Weekly Digest – 22 May 2024

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

2024 Federal Budget – NAB Economic Commentary

The NAB Economics team has responded to the 2024 Federal Budget, providing commentary on what it means for health, small and medium business, education and individuals.

Victoria passes legislation to phase out stamp duty on commercial and industrial properties

Victoria’s transition from a stamp duty to a property tax regime for commercial and industrial properties will begin from the new financial year after legislation enacting the change was passed in State Parliament.

What’s the impact of Future Made in Australia on business and the economy?

The ‘Future Made in Australia’ policy is a centrepiece of the Albanese government’s budget. David Chau looks at what it means for the economy.

Budget’s unspoken message: Maybe we’ll pull off the softest of soft landings

When normal people think about the economy, most think about the trouble they’re having with the cost of living. But when economists think about it, what surprises them is how well the economy’s travelling.

Business conditions slip as economic headwinds bite

After a long stint of above-average business conditions throughout the pandemic recovery, the slowing economy has caught up with Australian companies.

After a huge week of economic news, where did we land on the direction of interest rates?

Financial markets are now leaning towards “pricing in” an interest rate cut before the end of this calendar year

Two thirds of Australians want lower immigration

New polling from Resolve Political Monitor shows that two-thirds of Australians believe that last financial year’s net overseas migration (NOM) numbers of 528,000 were “too high”.

Australians planning to save tax cut earnings

More than a third of Australians are planning on using the income earned from the stage 3 tax cuts to pad their savings accounts, new data says.

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