‘Future of our country': Australian debt forecast deficits ‘all the way to 2063'
Sky News host Paul Murray discusses the future of Australia under Labor's forecast budget deficits.
'It is the future of the Australian relationship between government, debt and the future of our country,' Mr Murray said.
'Budget deficits … all the way to 2063.'

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


The Advertiser
an hour ago
- The Advertiser
Madrid rivals ride the same wave in SailGP move
Wall Street investment powerhouse Ares Management has sailed into partnership with Real Madrid striker Kylian Mbappe, acquiring a minority stake in the France SailGP Team - where old rivals suddenly find themselves in the same boat. The $US546 billion asset manager, which counts Atletico Madrid among its sports investments, now shares an ownership table with Mbappe's Coalition Capital in the high-speed sailing franchise, creating a curious alliance between the Spanish capital's two soccer teams. "We are thrilled to enter the league and join the France SailGP Team's existing owners group at this inflection point," said Jim Miller, Co-Lead of Ares' Sports, Media and Entertainment strategy, whose firm also holds stakes in Inter Miami and McLaren Racing. The investment coincides with SailGP revealing it will add two new national teams for its 2026 season, expanding to 14 flying catamarans that rocket across global waters at speeds approaching 100 km/h. "The investment in our French team by an organisation with a stellar portfolio underlines the strength of SailGP's global league model," said league managing director Andrew Thompson. One of the six original SailGP Teams, the French team is spearheaded by driver Quentin Delapierre who assembled a stellar crew line-up when he took over as driver in Season 2. Known for executing stellar starts and performing in wild and windy conditions, the team holds the SailGP racing speed record of 99.94 km/h set in Saint Tropez, Season 4. France are currently sixth in the standings after a recent podium finish in New York. Spain, led by Olympic champion Diego Botin, top the 2024–25 season standings with 46 points. The next race comes at the British Sail Grand Prix in Portsmouth on July 19–20. Founded in 2019 by Oracle's Larry Ellison and sailing great Russell Coutts, SailGP has rapidly evolved from centralised ownership to a franchise model that has attracted celebrities and institutional investors alike. Hollywood stars Hugh Jackman and Ryan Reynolds recently acquired the Australian team, while a consortium of sports industry leaders took control of the Italian entry. Professional services firm Deloitte will manage the selection process for the two new teams, with initial bids closing in mid-August and final decisions expected by early September. Wall Street investment powerhouse Ares Management has sailed into partnership with Real Madrid striker Kylian Mbappe, acquiring a minority stake in the France SailGP Team - where old rivals suddenly find themselves in the same boat. The $US546 billion asset manager, which counts Atletico Madrid among its sports investments, now shares an ownership table with Mbappe's Coalition Capital in the high-speed sailing franchise, creating a curious alliance between the Spanish capital's two soccer teams. "We are thrilled to enter the league and join the France SailGP Team's existing owners group at this inflection point," said Jim Miller, Co-Lead of Ares' Sports, Media and Entertainment strategy, whose firm also holds stakes in Inter Miami and McLaren Racing. The investment coincides with SailGP revealing it will add two new national teams for its 2026 season, expanding to 14 flying catamarans that rocket across global waters at speeds approaching 100 km/h. "The investment in our French team by an organisation with a stellar portfolio underlines the strength of SailGP's global league model," said league managing director Andrew Thompson. One of the six original SailGP Teams, the French team is spearheaded by driver Quentin Delapierre who assembled a stellar crew line-up when he took over as driver in Season 2. Known for executing stellar starts and performing in wild and windy conditions, the team holds the SailGP racing speed record of 99.94 km/h set in Saint Tropez, Season 4. France are currently sixth in the standings after a recent podium finish in New York. Spain, led by Olympic champion Diego Botin, top the 2024–25 season standings with 46 points. The next race comes at the British Sail Grand Prix in Portsmouth on July 19–20. Founded in 2019 by Oracle's Larry Ellison and sailing great Russell Coutts, SailGP has rapidly evolved from centralised ownership to a franchise model that has attracted celebrities and institutional investors alike. Hollywood stars Hugh Jackman and Ryan Reynolds recently acquired the Australian team, while a consortium of sports industry leaders took control of the Italian entry. Professional services firm Deloitte will manage the selection process for the two new teams, with initial bids closing in mid-August and final decisions expected by early September. Wall Street investment powerhouse Ares Management has sailed into partnership with Real Madrid striker Kylian Mbappe, acquiring a minority stake in the France SailGP Team - where old rivals suddenly find themselves in the same boat. The $US546 billion asset manager, which counts Atletico Madrid among its sports investments, now shares an ownership table with Mbappe's Coalition Capital in the high-speed sailing franchise, creating a curious alliance between the Spanish capital's two soccer teams. "We are thrilled to enter the league and join the France SailGP Team's existing owners group at this inflection point," said Jim Miller, Co-Lead of Ares' Sports, Media and Entertainment strategy, whose firm also holds stakes in Inter Miami and McLaren Racing. The investment coincides with SailGP revealing it will add two new national teams for its 2026 season, expanding to 14 flying catamarans that rocket across global waters at speeds approaching 100 km/h. "The investment in our French team by an organisation with a stellar portfolio underlines the strength of SailGP's global league model," said league managing director Andrew Thompson. One of the six original SailGP Teams, the French team is spearheaded by driver Quentin Delapierre who assembled a stellar crew line-up when he took over as driver in Season 2. Known for executing stellar starts and performing in wild and windy conditions, the team holds the SailGP racing speed record of 99.94 km/h set in Saint Tropez, Season 4. France are currently sixth in the standings after a recent podium finish in New York. Spain, led by Olympic champion Diego Botin, top the 2024–25 season standings with 46 points. The next race comes at the British Sail Grand Prix in Portsmouth on July 19–20. Founded in 2019 by Oracle's Larry Ellison and sailing great Russell Coutts, SailGP has rapidly evolved from centralised ownership to a franchise model that has attracted celebrities and institutional investors alike. Hollywood stars Hugh Jackman and Ryan Reynolds recently acquired the Australian team, while a consortium of sports industry leaders took control of the Italian entry. Professional services firm Deloitte will manage the selection process for the two new teams, with initial bids closing in mid-August and final decisions expected by early September. Wall Street investment powerhouse Ares Management has sailed into partnership with Real Madrid striker Kylian Mbappe, acquiring a minority stake in the France SailGP Team - where old rivals suddenly find themselves in the same boat. The $US546 billion asset manager, which counts Atletico Madrid among its sports investments, now shares an ownership table with Mbappe's Coalition Capital in the high-speed sailing franchise, creating a curious alliance between the Spanish capital's two soccer teams. "We are thrilled to enter the league and join the France SailGP Team's existing owners group at this inflection point," said Jim Miller, Co-Lead of Ares' Sports, Media and Entertainment strategy, whose firm also holds stakes in Inter Miami and McLaren Racing. The investment coincides with SailGP revealing it will add two new national teams for its 2026 season, expanding to 14 flying catamarans that rocket across global waters at speeds approaching 100 km/h. "The investment in our French team by an organisation with a stellar portfolio underlines the strength of SailGP's global league model," said league managing director Andrew Thompson. One of the six original SailGP Teams, the French team is spearheaded by driver Quentin Delapierre who assembled a stellar crew line-up when he took over as driver in Season 2. Known for executing stellar starts and performing in wild and windy conditions, the team holds the SailGP racing speed record of 99.94 km/h set in Saint Tropez, Season 4. France are currently sixth in the standings after a recent podium finish in New York. Spain, led by Olympic champion Diego Botin, top the 2024–25 season standings with 46 points. The next race comes at the British Sail Grand Prix in Portsmouth on July 19–20. Founded in 2019 by Oracle's Larry Ellison and sailing great Russell Coutts, SailGP has rapidly evolved from centralised ownership to a franchise model that has attracted celebrities and institutional investors alike. Hollywood stars Hugh Jackman and Ryan Reynolds recently acquired the Australian team, while a consortium of sports industry leaders took control of the Italian entry. Professional services firm Deloitte will manage the selection process for the two new teams, with initial bids closing in mid-August and final decisions expected by early September.

