Results for: Federal Budget

Australian tourism businesses are facing significant challenges as they strive to regain their global market position, with marketing expenses skyrocketing due to increased competition and external factors. Despite the ongoing impact of the pandemic on international travel, tourism operators are allocating up to twice their previous budgets to attract foreign visitors. Industry experts highlight the need for government support to bolster the sector and ensure Australia remains competitive in the global travel scene.

Despite the inclusion of a significant housing initiative, the Liberal government’s latest budget has failed to impress voters according to a recent poll. While 65% of respondents support the $8.5 billion housing plan, just 21% expressed a positive opinion of the budget overall. Notably, the plan to increase spending on defense received support from 70% of those over the age of 55 but only 45% of those between 18 and 35. The poll also revealed that 47% of respondents prefer spending cuts to balance the budget, while only 16% advocate for increased spending and deficits. The government’s proposed changes to the capital gains tax, intended to improve generational fairness, garnered support from 60% of respondents over the age of 55. However, the Canadian Medical Association has raised concerns about the potential impact on physician recruitment and retention.

The federal government is exploring measures to make Islamic home financing more accessible for Canadians. Halal mortgages, which adhere to Islamic principles, are currently offered by some financial institutions, but none of Canada’s big six banks offer them. The government is considering tax treatment changes and a regulatory sandbox for financial service providers to support halal mortgages.