The Bottom Line
Updated Saturday 24 October 2026
The Treasurer claimed business investment this year could more than double compared to the May Budget forecast, and that the government has delivered the lowest average unemployment rate of any government in 50 years. The Guardian reported that the Treasurer said Treasury is revising its forecasts ahead of the December midyear update, with higher interest rates and inflation expected to produce softer growth and slightly higher unemployment.
The RBA cash rate sits at 4.60 per cent after four rises this year from 3.60 per cent at the start of 2026. ABS figures show the seasonally adjusted unemployment rate was 4.7 per cent in September, unchanged from August. The Guardian reported that financial markets lifted the probability of a Melbourne Cup day rate rise, citing ANZ.
The Treasurer and Assistant Treasurer opened consultation on financial sector deregulation they claim will cut red tape by $780 million a year, including changes to covered bond issuance caps and reporting requirements for smaller banks.
Energy Minister Chris Bowen and Finance Minister Katy Gallagher said in a joint statement that Snowy 2.0 will provide more than half of the total energy storage the grid needs by 2050.
Every figure is checked against official data or attributed to the body that announced it. Past editions