Economy

China’s apparent backflip over Australia could be disastrous

The news is full of new concessions from China to Australia. China appears to be reversing its shadow-ban on importing Aussie coal that wiped $1 billion off Australia’s balance sheet. This backflip is a revealing outrun of events given the past five years of China’s attempt to strangle Australia’s economy. The Chinese assault took a range of forms from trade ...

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Anthony Albanese needs Greens, Jacqui Lambie and David Pocock onside for

Anthony Albanese is gearing up for a senate showdown this week when parliament is recalled to deal with the energy crisis. National cabinet on Friday agreed to “extraordinary” temporary measures to target soaring energy bills, with the government now seeking to impose a price cap on both coal and gas and offer subsidies to vulnerable Australians. If the legislation was ...

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Australian gross domestic product expands in September quarter

The Australian economy expanded again in the third quarter of this year, but high inflation spells trouble for the months ahead. Figures from the Australian Bureau of Statistic show gross domestic product grew for a fourth consecutive quarter in the September quarter, lifting by 0.6 per cent — slightly below what economists were expecting. The economy grew by 5.9 per ...

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Millions could get Centrelink boost under new deal to support Albo’s workplace relations laws

Five million Australians on income support could soon see a boost to their Centrelink payments under a deal struck on the government’s contentious workplace relations reform. The deal with independent senator David Pocock to support the industrial relations bill will establish an “economic inclusion advisory committee” to review welfare payments and provide advice prior to each federal budget. Senator Pocock, ...

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Economy worries: five money mistakes to avoid in a recession

Our next-door neighbour New Zealand is heading into a recession in 2023 thanks to more big interest rate rises there, and the dreaded R-word is hanging over the US and many other companies. While Australia walks a tightrope to try to avoid its economy sliding backwards, the Kiwi central bank last week forecast a significant recession as it lifted its ...

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