Business + Economy – Research and News

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APRA chairman Wayne Byres says the inquiry will provide the CBA with change recommendations. Mick Tsikas/AAP

APRA could have investigated CBA years ago: experts

The APRA inquiry puts the regulator in the tricky position of trying to be seen to be tough on bank scandals but juggling its close relationship with the government and the CBA.
ACTU secretary Sally McManus has pushed for MPs to pass a bill to stop the phasing in of penalty rate cuts. Mick Tsikas/AAP

Sunday penalty rates to be phased down

The Fair Work Commission said reductions in rates were more significant in retail and pharmacy than in hospitality and fast food.
The government is beginning the process of changing the spending culture, Scott Morrison says. Dan Himbrechts/AAP

Budget to distinguish good and bad debt

The government will highlight in its May 9 budget a distinction between 'good' debt, incurred to boost growth, and 'bad' debt, used to finance welfare and other recurrent spending.
A Shorten government would double the screening fees on foreign investment and financial penalties that apply to foreign investment in residential real estate. Lukas Coch/AAP

Super funds targeted in Shorten’s housing affordability package

Labor will promise to ban direct borrowing by self-managed superannuation funds, as part of a housing affordability policy released on Friday.
The report says young people are much more likely to be in casual and part-time work than at the turn of the century. Julian Smith/AAP

Youth underemployment at four-decade peak: Brotherhood report

Underemployment among young people is now at its highest in the 40 years since it has been officially counted, according to a report from the Brotherhood of St Laurence released on Monday.
Scott Morrison made it clear that any improvement in commodity prices or wages growth would be used for budget repair. Mick Tsikas/AAP

Scott Morrison says budget will remember the renters

The proposed housing affordability package in the May budget will target people relying on social housing as well as those trying to break into the market.
Prime Minister Malcolm Turnbull used part of his address to the national press club to sell the company tax cut. Mick Tsikas/AAP

What economists and tax experts think of the company tax cut

The federal government is still trying to convince senate crossbenchers to pass a company tax cut but tax experts and economists dispute all of its supposed benefits.
Scott Morrison and Mathias Cormann speak to the media after the release of MYEFO in Canberra on Monday. Lukas Coch/AAP

AAA rating saved despite bigger deficits in budget update

The government has made a concerted bid to reinforce Australia's AAA credit credentials by ensuring the budget is still projected to return to surplus in 2020-21.
Scott Morrison said the quarter’s weakness was broad based but the dominant cause of the contraction was the decline of 3.2% in new business investment. Lukas Coch/AAP

Government calls for co-operation after hit with negative growth figure

After the national accounts showed the economy going backwards in the September quarter, Scott Morrison called for "partners" in the parliament to drive the government's economic plan through.