Australian Politics

By Ross Elliott from The Pulse: Proponents of Prime Minister Albanese’s proposed $90 billion “very fast train” between Sydney and Newcastle must either be extraordinarily optimistic or extraordinarily well paid to promote it.

This week’s federal budget has landed like a lead balloon with voters, with Roy Morgan polling taken immediately after the budget showing One Nation jumping to 32% of the primary vote, its highest ever result.

Oil is not worse today as Trump begs and Xi pretends to care.

The AFR describes growing confusion and criticism surrounding the Albanese government’s proposed gas reservation scheme, which would require major LNG exporters to reserve 20 per cent of gas for the domestic Australian market from 2027.

The AFR is living in the past.

The humiliation of the POTUS is at hand.

Below is a dot-point summary of Treasurer Jim Chalmers’ budget speech, which outlines the main budget measures.

Last week, the Albanese government abandoned the Inland Rail Project, which was supposed to build an inland rail freight line between Melbourne and Brisbane.

Australia relies more heavily on personal income tax than almost any other OECD country.

Tonight’s federal budget will go to great pains to show that the deficit isn’t as bad as claimed and that the government is working hard to balance the books.

Details of the federal government’s changes to capital gains tax (CGT) and negative gearing have been leaked to Phil Coorey at The AFR.

JPM continues its superb coverage of the Iran energy shock.

The Productivity Commission (PC) has released a note arguing that Australia’s intergenerational bargain is breaking down, with younger Australians experiencing stagnant incomes, worsening housing affordability, and declining access to home ownership.

Study after study has shown that new migrants choose to reside in Australia’s major cities.

In the years since the Albanese government increased the nation’s net overseas migration intake to all-time highs, the rate of migration has been a major source of debate and contention, both in the halls of power and on social media.

The Albanese government has just announced, in a press conference, the details of its gas reservation policy.

I used to be a supporter of the Inland Rail Project, which aimed to build an inland rail freight line between Melbourne and Brisbane.

Tuesday’s Victorian budget reported cash deficits, which capture general government spending and capital expenditure, as far as the eye can see. As illustrated below by Justin Fabo from Antipodean Macro, “Victoria’s general government cash budget deficit is forecast to be ~1% of gross state product (GSP) in each of the next 4 years”.

Today’s summary of war lies is as follows.