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Barnaby Joyce recently said a resolution of the backpacker tax issue was imminent. Dan Peled/AAP

Backpacker tax due to go to cabinet

Federal cabinet on Tuesday is due to consider a compromise on the backpacker tax, as the government moves to clear away the issue as soon as possible.
Scott Morrison said the Moody’s affirmation was a ‘welcome boost’. Mick Tsikas/AAP

Australia’s AAA rating affirmed by Moody’s

Moody's has reaffirmed Australia's AAA credit rating, as Malcolm Turnbull seeks to put pressure on Labor and crossbenchers to pass measures to help repair the budget.
Treasurer Scott Morrison blocked the sale of the Ausgrid lease on national security grounds. Mick Tsikas/AAP

Morrison blocks Chinese bids for NSW power grid

Scott Morrison has rejected Chinese bids for the 99-year lease of 50.4% of Ausgrid, the NSW electricity distribution system, for security reasons.
After the Reserve Bank cut the cash rate by 25 basis points to 1.5%, the four big banks said they would pass on only part of the reduction. Paul Miller/AAP

Turnbull to banks: pass on whole interest rate cut

Malcolm Turnbull has sternly told the banks they should pass on the whole of Tuesday's rate cut - or their chief executives must explain why they are not doing so.
The RBA has cut rates to try and stimulate inflation and growth. Dean Lewins/AAP

Economists react: RBA cuts rates to 1.5%

Economists are divided on whether the latest interest rate cut to 1.5% was needed, as the RBA tries to boost inflation and growth.
Scott Morrison and Mathias Cormann have announced the Coalition’s election costings. Adrian Muscat/AAP

Coalition squeezes welfare lemon again

A $2 billion welfare crackdown is the main contributor to new savings announced by the government to improve the budget by $1.1 billion across the forward estimates.
Chris Bowen and Tony Burke put out Labor’s costings just after Malcolm Turnbull’s official launch of the Coalition’s campaign. Dan Peled/AAP

Labor costings: ALP deficit $16.5 billion higher over the budget period

Labor has unveiled its costings, showing it would have a deficit of around $16 billion higher across the forward estimates than that shown in the Pre-election Economic and Fiscal Outlook.
Chris Bowen stressed that Labor’s fiscal program, when fully released, would ‘see us return to budget balance in exactly the same time frame as the government’. Mick Tsikas/AAP

Labor to release savings package

The opposition will attempt to strengthen its economic credentials by announcing on Friday a package of savings to help pay for its policies and improve the budget bottom line.
Barnaby Joyce has announced an assistance package for beleaguered dairy farmers. Mick Tsikas/AAP

Dairy farmers get $555 million in concessional loans

Agriculture Minister Barnaby Joyce has announced a package of concessional loans and facilitation of access to assistance for the beleaguered dairy industry.