Sat, 4th Jan 2025

In this Weekly Finance News Wrap, Paige Estritori discusses significant financial events in Australia. Former Treasurer Peter Costello warns about the rising public spending that could jeopardize economic stability, as it surpasses the per capita tax burden, amidst growing concerns about long-term debt and a dip in productivity. Australians are, however, opting for savings over spending, boosting household deposits, despite recent tax cuts - indicative of a focus on future stability. The IMF has advised against the Coalition government's proposal to ease home loan regulations due to rising housing prices, arguing for the strict policies currently in place for financial stability. The implications of this advice on upcoming political campaigns with housing policies at the forefront form an interesting aspect to watch out for.