Strategy

Climate change inaction will cost Australia $3.4 trillion and 880,000 jobs over the next 50 years, according to a new report from Deloitte

Deloitte has released a new report into the economic impact Australia faces if there is insufficient action to prevent climate change. If left unchecked, climate change could cost $3.4 trillion in losses to Australia’s economy by 2070. It could also lead to 880,000 job losses. Visit Business Insider Australia’s homepage […]
Climate change inaction will cost Australia $3.4 trillion and 880,000 jobs over the next 50 years, according to a new report from Deloitte
Markets

The federal budget could squeak into surplus this financial year

Revenue collection is running way ahead of federal budget forecasts. This means that the budget deficit hole is now likely to be filled earlier than thought, probably next financial year. Deloitte Access Economics forecasts a modest underlying cash deficit of $4.9 billion in 2018-19, the smallest since the GFC. Revenue […]
The federal budget could squeak into surplus this financial year
Markets

Australian business investment is flat as the housing boom ends

Business investment in Australia is relatively flat, according to the quarterly Investment Monitor by Deloitte Access Economics. The value of projects fell by $6.4 billion to $706 billion, a 0.9% drop from the previous quarter and a nine-year low. Deloitte says part of the problem is the slowly deflating housing […]
Australian business investment is flat as the housing boom ends
Markets

Another tough year ahead for retailers

Real (inflation-adjusted) retail sales grew 2.6% in 2017-18, an improvement on 1.9% of the previous year. This was driven by a strong 1.3% quarterly increase in June. But household budgets are under pressure from tepid wage growth, falling house prices, and rising non-discretionary costs. Overall growth in retail spending, fueled […]
Another tough year ahead for retailers
Markets

Australian property prices will get worse as a mini-credit crunch takes hold

The latest quarterly Business Outlook by Deloitte Access Economics analyses a property mini-credit crunch. The economists say property prices will “get worse before they get better”. Deloitte also says the mini-credit crunch will sound the “death knell” for the east coast stamp duty bonanza. Higher funding costs for the banks […]
Australian property prices will get worse as a mini-credit crunch takes hold
Markets

Deloitte is forecasting a ‘modest’ lift in Australian retail sales

Deloitte Access Economics forecasts retail turnover to rise to 2.6% in 2018-19. The imposition of GST from next month on overseas sales will support “a more level playing field for the retail sector” The rise of online spending is the greatest threat to big box and department store retailers. Retail […]
Deloitte is forecasting a ‘modest’ lift in Australian retail sales
Markets

Deloitte says interest rates won’t move in 2018

Inflation is too sleepy to drive interest rate rises in 2018, according to the latest quarterly Business Outlook from Deloitte Access Economics. “The world is stubbornly slow to reflate, and that is leaving central banks travelling pretty slowly in their quest to lift rates from what, in many places, are […]
Deloitte says interest rates won’t move in 2018
Markets

Australia is about to see a big rise in transport infrastructure projects

The Australian economy is about to be lifted by a wave of investment in transport infrastructure projects, hitting $16 billion in the next three years. The September quarter Deloitte Access Economics Investment Monitor shows the outlook for business investment in Australia healthier than it’s been for some time. And Australia […]
Australia is about to see a big rise in transport infrastructure projects
Markets

DELOITTE: Australians are shopping through gritted teeth

Australian retailers face shoppers spending through gritted teeth, plus increasing competition and aggressive discounting, according to Deloitte Access Economics’ latest Retail Forecasts report. Partner David Rumbens says strengthening employment, including a rebound in full-time job growth, and continued wealth gains from housing, were providing the basis for a lift in […]
DELOITTE: Australians are shopping through gritted teeth
News

4 out of 10 Australians are sleep deprived

Inadequate sleep is a major health and safety hazard that costs Australia $66 billion a year and contributes to the death of many, the latest research has found. A study by Deloitte Access Economics estimates more than one Australian will die every day, or 394 a year, from falling asleep […]
4 out of 10 Australians are sleep deprived
News

eBay is looking at blocking Australians from foreign sellers

eBay says the coming 10% GST on goods bought from foreign sellers may force the online platform to block Australians buying overseas. The current GST exemption for goods of less than $1000 will end on July 1. Platforms, such as eBay and Alibaba, will be required to collect the tax […]
eBay is looking at blocking Australians from foreign sellers
Tech

Here’s how huge Airbnb has become in Sydney

A new Deloitte Access Economics report into the sharing economy in New South Wales has offered an insight into the massive growth of the short-term accommodation market in the state, with Sydney becoming one of the top 5 markets in the world for Airbnb. Deloitte’s Developments in the Collaborative Economy […]
Here’s how huge Airbnb has become in Sydney
Tech

The size of the NSW sharing economy grew by $1 billion last year

The growing popularity of Uber, Airbnb and eBay saw the sharing economy grow by $1 billion in New South Wales last year, according to new research by Deloitte Access Economics. Between 2014/15 and 2015/16, revenue jumped 68% from $1.6 billion to $2.6 billion, according to the Deloitte’s latest Developments in […]
The size of the NSW sharing economy grew by $1 billion last year