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Follow Australian Financial Review Property Summit updates here; Reserve Bank’s head of domestic markets Jonathan Kearns said interest rate sensitivity similar to early-2000 levels; Anthony Albanese said protecting rule of law is contingent for any relationship with China.
Tax payments as a share of the economy have hit a 16-year high and could surpass the former Coalition government’s tax cap, after record mining and energy profits and a boom in jobs delivered a multibillion-dollar windfall to the federal budget.
Consumer spending was incredibly strong and real hourly earnings grew in the June quarter, defying the doom and gloom of many pundits.
Australian economy at wages and jobs crossroads
John Caldwell has been named as the new president of the Huntingdon Rotary Club.