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Economy

Parents: Do ‘story time’ or lose welfare

STRESSED parents are further feeling the pressure, being forced to attend their children’s story time or risk losing their benefits.Under a government program further expanded in July, parents must meet a fortnightly participation plan to…

Rates on hold for record 27th month

THE Reserve Bank of Australia has kept the official cash rate on hold at the record low of 1.5 per cent for the 27th consecutive month.The RBA last cut the cash rate in August 2016, following an earlier cut to 1.75 per cent in May. There…

The race that stops us spending

Tomorrow’s Melbourne Cup is the race that stops the nation from spending, although only for a while.A new analysis by the Commonwealth Bank of almost 1.4 million credit and debit card transactions has discovered a 10-minute window around…

Housing market’s big secret

AUSTRALIA’S real estate markets are changing extremely fast. Sydney just posted its biggest annual price fall since 1990, sinking 7.4 per cent. If Australian real estate was a movie, we are at a crucial point in the plot. But this movie is…

Worrying sign for Aussie economy

AUSTRALIA’S economy has a Goldilocks zone, too much or too little inflation is bad for business. But the latest figures show Australia’s economy is faltering, as inflation has come in at its lowest rate in 50 years, according to Commsec…

Figure behind crazy fuel price hikes

REGARDLESS of where you live, petrol price hikes are having a significant impact on household budgets at the moment.In almost all capital cities, the cost of unleaded fuel his hit or passed $1.60 per litre — and it’s worse in regional and…

House prices fall off a cliff

THE median house price in Sydney has fallen by $72,041 in a year, while Melbourne has lost $45,376 in the same period.CoreLogic data released on Thursday showed national dwelling values fell 0.5 per cent in October to bring the annual…

‘Too low’: Dole debate reignites

THE debate over unemployment benefits has taken a significant turn today with the news that Labor is considering raising the Newstart Allowance.“It is, in my opinion, too low,” Bill Shorten told Channel 9 this morning.“Of course we want…

Karl tells Shorten: ‘Just stay quiet’

LABOR leader Bill Shorten has been told he doesn’t need to do anything if he wants to become the next Prime Minister.Mr Shorten appeared on Channel 9 this morning to spruik the changes to a tax loophole Labor would introduce if…

Australians face $700b wealth wipe-out

A CONCERNING new report has revealed Australians face a collective $700 billion cut to their wealth.The Household Deleveraging Risk Indicator, put together by US investment banking giant Morgan Stanley, has warned Australia “leads the world…