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The Latest Breaking News from Federal Budget

Biden budget vs. House GOP: Values on display in debt fight

President Joe Biden's federal budget is a statement of his values

The Independent UK

Biden to seek more than $2.8B from Congress for cancer fight

President Joe Biden is requesting more than $2.8 billion in the federal budget proposal he's sending to Congress to help advance his cancer-fighting goals

The Independent UK

Biden budget seeks big deficit cuts in challenge to GOP

President Joe Biden is ready to unveil his proposed federal budget, his opening offer in a high-stakes debate about federal finances

The Independent UK

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Iraq, Kurdistan Region Discuss Disputed Areas, Federal Budget

A security delegation from the federal government arrived in Erbil Sunday, while another one assigned by the regional government arrived in Baghdad to discuss outstanding issues. The regional government delegation seeks to discuss the most pressing issues, including the 2023 budget, the disputed share of the region, and other topics…

Asharq Al-Awsat

SA premier says fed budget must ease GP crisis

South Australian Premier Peter Malinauskas says this year's federal budget must include a serious commitment to ease the GP crisis.

AAP

Energy price relief in spotlight of federal budget

As federal parliament returns for the new year the government faces pressure to deliver further energy price reductions after intervening in the market.

AAP

Superannuation tax breaks will cost budget $52bn, almost matching Australia’s age pension

New analysis calls for major changes including restrictions on concessions as the country risks having ‘two classes of state-funded retirees’

The Guardian - AU

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I helped balance the federal budget in the 1990s – here's just how hard it will be for the GOP to achieve that same rare feat

Kevin McCarthy reportedly promised many things to Republican hardliners en route to clinching his job as speaker of the U.S. House of Representatives. One of them was a “balanced budget” in 10 years.

The Conversation

India finance minister announces new clean energy funds

Indian finance minister Nirmala Sitharaman announced several new clean energy initiatives in her annual federal budget speech on Wednesday, saying “green growth” is a top priority for the country

The Independent UK

Biden signs $1.7 trillion bill funding government operations

President Joe Biden has signed a $1.7 trillion bill funding government operations through September 2023, the end of the federal budget year

The Independent UK

November's $249 Billion Federal Budget Deficit Set a Record. Now, Congress Is Preparing To Spend Even More.

The government spent $501 billion in November but collected just $252 billion in revenue, meaning that about 50 cents of every dollar spent were borrowed.

Reason

New South Wales approved a UN jail visit before backflipping

NSW agreed to let human rights inspectors visit its jails before going back on its decision, a federal budget estimates hearing revealed.

The New Daily

Negative gearing and capital gains tax discount set to cost the budget $20 billion a year within a decade

The cost of negative gearing is set to more than triple as interest rates rise and, with it, the capital gains tax discount is expected to cost the federal budget more than $20 billion a year within a decade.

ABC News

Millions allocated in federal budget to abolish cashless debit card, but support for participants unknown

Opponents of the card are calling for greater clarity from the Albanese government about what services will be made available to support the thousands of people transitioning off the program.

ABC News

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The Conversation

The budget sounded warnings of an NDIS 'blow out' – but also set aside funds to curb costs and boost productivity

In this week’s federal budget the costs of the National Disability Insurance Scheme (NDIS) have been revised upwards, with average forecast growth of 14% a year over the next decade.

The Conversation

Money for dams dries up as good water management finally makes it into a federal budget

A story from the early days of the Abbott government still circulates in the halls of Parliament House.

The Conversation

Will your energy bills ever come down? Only if Labor gets serious with the gas majors

Over the next two years, energy prices are expected to rise by a whopping 56%. That’s the dismal forecast in this week’s federal budget.

The Conversation

The government hopes private investors will help save nature. Here's how its scheme could fail

This week’s federal budget reiterated the government’s plan to establish a new scheme for encouraging private investment in conservation, called a biodiversity market (now, rebranded to a “nature repair” market).

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Newcastle Herald

Budget and energy agencies differ on coal

TUESDAY'S federal budget was framed on commodity price assumptions that included a fall in thermal coal from $US438 a tonne to just $US60 a tonne by July this year.

AAP

Indigenous voice budget funding welcomed

Financial commitments in the federal budget show the government is serious about Indigenous issues, a law academic who helped design the Uluru Statement says.

The Conversation

Budget restraint? When it comes to transport projects, it's hard to find

“Restraint” – that’s what Treasurer Jim Chalmers claimed as the watchword of Tuesday’s federal budget. Perhaps the claim can be made in general, but when it comes to transport infrastructure, the budget is remarkable not for how different it is to budgets past, but how similar. It has left plenty…

The Conversation

This was supposed to be a 'wellbeing budget' – so why does it feel like the arts have been overlooked?

The first Labor federal budget has come down, but the arts are almost nowhere to be seen.

AAP

Regional communities 'neglected' in budget

The government has been accused of neglecting funding for regional Australia in the federal budget, but the minister in charge insists it is a focus.

Newcastle Herald

Business leaders welcome Hunter's budget 'success'

Newcastle Airport says it is "thrilled" to have funding for its new terminal building confirmed in Tuesday's federal budget, and the Hunter's peak business group has welcomed commitments to other large infrastructure projects.

ABC News

Anthony Albanese flags NDIS spending crackdown as federal budget forecasts cost blowout

There are growing concerns about the sustainability of a central Labor policy following new budget projections showing the extent of National Disability Insurance Scheme cost blowouts.

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