Labor forces Coalition to vote on $17bn tax cuts

Labor’s $17bn tax cut plan passes amid Coalition opposition; election imminent, prompting criticism of modest relief measures.

Published

9 months ago

March 27, 2025

Ahron Young

Labor’s $17bn tax cut plan passes amid Coalition opposition; election imminent, prompting criticism of modest relief measures.

In Short

Labor’s $5-a-week tax cut plan has passed, facing opposition from the Coalition, which labelled it a “cruel hoax.”

Despite criticism, the bill received backing from the Greens and crossbenchers, promising future relief for taxpayers.

Labor has passed its $5-a-week tax cut plan, compelling the Coalition to vote against what they have termed a “cruel hoax.”

This legislation was introduced by Treasurer Jim Chalmers shortly after the government outlined the cost-of-living budget.

The Coalition promptly announced it would not support the tax cuts, allowing Labor to critique their refusal to back the relief measures before the upcoming election.

Despite opposition, the Bill passed 38 to 26 with support from the Greens and crossbenchers.

The $17 billion plan promises around $5 weekly to taxpayers in 2026-27 and $10 weekly from 2027-28. Chalmers emphasized that opposing the legislation equated to higher taxes for Australian workers.

Election bribe

The Coalition’s response was critical, with Shadow Treasurer Angus Taylor labelling the proposal an “election bribe.”

Following the announcement, Opposition Leader Peter Dutton is expected to propose his own tax cut plan, potentially halving the fuel excise if elected.

While the Greens did not impede the bill, they expressed that the tax cut was a missed opportunity for more significant cost-of-living relief.

Senator Jacqui Lambie supported the bill, believing any relief is better than none.

Stocks rally ahead of Thanksgiving as markets log four days of gains

Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.

Published

2 weeks ago

November 27, 2025

Harvey Vargas

Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.

Markets are moving into the Thanksgiving break with strong momentum, as stocks notch four straight days of gains. The Dow Jones Industrial Average jumped 388 points, while the S&P 500 added 0.9%, pushing both indexes toward their best week since June.

Oracle led major movers, rising more than 4% after Deutsche Bank reaffirmed its bullish outlook on the tech giant. Broad investor optimism continues building across sectors as economic data softens and earnings remain resilient.

All eyes are now on the Federal Reserve and what potential shifts in interest-rate policy may mean for the markets. U.S. markets will close Thursday for the Thanksgiving holiday and reopen Friday for a shortened trading session.

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#Markets #Stocks #Thanksgiving #DowJones #SP500 #Oracle #FederalReserve #FinanceNews

Money

Dow surges 500 points amid rate cut optimism

Dow jumps 569 points on fresh hopes for December rate cut and AI market optimism

Published

2 weeks ago

November 26, 2025

Harvey Vargas

Dow jumps 569 points on fresh hopes for December rate cut and AI market optimism

In Short:
– Dow Jones rose 569 points, reflecting optimism for a Federal Reserve interest rate cut.
– Alphabet’s stock increased as Meta may invest in AI chips, but Nvidia’s declined amid market concerns.

The Dow Jones Industrial Average increased by 569 points or 1.2% on Tuesday, reflecting investor optimism for an upcoming Federal Reserve interest rate cut. The S&P 500 and Nasdaq Composite also posted gains, up 0.8% and 0.4% respectively. This represented a recovery from earlier losses, where the S&P 500 briefly fell by 0.7%.

Markets anticipate an 85% chance of a quarter-point rate cut in December, driven by comments from New York Fed President John Williams, who indicated the possibility of lower rates soon. Investor sentiment strengthened following reports that Kevin Hassett may be appointed as the next Fed chair, potentially resulting in a more lenient monetary policy.

Tech Sector

Alphabet saw its stock rise by over 1% after reports indicated that Meta Platforms might invest in its AI chips. This could signal increased demand for AI technology, benefiting the sector overall. However, Nvidia’s stock fell more than 3%, suggesting concerns about its dominance in the AI chip market.

Investors are also wary of the valuation of tech stocks. Despite recent gains, the S&P 500 and Nasdaq remain down over 1% and 3%, respectively, for November, while the Dow has lost more than 1% this month. The broader market’s performance indicates ongoing scrutiny regarding tech valuations amid changing economic expectations.

Money

Gold prices surge as Central Banks buy big, but risks grow ahead

Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.

Published

3 weeks ago

November 25, 2025

Harvey Vargas

Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.

Gold prices are climbing fast as central banks ramp up buying, pushing demand to its highest levels in years. The metal’s reputation as a safe haven is strengthening, especially amid rising geopolitical tensions and global financial uncertainty.

But experts warn the shine could fade. A stronger US dollar and the possibility of rising interest rates may weigh on momentum, making investors question how long the rally can last.

Dr Steven Enticott from CIA Tax breaks down the drivers behind gold’s surge—from ETF inflows to physical bar demand—and what could send the price sharply higher… or lower.

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#gold #markets #centralbanks #economy #finance #investing #interestRates #usdollar