second time since 2008, this time by 25 basis points. The move was lambasted by President Trump, who took to Twitter to declare the move a “fail”. Jay Powell and […]

Two fierce airline rivals have joined forces against excessive fees charged by Australian monopoly-owned major airports.  Qantas CEO Alan Joyce and Virgin Boss Paul Scurrah have argued airport owners are charging excessive fees and making airline travel more expensive. The rival bosses told the Canberra Press Club the high charges are holding back Australia’s productivity. Mr […]

The competition watchdog believes Australian courts don’t understand the impact a concentrated market has on the economy amid its fight to stop mergers. ACCC Chairman Rod Sims has said Australian courts fail to understand how markets dominated by a handful of look-alike companies are harming the economy. He also announced his intention to launch an […]

Economists say the property market is starting to stabilise as the major cities experience a small fall in prices. The Australian Bureau of Statistics reported residential property prices fell 0.7 per cent nationally in the June quarter, which is a small fall compared to the last few quarters. Independent Property Economist Andrew Wilson tells John […]

The government will seek to overturn a landmark court decision which has changed the way personal leave is calculated. Industrial Relations Minister Christian Porter says the government will seek an appeal in the High Court because the ruling had caused confusion when calculating sick leave. The ruling against manufacturer Mondelez found the Fair Work Act’s […]