The Age
2 hours ago
- The Age
Treasurer opens the door to fresh tax cuts
Fresh tax cuts could be on the table at the Albanese government's August reform summit that Treasurer Jim Chalmers has signalled he will use as a springboard to go further than the policies Labor took to the last election. Chalmers used a speech to the National Press Club on Wednesday to flag Labor would go beyond the commitments it made before the May 3 election, which included a 2 per cent tax cut, as part of a productivity overhaul but stopped short of endorsing specific new policies. Tax reform, the Treasurer said on Tuesday, should lift productivity, simplify the system and improve intergenerational equity as well as 'lowering the personal tax burden and increasing the rewards from work.' Labor used a summit in 2022 to build support for a raft of union-friendly industrial relations changes and it has scheduled a three-day Productivity Summit for August where it will assemble industry, economic, social and political leaders to plan fresh reform. 'As the PM made clear here, delivering our commitments in housing and energy and across the board is the best place to start – but it's not the limit of our ambitions,' Chalmers said. 'They're a foundation not a destination.' 'We have a mandate to deliver the policies and plans we took to the election, and a duty to build on them.' At a press conference in Melbourne on Wednesday, Coalition finance spokesman James Paterson said the opposition acknowledged the system could be more efficient and was prepared to discuss tax reform as long as it did not increase rates. But he cautioned Chalmers could be planning to raise taxes instead. 'Jim Chalmers is like the arsonist pretending to be a firefighter turning up to put out the fires that he and the Albanese government themselves set in their first term,' Paterson said. Chalmers said that plans from the summit would have to be in the national interest, budget neutral or positive, specific and practical.

AU Financial Review
3 hours ago
- AU Financial Review
Top executives see take-home pay stagnate amid golden parachute slump
The take-home pay of the country's top 100 chief executives has largely flatlined over the past decade, pushed lower by a slump in multimillion-dollar golden parachutes, research commissioned by super funds shows. The highest-paid chief executive in Australia was outside the ASX 100 – Victor Herrero, recently departed from Lovisa, the fast-fashion jewellery chain backed by billionaire Brett Blundy. The study also included those based in the United States, with News Corporation's Australian chief executive Robert Thomson topping the list with $41.9 million.