Julia Gillard News
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Asia’s richest woman Gina Rinehart said Australia should follow the example of Singapore’s former prime minister to stimulate development of its northern regions.
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Australia’s government is wooing voters with increased infrastructure, health and education spending while charting a path to a budget surplus as it seeks to restore economic credibility four months before an election.
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Australian Treasurer Wayne Swan will eschew European-style austerity as a stronger currency slows growth, wagering the government can win a Sept. 14 election fought on jobs and absorb the pain of a broken surplus promise.
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Australia will sell a new 2025 bond next week and slow the pace of gross debt offerings in the fiscal year starting July 1 as the government seeks to rein in budget deficits.
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Australia more than halved its projection for carbon prices in the year starting July 2015 to A$12.10 ($12) a metric ton as the European Union, its planned partner in a cap-and-trade system, struggles with low prices.
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Australian Prime Minister Julia Gillard’s government announced plans to upgrade infrastructure as it boosts health and education spending, in a budget seeking to woo back voters while restoring economic credibility four months before an election.
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Australian Prime Minister Julia Gillard, accustomed to prevailing against the political odds, has history stacked against her quest for re-election.
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The strong Australian dollar gave an “unprecedented whack” to tax revenue the government needed to return the nation’s budget to surplus, Treasurer Wayne Swan said.
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Australia’s dollar dropped below parity with its U.S. counterpart for the first time in more than 10 months, three days after the nation’s central bank cut interest rates to a record low.
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Prime Minister Julia Gillard faces a A$17 billion ($17.4 billion) revenue shortfall in next week’s budget and will scrap plans to boost help for low-paid families as her Labor party trails in polls before the election.
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