Economy

This week’s post-meeting press conference was only the first step in a major overhaul of the way the RBA works – with new governor Michele Bullock out to prove herself as a reformer.

Revising the ways in which we measure and assess growth could be the secret to a better and more just society, where a distinction is made between ‘good’ and ‘bad’ productivity.

ANALYSIS: One in eight Australians live below the poverty line, and yet taxes in this country are the ninth-lowest in the OECD. The stage three adjustments are a start, but broader reform is urgently needed to address inequality and fund essential services.

As the government launches another review of supermarkets’ conduct, the corporate watchdog is expected to announce its first full-scale supermarkets inquiry in 16 years.

Woodside and Santos are considering joining forces to create an Australian behemoth in a deal that could amount to a lifeline for the country’s big polluters.

Labor has wrested support for its legislation to save the Murray–Darling Basin with concessions to the Greens and independent senators, but the plan’s heavy reliance on water buybacks will do little to appease farmers and state governments.

As expectations rise for another interest rate hike by year’s end, and the pain of inflation pressure weighs on more households, it’s clear the RBA can’t solve the inflation problem alone.

In some areas, barely 10 per cent of the homes lost in the Black Summer fires have been rebuilt due to struggles with development approvals, insurance shortfalls and labour and material shortages. Now another fire season looms.

As Qantas and PwC take steps to restore their damaged reputations, Treasurer Jim Chalmers announces draft legislation to penalise corporate wrongdoing and help bring it to light.

Services Australia staff say the agency is in chaos, blaming under-resourcing and poor decisions for ‘the worst culture, morale and treatment of employees ever seen’.