Australia's inflation rate has clocked its first annual increase in 18 months but borrowers can breath easy as it was unlikely to trigger another rate hike.
An overhaul of the petroleum resource rent tax will make a meaningful contribution to the budget and help get Australia's finances back on track, Treasurer Jim Chalmers says.
The global economy is suffering the lowest growth rate in almost two decades and casting a shadow over the upcoming federal budget, the treasurer warns.
The federal opposition left behind a range of unfunded "zombie measures" that will pile more pressure on already-stretched finances, the treasurer says.
A majority of voters approve of the government's superannuation tax plan but Labor and Prime Minister Anthony Albanese have been marked down, the latest Newspoll shows.
Australian borrowers have been hit with a ninth cash rate rise in a row, putting more pressure on squeezed mortgage holders as the Reserve Bank tries to stem inflation.
Federal treasurer Jim Chalmers has laid the groundwork for future belt tightening in his first federal budget, while outlining cost of living help and extra spending on health and housing.
The federal government believes itself ready to launch into the difficult task of budget repair after inheriting a structural deficit and record levels of debt.
Debate rages over whether Labor is considering amending legislated tax cuts but Prime Minister Anthony Albanese says there are no plans to change course.
