Budget 2024 breakdown: A look at key spending areas

Get a sneak peek into the 2024 federal budget.

Author

Maziar Foroudian
May 11, 2024

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The circular economy is gaining recognition for its role in combating global challenges like climate change. The decline in global circularity points to a need for policy measures, consumer education, and closed-loop systems to achieve a sustainable future.

SPARK Women in Business Grants have supported five epic women-led businesses with $40,000 over three rounds. Founder Danielle Lewis reflects on self-rejection, video submissions, and community engagement, highlighting common hurdles faced by applicants.

Australia

Four Australian and one New Zealand startup are finalists in PepsiCo's APAC Greenhouse Accelerator Program 2024, competing for a US$100,000 grant. The program supports sustainable food and beverage solutions, connecting startups with mentors and resources.

Australian Economy

The Western Australian budget for 2024-25 focuses on hip-pocket relief, housing, health, and industry development. With a $2.6 billion surplus and strong business confidence, WA is set to lead the nation in economic growth.

RBA governor Michele Bullock's improved communication style diverges from her predecessor's, Philip Lowe. The decision to maintain a 4.35% interest rate reflects a cautious approach, hinting at a potential longer period of higher rates.

Labor government will allocate $11.3 billion for social housing initiatives over five years, aiming to tackle the housing crisis. The plan includes a $9.3 billion National Agreement on Social Housing and Homelessness.

World

According to recent Fed commentary, further interest rate hikes are unlikely, but not inconceivable. While officials currently plan to keep rates steady to tame inflation, they are open to increases if necessary. Markets expect rates to decrease due to cooling inflation.

India is a top investment choice for executives seeking to diversify away from China, with 65% planning to increase investments by over 50%. Southeast Asia also emerges as a key region for investment growth.

Tech

Perplexity AI, a unique conversational search engine founded by former Google and OpenAI employees in 2022, provides concise answers to user-generated queries using LLMs like GPT-4. Offering more depth than ChatGPT, it excels in research-heavy professions.

Google Search queries without SGE increased from 25% to 65% last month due to Google's Opt-in results type. This shift, coupled with a decrease in vertical space and new warnings, highlights the importance of adapting to AI Search.

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