Australia to Run Record Budget Deficit as Government Cuts Tax, Boosts Job Support | Investing News

By Sam Holmes and Colin Packham

SYDNEY (Reuters) – Australia pledged billions in tax cuts and measures to boost jobs on Tuesday to help pull the economy out of its historic COVID-19 slump in a budget that tips the country into its deepest deficit on record.

Prime Minister Scott Morrison’s conservative government has unleashed A$300 billion in emergency stimulus to prop up growth this year, having seen the coronavirus derail

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Acer Aspire 5 review: Intel Ice Lake comes to the budget Aspire line

Another winner in a long line of budget-priced workhorses, the latest version of the Acer Aspire 5 graduates to Intel’s Ice Lake CPU and packs in enough power to tackle daily computing tasks with ease. This new Aspire 5 model does come saddled with a few compromises, including a cramped storage drive and so-so battery life, but its solid multi-core performance and impressive array of ports make up for those

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EU Budget Rules to Remain Suspended in 2021: Commission | Investing News

BRUSSELS (Reuters) – European Union rules that set limits on government borrowing will remain suspended in 2021 as the 27-nation bloc strives to support a recovery from the recession caused by the COVID-19 pandemic, Economic Commissioner Paolo Gentiloni said.

The European Commission, which is in charge of enforcing the fiscal rules, earlier this year suspended EU requirements to keep government deficits below 3% of GDP and to reduce public debt

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The Budget Assumes a COVID-19 Vaccine Becomes Available Next Year, But Is This Feasible?

The Australian federal budget, unveiled on Tuesday, bases several assumptions on Australians having access to a COVID-19 vaccine in 2021.

This timeline is possible, according to researchers on the frontline of vaccine development. A survey published in early October asked 28 US and Canadian experts when they thought a COVID-19 vaccine would be available.

They weren’t optimistic a vaccine would be available before mid-2021, but on average thought September or

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‘So near, but so far: The Budget missed the mark for older Australians’

Another barrier is the lack of common ground between states. Restrictions and isolations are still active and unlikely to be released this year. Particularly my state Victoria that seems to many to be in a death roll with a stubborn government. Continued closure of borders will affect the success of government expectations, for to succeed free travel is a must.

Considering the above, tonight’s Budget should have been one of

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Budget 2020 hints Aussie state’s border reopen still months away

The Federal Budget has hinted at when Western Australia will reopen its borders to the rest of the country.

Treasurer Josh Frydenberg’s figures were based on the opening of the mining state by April 1, according to The West Australian.

Despite borders in other states gradually opening, Premier Mark McGowan has remained firm in blocking entry to visitors from interstate.

“We are not prepared to set a date at this

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Federal Budget 2020: Winners and losers


These are some of the winners and losers in Josh Frydenberg’s 2020 Budget, which has been inevitably defined by the coronavirus pandemic.


Winner: Taxpayers

The Government is bringing forward its second stage of tax cuts, which means millions of Australians will have more money in their wallets potentially from the end of October.

It’s planning on back-dating the cuts to July this year, and, to make up for

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Chicago has spent at least $222 million in overtime so far in 2020, already over budget for the year

The weekend after a Kentucky grand jury declined to charge any police officers for the killing of Breonna Taylor, Chicago Mayor Lori Lightfoot ordered a fleet of city vehicles to prepare for another possible round of civil unrest and looting.

a group of people crossing a street at night: A few protesters cross Michigan Avenue as city trucks with snowplows block access to Chicago Police Department headquarters, following the announcement of charges in the Breonna Taylor case Sept. 23, 2020.

© Chris Sweda / Chicago Tribune/Chicago Tribune/TNS
A few protesters cross Michigan Avenue as city trucks with snowplows block access to Chicago Police Department headquarters, following the announcement of charges

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Budget 2020: What you might have missed

A $100million boost for suicide prevention, superannuation reforms to benefit workers and changes to parental access leave are among the measures in the 2020 budget you may have missed. 

Treasurer Josh Frydenberg took to the despatch box before a socially distanced House of Representatives on Tuesday evening to unveil his emergency plan to kickstart the nation’s battered economy. 

Temporary changes to parental leave access set to benefit parents

Thousands of

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Removal of dog poop trash cans from parkways an indication of future city budget cuts

DENVER, Colo. — Throughout the City of Denver’s parkways like the one on 6th Avenue, you’ll typically see people running or walking their dog.

“People use it on a regular basis. My kids run on it all the time. It’s enjoyed by everybody around here,” Nicholas Ghiselli, who lives in the area, said.

