Thu, 17th Jul 2025

In this week's Weekly Finance News Wrap, Financial Services Online discusses significant challenges faced by Australia's economy, as per recent Treasury disclosures predicting government net debt reaching $1.2 trillion by the 2025-26 fiscal year, urging financial reforms for long-term economic sustainability. The Reserve Bank of Australia may implement a landmark change: banning card payment surcharges. This could save consumers billions annually, simplifying operations and increasing market competition, making electronic transactions more affordable for most Australian businesses. The Future2 Foundation's annual Make the Difference Grants is open for nominations, inviting financial professionals to nominate projects enhancing financial wellbeing in disadvantaged communities across Australia. The episode concludes with a concerning trend in the financial advisory sector: a third of individuals passing the financial adviser exam are choosing not to practice, potentially restricting consumer access to advice.n