Download IPFS Economists are quietly pushing for an increase to Australia’s 10% Goods and Services Tax (GST) as the federal budget faces a $80 billion structural deficit, but politicians remain allergic to the conversation. With income tax accounting for over half of government revenue and Treasurer Jim Chalmers seeking to[Read More…]

Download IPFS Australia’s productivity crisis and cost-of-living pressures stem from four decades of unchecked wealth concentration, with the top 10% of households now controlling 44% of the nation’s wealth. As Treasurer Jim Chalmers prepares for a national productivity roundtable, economists warn that “rent-seeking” behavior – where wealth grows through asset[Read More…]

The Australian Securities Exchange (ASX) is set to climb, with futures pointing to a 57-point gain, or 0.7%, following Wall Street’s advance on July 14, 2025. Doubts over U.S. President Donald Trump’s proposed tariffs, delayed to August 1, have eased market fears, but concerns linger about economic fallout. This article[Read More…]

Australia’s economic stability hinges on its reliance on iron ore exports to China, a vulnerability exposed by China’s potential shift away from coal and steel, as warned by experts in July 2025. This critical juncture demands diversification to secure prosperity, but the Labor government’s policies are under fire for failing[Read More…]

Australia’s cost-of-living and productivity crises demand bold action, but critics warn that “neoliberalism lite”—incremental market reforms—falls short, as wealth concentration stifles economic growth. As inflation and stagnant wages squeeze households, addressing inequality is critical, yet the Labor government’s approach is criticized for lacking vision. Australia’s economy faces a dual challenge:[Read More…]

SYDNEY—One of Australia’s best-known fashion brands is scaling back its physical presence, confirming it will close multiple flagship outlets across key CBD (Central Business District) locations over the coming months. Executives cite persistent declines in foot traffic, shifting consumer spending habits, and mounting operational costs as the driving forces behind[Read More…]

BEIJING—Prime Minister Anthony Albanese met with top Chinese steel industry representatives this week to reaffirm Australia’s role as a trusted supplier of iron ore, even as China accelerates its push toward decarbonization. The diplomatic outreach comes at a time when global steelmakers face regulatory pressure to reduce emissions, potentially altering[Read More…]

SYDNEY—Australia is nearing an economic tipping point, with top economists and business leaders calling for immediate and strategic decisions that could define the nation’s financial trajectory for the next decade. At the heart of the debate is the government’s direction on industrial development, tax reform, and national energy policy—all of[Read More…]

A man has been taken into custody following a dangerous early-morning police pursuit through Melbourne’s southeast suburbs. The incident involved a stolen vehicle that reached extreme speeds before coming to a halt in Noble Park. Authorities began tracking the vehicle, a Jeep Cherokee, around 3 a.m. Monday morning, after it[Read More…]