But now, Denver Parks and Recreation will be scaling back their maintenance on all parkways and they’ve

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Singapore prepares road map for recovery as Heng warns virus will weigh on budget ‘for years’

a close up of a person wearing glasses: Singapore Deputy Prime Minister Heng Swee Keat. Photo: EPA

Singapore Deputy Prime Minister Heng Swee Keat. Photo: EPA

Singapore is preparing for its final phase of economic reopening as coronavirus infections stabilise, Deputy Prime Minister Heng Swee Keat said on Monday even as he reiterated that the economic outlook was grim amid government efforts to save jobs and plan for the post-pandemic era.

Heng, in a parliament speech, said a road map would be revealed in the coming weeks

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JNU spending on security up, research budget down

a group of people walking in front of a crowd: Jawaharlal Nehru University has been mired in strife and disruption since 2016. (Sanjeev Verma/HT archive)

© Provided by Hindustan Times
Jawaharlal Nehru University has been mired in strife and disruption since 2016. (Sanjeev Verma/HT archive)

The Jawaharlal Nehru University (JNU) has seen a substantial decrease in its academic expenses over the past three financial years, affecting the organisation of seminars and workshops; subscription to journals and publications; and sponsorship of fellowships and research activities.

The matter was raised by members of the executive council (EC),

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‘Treasurer of hope’: Big-spending budget banking on vaccine | The Canberra Times

news, federal-politics, federal budget, josh frydenberg, treasurer of hope, vaccine

Josh Frydenberg has been dubbed the “Treasurer of hope” as he prepares to unveil the most significant budget in 70 years. However there are fears the path to economic recovery could crumble away if a coronavirus vaccine is not found next year. Tuesday’s budget is expected to include a big deficit but also big spending measures to address the economic

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Australian shares jump ahead of budget, Trump’s improving health signs add to cheer

(Reuters) – Australian shares posted their biggest daily rise in two-and-a-half months on Monday as investors cheered U.S. President Donald Trump showing signs of recovery from COVID-19.

FILE PHOTO: Pedestrians are reflected in a window in front of a board displaying stock prices at the Australian Securities Exchange (ASX) in Sydney, Australia, February 9, 2018. REUTERS/David Gray

Positioning ahead of the Reserve Bank of Australia policy meeting and federal budget

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Senate panel defers approval of OSG budget over Calida allowances, other funds

MANILA, Philippines — A Senate panel on Monday postponed its approval of the Office of the Solicitor General (OSG) budget after questions were raised on the allowances given to Solicitor General Jose Calida and its proposed travel and confidential funds for next year.

During the Senate hearing on the Department of Justice (DOJ) proposed budget, Senator Francis Tolentino moved to defer OSG’s proposed P1.116 billion budget for 2021.

“I move

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Calida’s allowances, budget reallocations raised in OSG budget deliberation at Senate

Calida’s allowances, budget reallocations raised in OSG budget deliberation at Senate

MANILA, Philippines — A Senate panel on Monday moved to defer the approval of the Office of the Solicitor General’s 2021 proposed budget over Solicitor General Jose Calida’s allowances, the office’s fund allocations and its tasks beyond its Charter.

Sen. Sonny Angara, chair of the Senate Committee on Finance, deferred the approval of the budget of the OSG

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Senate panel defers OSG budget over questions on Calida’s allowances, funds

logo: Office of the Solicitor General

Office of the Solicitor General

A Senate committee on Monday deferred deliberations on the Office of the Solicitor General’s (OSG) proposed P1.116-billion budget for 2021 over questions on how the agency intends to spend its funds.

Senator Francis Tolentino scrutinized the OSG’s confidential funds, travel budget, allowances received by Solicitor General Jose Calida, and the agency’s expenses on activities that the senator said are beyond its mandate.


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Senate defers Sol-Gen’s budget on ‘questionable’ allowances, travel allocation

The Senate Committee on Finance on Monday deferred its approval of the Office of the Solicitor-General’s (OSG) proposed 2021 budget over the “questionable” allowances earned by Solicitor General Jose Calida and the agency’s travel and confidential funds.


Senator Francis Tolentino moved to postpone their deliberation of the P1.1-billion proposed budget of the OSG as he raised issues with Calida’s salaries and allowances as reported by the

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How to travel to the Maldives on a budget

How to travel to the Maldives on a budget originally appeared on

The Maldives is not a cheap destination.

For starters, getting there from the U.S. can cost you more than $2,500 round-trip in high season. You’ll also have to factor in the price of transportation from Male International Airport to the island where your hotel is located, which can often be just as much as flying halfway across

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Australia to Spend More on Jobs in Budget Based on COVID-19 Vaccine | Investing News

MELBOURNE (Reuters) – The Australian government said on Sunday it will earmark an additional A$1.2 billion ($859 million) in wage subsidies in the 2020/21 budget and that its frameworks assume that there will be a novel coronavirus vaccine next year.

In the run up to the Oct. 6 budget, which is set to forecast a record deficit of about A$200 billion, Treasurer Josh Frydenberg said a vaccine was a factor

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