The Anthony Albanese Australian Labor Government’s $6.1 billion investment in Medicare in last year’s Budget has helped stop the slide in bulk billing. New figures out today show an increase in bulk billing rates in every state and territory #auspol #ausecon Mark Butler MP

The national average unleaded petrol price was 212.1 cents/litre last week, just 0.4c below record high set in March 2022. Crimps consumer savings/spending and adds to inflation. Negative for discretionary retail. #commsec #petrol #ausecon #auspol CommSec

More evidence that inflation in Australia has come down from highs, but is now trending sideways above the 2-3% target zone
#commsec CommSec #ausecon #auspol

Today’s figures show inflation dropped to 3.6% in the year to the March quarter, down from 4.1% in the previous quarter. Annual inflation is now less than half its peak and much lower than the 6.1% we inherited at the time of the election. #auspol #ausecon

What better way to finish a very busy Monday than with a cup of tea and a frank and friendly chat with Rebecca Levingston and EVERALD COMPTON on ABC News about budget preparations two weeks out, the economy more generally, and what we’re grappling with #auspol #ausecon

Talking about economics, geopolitics & stonks for 2 hours straight.
#ausecon #ausbiz

#auspol #ausecon

Speaking to Kieran Gilbert live on Sky News Australia soon #auspol #ausecon

Jim Chalmers MP Anthony Albanese Australian Labor Mark Butler MP Gov $6.1B Medicare boost seems good, but it’s a short-term fix, doesn’t address real issue - Medicare rebates not keeping up with inflation. This leads to more inefficiencies. The real solution? More competition and transparency in healthcare. #auspol #ausecon Libertarian Party

[REPORT] In the US, the spotlight shines brightly on the Federal Reserve rates decision (Thursday morning AEST) and the latest employment report (Friday).

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#ausecon

Both the Producer Price Index and the Wage Price Index suggest an increased likelihood of inflation remaining above the the 2-3 per cent target band over the next 12 months. #auspol #ausbiz #ausecon

The 2PP polling is getting f***ing close: perhaps too close to call. I expect there will be more non-major party reps in the next parliament, and minority govt whomever wins. Because first term govts are usually returned, I think labor is still ahead. #auspol #ausbiz #ausecon

The ABS Australian Bureau of Statistics defines prices for over 220 business prices; 113 of these have annual growth rates above 3%. More work is required to lower pace of costs
#ausecon #auspol #commsec CommSec

Same here, EVERALD COMPTON, looking forward to being the third wheel to you and Rebecca Levingston on ABC Brisbane tonight and having another good yarn about the budget, this time on air #auspol #ausecon

In the 12 months to March the underlying budget was in surplus by a record $31,499 million
#budget #ausecon #auspol #commsec CommSec

#auspol #ausbiz #ausecon

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Spending on social security & welfare totalled $244.8 billion in the year to March, up 12.2% on the year and represented 36.6% of all payments. The category is rising at a $26bn annual rate.
#ausecon #auspol #commsec CommSec

Personal tax revenues totalled $330.6bn in the year to March, up 13.1% on a year ago. Taxes have lifted at a double-digit pace for two years. Company taxes totalled $153.3bn, up 10.7% on the year.
#ausecon #auspol #commsec CommSec