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The Latest Breaking News on Economy

Degrowth isn't the same as a recession – it's an alternative to growing the economy forever

The UK economy unexpectedly shrank by 0.3% in March, according to the Office of National Statistics. And though the country is likely to narrowly avoid an official recession in 2023, just as it did the previous year, the economy is projected to hit the worst growth rates since the Great…

The Conversation

‘Big business’ to be hit with new levy in Victorian state budget to help fund Covid recovery

Treasurer Tim Pallas to hand down ninth budget on Tuesday with all eyes on debt recovery plans

The Guardian - AU

Labor hails ‘strongest start for jobs growth’ of any Australian government

Analysis shows more than 330,000 jobs gained in past year, but treasurer concedes inflation needs to cool

The Guardian - AU

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Michael Pascoe: Why you might never see that ‘wage growth’ we hear about

One thing we know for sure about the RBA – it knows even less about the outlook for wage growth than it does about inflation.

The New Daily

New Zealand budget plan offers modest financial relief ahead of election

Months before an election, New Zealand’s government is offering some modest financial relief to many people by making most prescription medicines free and increasing subsidies for childcare and public transportation

The Independent UK

Unemployment rate jumps to 3.7 per cent

The official labour force report reveals the jobless rate lifted to 3.7 per cent and around 4000 jobs were lost from the economy.

The New Daily

New Zealand set to deliver no frills budget as election looms

New Zealand is set to deliver what it calls a "no frills" budget on Thursday as falling tax revenues squeeze coffers and inflation risks cap cyclone reconstruction efforts, constraining stimulus as the Labour government faces an election this year.

Reuters

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Labor urged to return employment services to public sector amid warning over mutual obligations

Union says compliance measures do more harm than good as Acoss analysis reveals they disproportionately affect vulnerable jobseekers

The Guardian - AU

Strike-hit education and health sectors struggling to recruit staff says report

Both sectors have been hit by strikes for several months in bitter disputes over pay and staffing

Wales Online

Strike-hit education and health sectors struggling to recruit staff – report

Almost half of public sector employers surveyed expect significant problems filling vacancies to continue over the next six months.

The Independent UK

OPINION - The Standard View: Without economic growth, there is no escape from the cost of living crisis

The UK economy cannot get out of first gear. Data released by the Office for National Statistics shows growth was a negligible 0.1 per cent in the first quarter of the year, with output falling by 0.3 per cent in March alone.

Evening Standard

Too early to sound the all-clear as impact of UK rate rises yet to be felt

There are some signs that headwinds are easing but economy still looks fragile

The Guardian - UK

UK economy grows slightly in first quarter but slumps unexpectedly in March

THE UK economy marginally grew over the first quarter of the year, according to official data, despite an unexpected slump in March.

The National (Scotland)

Rishi Sunak ‘may fall short on pledge to halve inflation in 2023’, top think tank warns

The National Institute of Economic and Social Research reckons inflation will to fall to 5.4% by the end of the year

Evening Standard

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ABC News

RBA research finds Australia has up to an 80 per cent recession risk to get inflation under control

Previously unpublished internal research from the Reserve Bank estimates that Australia's risk of recession over this year and next could be as high as 80 per cent.

Bangkok Post

Leaders navigating an uncertain world

Business leaders across the globe are regularly asking themselves some form of the following four questions:

The New Daily

Coalition may support Labor’s cost of living measures

Cost of living measures helping struggling Australians with soaring energy and health costs in Labor's second budget may be supported by the coalition.

The Guardian - AU

PM maintains ‘we’re the party of aspiration’ – as it happened

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The Conversation

Budget spends big on support but won't make much difference to poverty

The 2023 federal budget has a strong emphasis on the cost-of-living, with a A$14.6 billion plan designed to help Australians who are “under the pump”.

The Conversation

Budget 2023: Budgeting for difficult times is hard – just ask Chalmers

Surplus or not, the budget papers show us living through pretty awful times.

Al Jazeera

Australia flags first annual budget surplus in 15 years

Treasurer Jim Chalmers says country is on track for first surplus since the global financial crisis in 2008.

ABC News

What time is the 2023-24 federal budget? Here are the key things to watch for and what 'budget surplus' means

While the federal government has already announced several measures ahead of the big moment on Tuesday night, the full details don't drop until then. Here's a quick guide to get you up to speed with what's happening and what to watch out for.

The Independent UK

Australia forecasts first annual budget surplus in 15 years

The Australian government has forecast the nation’s first balanced annual budget in 15 years but warns that economic pressures such as inflation will push the country into deeper debt in future years

The Guardian - AU

Jobseeker must be substantially raised in the budget – and there’s a simple way to pay for it

If the stage-three tax cuts were only temporary, there would be no need to delay lifting support for those who need it most

The Guardian - AU

Inside the Canberra bubble: what happens in the federal budget media lock-up?

Are you actually locked up? Is it stressful? Do you have internet access? Amy Remeikis answers all your burning budget questions

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