The federal budget is headed for a small $1.1 billion deficit this financial year, according to the update released by Treasurer Jim Chalmers and Finance Minister Katy Gallagher on Wednesday morning. This is an improvement of $12.8 billion compared to the deficit forecast in the May budget. It suggests the final figure for the financial […]
Government to spend $11.3 billion over four years to fund 15% pay rise for aged care workers
Tuesday’s budget will include $11.3 billion over four years to fund the 15% pay rise aged care workers will receive from July 1. The rise was awarded by the Fair Work Commission. Labor committed at last year’s election to fully fund a rise in pay for this sector. Given acute staff shortages, it is hoped […]
GOP shutdown threat is the wrong way to win a budget war − history shows a better strategy for reducing the deficit
Congress has just days to keep the federal government from grinding to a halt, and a last-minute deal seems increasingly unlikely. The problem is that lawmakers need to pass a dozen appropriations bills – or a single continuing resolution – by Sept. 30, 2023, in order to keep the government’s lights on. But a key […]