The Latest Breaking News from Federal Budget

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The Albanese government's first federal budget will include a significant rewriting of official budget guidelines and will also see forecasts for unemployment revised as a "consequence" of a deteriorating global outlook, the treasurer has flagged.

With unemployment low, inflation high and interest rates on the rise, the time is right to bring back an old idea: bipartisan talks to reduce the federal budget deficit.

Climate change and energy minister Chris Bowen will not confirm if a $100 million commitment from the previous government to support the development of the hydrogen sector at the Port of Newcastle will be honoured in the upcoming federal budget.

Jim Chalmers says wages are unlikely to keep up with rising inflation in the short term, as global factors impact on the economy and federal budget.

Rising interest rates will only make it harder to balance the budget in future years.

The COVID-19 pandemic has dealt a catastrophic blow to Canada’s charitable and non-profit sector. Representing almost nine per cent of the country’s GDP and employing over two million people, the sector experienced an overwhelming demand for services with fewer staff and even less volunteers to meet increased demand during the…