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The new bottom line will be a long way from Mr Swan's 2012 "back in black" promise of a $1.5 billion surplus for 2012/13, before it was revised down to $1.1 billion and then scrapped due to falling company tax revenues, lower commodity prices and the
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Treasurer Wayne Swan says his Queensland counterpart Tim Nicholls is deliberately misleading the public over why the state hasn't received $725 million in flood relief funding. The treasurers have been trading barbs on the funding, each blaming the
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This had a "dramatic impact" on the profitability of companies and prices in the economy. "As a consequence of that, that's caused a hit, like a sledgehammer to revenues in the budget, since the mid-year update of something like $7.5 billion," Mr
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Treasurer Wayne Swan wants major industrialised countries to cut back on austerity measures and expand their economies, saying a world growth of three per cent isn't good enough. Mr Swan will on Saturday address the spring meeting of the
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Mr Swan will head to Washington for meetings of the G20, International Monetary Fund and World Bank later this week. He said the talks were a great opportunity to "take the temperature" of the global economy in the lead up to May 14, when the federal
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Australians with about $2 million in superannuation will lose tax concessions under changes to the system announced on Friday by Treasurer Wayne Swan. Treasury estimates that about 16,000 people will be affected by this measure in 2014-15, which
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Glenn Stevens ... his current term was due to end in September. Photo: Bloomberg "I congratulate Governor Stevens on his reappointment, which acknowledges his enormous contribution to Australia's economic resilience through his conduct of monetary
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Mr Swan used his weekly economic note to remind people Australia has received a big tick of approval by global ratings agency Fitch. The treasurer said this was despite a series of "misrepresentations" recently about Australia's "modest" debt levels.
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However, Rob Downey, Antarctica expert for the WWF, has told Sky News that he fears increased mineral extraction activities in the Arctic could lead to the development of new technologies that would make exploitation of Antarctica's natural resources
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Wayne Swan will lose his Brisbane seat of Lilley at the 2013 federal election, unless Kevin Rudd is reinstated as Labor leader. A ReachTel phone poll of 693 residents on Friday night found that 37.4 per cent of voters would put Mr Swan as their first
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