Melbourne has emerged from its sixth city-wide lockdown at 11:59 p.m. on Oct. 21, after reaching 70 percent double-vaccinated rates on Oct. 20. The city had the longest lockdown in the world, spending a total of 263 days in lockdown since March 2020, with the most recent lockdown lasting 77 days. Currently, Victoria has recorded…
Australian Treasurer Warns Economy Facing Challenging Times
Treasurer Josh Frydenberg has warned the economy faces challenging times ahead with coronavirus lockdowns in the country’s two major states putting jobs and businesses at risk. Economists are predicting the economy to contract by as much as four per cent in the September quarter as a result of the lockdowns in NSW and Victoria. Victoria…
Australian Treasurer: National Interest Over Trade With China
July 11, 2021
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Australian Treasurer Josh Frydenberg said on July 7 during an interview with Australia’s Sky News that, “While the economic relationship with China is very important, we have a clear sense of our national interests.” Frydenberg was referring to Australia’s response to Beijing’s retaliatory trade sanctions. “All of the measures we are taking have been designed…
Australia Urged to Keep Taking Risks to Ensure Economic Growth
June 24, 2021
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The Australian government and businesses are being urged to keep taking risks as they did during last year’s recession to ensure the economic recovery continues. Su McCluskey of the National COVID-19 Commission Advisory Board told a conference in Canberra that last year, faced with a pandemic, Australia was able to be “nimble and responsive” and…
Industry Bodies Welcome Home Ownership Initiatives in 2021 Budget
May 11, 2021
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The Australian housing and mortgage sectors are commending the federal governments new and expanded measures announced in the Federal Budget on Tuesday to help more Australians become homeowners and, in turn, drive economic recovery. Property Council of Australia (PCA) chief executive Ken Morrison said in a statement that the PCA commended the federal government for the…
Early Education Sector Applauds New Funding From Federal Budget
Early Education organizations in Australia have applauded the Federal Budget’s new funding for the sector. Other than the previous commitment of $1.7 million for the Child Care Subsidy, the Federal Government last night announced it would further inject $2 billion into early childhood education over the next four years, which will ensure every child receives…
Australia’s Federal Budget 2021/22 at a Glance
Here are the key details of the 2021/22 budget, and how the various measures impact on Australians. The Federal Budget at a Glance KEY FORECASTS * Budget deficit of $106.6 billion for 2021/22 (5 percent of GDP) * Economic growth to rise by 4.25 percent in 2021/22 * Unemployment to average 5 percent * Inflation…
Treasurer Frydenberg Considers Overhaul for JobMaker Scheme
The Morrison government’s $4 billion JobMaker hiring credit scheme has been snubbed by employers, forcing Treasurer Josh Frydenberg to make changes to it in the upcoming May budget. The scheme, which was expected to create a total of 450, 000 jobs in two and a half years, has so far failed to generate any real…
Aid For Struggling Aussie Tourism Sector Is ‘Days Away’ : Treasurer
Treasurer Josh Frydenberg has said the federal government will be announcing a new plan to support the tourism and travel industry in the coming days. Frydenberg, who arrived in Cairns on March. 7 for a listening tour in the region, said the government was in the process of figuring out a plan to keep supporting…
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