Petrol prices in Australia surged to record highs in the week ending March 20 as the ongoing Russia-Ukraine war kept global oil prices at high levels. According to the Australian Institute of Petroleum, the national weekly average for retail petrol prices rose sharply by 14.9 percent to $2.12 a litre (US$5.94 a gallon) during the…

A little more than week ahead of handing down his 2022 budget, Australian Treasurer Josh Frydenberg said the federal government would provide “targeted” cost-of-living relief for Australians while working towards stabilising and reducing debt. “In the budget … there will be further measures to support families to meet the cost of living pressures, in a…

Homebuilding approvals across Australia plummeted in January 2022 due to a higher level of absenteeism and a slower administration process caused by the adverse effects of the COVID-19 Omicron variant. More specifically, both private sector houses and the more unstable “other dwellings” category witnessed a sharp fall in the number of approvals in January. According…

Australian motorists are not likely to receive any help with the sky-high petrol prices as the federal government will not halt fuel excise tax in next month’s federal budget. Prime Minister Scott Morrison said the fuel price was a global issue as crude oil just surged to over US$100 a barrel due to the Ukraine-Russia…

The Australian Treasurer Josh Frydenberg has declared that the government could not permanently continue to support the unprecedented levels of economic support provided over the past two years. Speaking with the Australian Industry Group on Feb. 7, seven weeks away from the pre-election budget announcement on March 29, Frydenberg said the federal government’s intervention would…

Karen and Mike Malherbe expected to move Western Australia (WA) next month and reunite with their family for the first time in three years. But meeting their first grandchild, and welcoming their second, now seems to be on hold for the foreseeable future. The couple had already sold their home in Illawarra, New South Wales…

Federal Treasurer Josh Frydenberg and Defence Minister Peter Dutton have asked the Western Australian Premier Mark McGown to please “explain” his decisions following the announcement that WA’s border will remain closed 16 days prior to the original open date of Feb. 5. Frydenberg said on Friday that many Western Australians will be questioning this decision…

The Australian Medical Association (AMA) announced that telehealth consultations would be restored temporarily to meet healthcare demands during the Omicron outbreak. AMA President Omar Khorshid said in a media release that Health Minister Greg Hunt and Treasurer Josh Frydenberg had endorsed the AMA’s proposals on Jan. 16 to restore expanded patient access to telehealth. “The AMA…

A surge in Omicron cases across the country will not hinder Australia’s economic recovery following last year’s COVID-19 restrictions, Australia’s federal treasurer said. It comes as new data released by the Australian Taxation Office revealed around half a million jobs had been created across the nation since September. Josh Frydenberg said Australia had experienced a…

Treasurer Josh Frydenberg is forecasting a slightly smaller budget deficit for the 2021/22 financial year while predicting strong economic recovery and a sharp fall in the unemployment rates. He is also predicting in his mid-year budget review wages growth of three percent in 2023/24, a rate not seen since the coalition came to power in…