Peter Martin

Budget update to beat gloom

Phillip Coorey and Peter Martin The federal government will release its midyear budget update next week.

Update accused of being coy to hide revenue hit

Phillip Coorey, Peter Martin THE government is set to release its midyear budget update next week, prompting accusations it is bringing the document forward to avoid factoring in worsening revenue predictions and jeopardising...

Swan still won't have a bar of alcohol tax changes

Peter Martin THE Treasurer, Wayne Swan, has ruled out changing how alcohol is taxed in next week's mini budget despite last-minute lobbying and a finding Australia's wine glut is as good as over.

Swan under pressure to raise tax on wine

Peter Martin THE Treasurer, Wayne Swan, has been told to dramatically raise taxes on wine – perhaps as soon as next week – after an independent review found Australia's wine glut was as good as over.

Intruder was in House for 40 minutes

Peter Martin The intruder who came within inches of Prime Minister Julia Gillard during a press conference in the secure area of Parliament House in August visited the offices of Peter Slipper and Deputy Prime...

Banks win both ways

Peter Martin New research reveals banks are padding their interest rate margins no matter if the Reserve banks lifts or lowers official rates.

Pakistani court order for tests on sheep

Peter Martin Pathologists in London to help determine fate of thousands of Australian sheep in legal limbo.

Households poorer as saving surge backfires

Peter Martin Australian households stashed away a record $70 billion during the past financial year, pouring money into banks and term deposits, yet when the financial year ended they were $6 billion poorer than...

Wong to cut $550m but vows to leave jobs untouched

Peter Martin, Markus Mannheim EXPERTS have expressed deep scepticism about the pledge by the Finance Minister, Penny Wong, yesterday to take an extra half a billion dollars from the public service without touching jobs.

Swan faces cuts as revenues shrink

Peter Martin A fresh collapse in company tax collections has increased pressure on Treasurer Wayne Swan to make cuts to preserve the budget surplus in the mid-year update due in November.

Company tax collapse pressures Swan

Peter Martin A further collapse in company tax collections has increased the pressure on Treasurer Wayne Swan to find savings in the mid-year budget update.

National economy at mercy of the markets, says IMF

Peter Martin THE Treasurer and the International Monetary Fund are at odds over whether the budget should return to surplus this financial year.

Pensioners gain, but little joy for those on allowances

Peter Martin Pensioners will be $17.10 a fortnight better off from today, while Australians on Newstart or Austudy will scarcely notice any difference.

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Mining woes hit budget

Peter Martin and Tim Colebatch The federal government's surplus - and Labor Party promises - will come under intense pressure from a drop in metal prices of up to 16 per cent over the coming year.

Lifting GST rate to 15% could net extra $25bn

Peter Martin Almost $6b would be kept by Baillieu government, but experts warn it would soon evaporate.

Critics under fire as Swan says economy a world-beater

Peter Martin THE Treasurer, Wayne Swan, has lashed out at "bizarro" critics as he called on the nation to celebrate a world-beating 21 years of uninterrupted economic growth - more, he says, than the leading...

Maverick Joyce sticks to guns over Cubbie sale

Phillip Coorey, Peter Martin THE Nationals senator Barnaby Joyce says he will continue to speak out against foreign investment in agriculture, insisting his first duty is to the people who elected him.

Swan blasts 'bizarro' critics as growth rolls on

Peter Martin Treasurer Wayne Swan has lashed out at ''bizarro'' critics as he called on the nation to celebrate a world-beating 21 years of uninterrupted economic growth - more, he says, than achieved by France,...

Joyce refuses to back off on Cubbie

Peter Martin and Michelle Grattan A defiant Barnaby Joyce last night resisted strong pressure from Opposition Leader Tony Abbott to back off his public attacks on the sale of Cubbie Station to the Chinese, as the Nationals prepare...