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Treasurer signals slowing economy ahead of data release next week
Treasurer Jim Chalmers appears to be prepping the ground ahead of the release of a battery of economic data next week.
In a statement on Sunday, the treasurer said:
This week’s National Accounts will inevitably show the impact on our economy of high interest rates, high but moderating inflation and continuing global uncertainty.
We’ve been clear and upfront that we expect growth in our economy to slow considerably over the next year, and that’s been apparent in recent retail and building approvals data.
We know households are under significant pressure, which is why we’re focused on helping Australians through these difficult economic times while at the same time laying the foundations for future growth.
This month the government is rolling out billions of dollars of further targeted and responsible cost-of-living relief to Australian households in a way that doesn’t add to the inflation challenge.
We’re halving the cost of many medicines for chronic conditions, providing the biggest increase to Commonwealth Rent Assistance in 30 years, and continuing to take the sting out of power bills with energy price relief for millions of households.
While the GDP growth numbers are expected to stay positive for this year – and hence Australia will avoid a “technical” recession of two negative quarters in a row growth per person won’t be so fortunate. The latter slid 0.2% in the March quarter from the previous three months and a second such retreat is possible in the June quarter.
Updated at 21.44 EDT32m ago21.16 EDTTamsin Rose
Sydney NYE fireworks viewing sites free again
Almost all of the government-owned sites around the Sydney Harbour foreshore will be free for people to watch the famous fireworks display on New Year’s Eve.
The New South Wales premier, Chris Minns, has this morning announced the decision, including exemptions for fundraising events already planned at Taronga Zoo and the Royal Botanic Gardens.
The previous government introduced ticketed areas at government-owned sites in 2018. The decision was met with upset from many within the community.
Most of the government sites will operate on a first come, first served basis, with capacity limits in place.
Updated at 21.20 EDT49m ago20.59 EDTIndigenous leaders dismiss Dutton’s referendum proposal, arguing ‘we have to act now’
Indigenous…
2023-09-02 20:44:43
Original from www.theguardian.com
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