The Bottom Line
Updated Wednesday 28 October 2026
Prime Minister Albanese says Western Sydney International (Nancy-Bird Walton) Airport has received its first international flight, Air New Zealand NZ165 from Auckland, with three return services per week to begin. The Prime Minister's office says the airport is designed for 10 million annual passengers, was built over seven years by more than 13,000 workers, and that its cargo precinct has already increased Sydney's air cargo capacity by around 33 per cent.
The Treasurer introduced the Treasury Laws Amendment (Tax Reform No. 4) Bill 2026, saying it delivers a 50 per cent capital gains tax discount for early investors in innovative start-ups and expands the Research and Development Tax Incentive. The Treasurer said R&D reforms are expected to lift investment in R&D by young firms by $400 million per year, and that the refundable offset turnover threshold will rise from $20 million to $50 million. The government says the broader package delivers $3.8 billion in tax relief for businesses and start-ups.
MacroBusiness reports RBA deputy governor Andrew Hauser said inflation is proving more persistent and materially worse than expected, and that the RBA remains prepared to tighten further. ABS figures show the trimmed mean CPI, the RBA's preferred measure of underlying inflation, rose from 2.7 per cent in the June quarter of 2025 to 3.6 per cent in the June quarter of 2026.
Capital city dwelling values have fallen sharply since April, according to MacroBusiness citing Cotality data, with ANZ Bank separately forecasting a significant national peak-to-trough decline. ABS figures show the unemployment rate reached 4.7 per cent in September 2026, up from 4.1 per cent in January.
Every figure is checked against official data or attributed to the body that announced it. Past editions