Federal and State Budget

Broader praise for Western Australia's ‘ironclad budget’ has been accompanied by industry calls to build the state's investment appeal and diversify the economy.

The state government has flagged a record investment in infrastructure projects spread over the next four years.

A $715 million state budget package to ease financial pressures from households will include $450 million worth in energy bill relief from the WA government.

ANALYSIS: The state budget has been designed so Mark McGowan can announce unexpectedly good outcomes in future but also sets the scene for a bitter GST battle with other states.

Payroll tax changes will save Western Australia’s largest employers around $230 million next financial year, according to state government budget papers.

A move to extend the price cap for apartments eligible for stamp duty rebate is expected to cost the state government $33 million, as part of a $750 million package to boost housing.

The McGowan government’s seventh annual budget features a $3.3 billion surplus, with households and businesses to benefit from $566 million in energy bill credits and modest payroll tax relief.

The federal budget has significantly expanded a Telethon Kids Institute-led early intervention scheme to treat autism, devoting more than $22 million to boost the pilot program.

The federal budget has been broadly welcomed by the business community but some worry it doesn't go far enough to boost productivity and investment.

The federal budget mapped out a path to ‘green hydrogen superpower’ status, championed critical minerals relationships and altered taxes on oil and gas. Here’s how industry responded.

Jim Chalmers says his budget won't fan inflation and lead to more interest rate rises but some leading economic experts are not convinced.

Western Australia’s property groups have welcomed the state budget, in particular no new taxes or charges for property, but continue to call for housing stimulus timeframe extensions.

The state government’s response to COVID-19 is smaller than investment after the Global Financial Crisis, shadow treasurer Dean Nalder claims.

Recruiting 800 new police officers and $201 million for remote communities were among the initiatives announced in the state budget today.

The state's public sector workers who have had to accept flat annual pay increases of $1,000 a year for the past four years will have to get used to it.

Both Ben Wyatt and Josh Frydenberg have avoided big reforms to boost productivity this week, with CCI today arguing the state government missed an opportunity.

A big boost in royalty income has largely offset the revenue hit of COVID-19, as Treasurer Ben Wyatt borrows in the hope of an infrastructure-led recovery.

A second wave of COVID-19 in Western Australia remains the single biggest threat to the state’s economy, according to Premier Mark McGowan.

UPDATED: The state government has promised a debt-fuelled record $27 billion infrastructure spend over the next four years in a pre-election budget.

The state government has done little to support struggling households and businesses and left the heavy lifting to the federal government, according to Dean Nalder.

Australia's refugee intake has been quietly cut by 5,000 places a year, leaving advocates up in arms.

Scott Morrison denies his government's budget hinges on a coronavirus vaccine being found next year, saying various tax cuts and business incentives will roll out regardless.

Keeping Western Australians safe and creating jobs will be the major focus of a pre-election state budget that is expected to forecast a modest surplus.

Scott Morrison has defended a federal budget scheme to give bosses weekly cash payments to employ people aged under 35.

Click through for a summary of initiatives in the $74 billion JobMaker package, including a $4 billion wage subsidy and $3.5 billion of research incentives.

Federal net debt is set to peak near $1 trillion, with $416 billion of cash deficits projected as the government locks in higher spending.

The federal government will support an additional 10,000 first home buyers with the purchase of a new home, under the First Home Loan Deposit Scheme.

The federal government will spend $1.2 billion to create more than 100,000 apprenticeships and traineeships in an effort to boost youth employment.

An instant asset write-off for new business investment and an immediate tax deduction for losses are key measures in the federal budget.

Western Australia is expected to deliver a $1.7 billion budget surplus, while the national budget is likely to record a deficit of around $83 billion.

Millions of Australians will have income tax cuts fast-tracked in a federal budget set to focus on driving business investment and job creation.