Relief for energy costs as Federal Government releases budget
Low cost loans for solar panels and electrification for households and business continue the push towards renewable energy
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Relief for household energy costs, payment increases for job seekers and a bonus tax discount to help small businesses electrify – these are just a few takeaways from the Federal Government’s 2023 budget announced by Treasurer Jim Chalmers last night.
All businesses with an annual turnover of less than $50m will be eligible for 20 percent of spending that goes towards electrification and energy efficiency, including purchasing more efficient white goods, as well as upgrading to electric heating and cooling.
In further news around energy, the Government sought to relieve cost of living pressures with their energy bill relief plan, which will lower the costs for eligible households by up to $500. Prime Minister Anthony Albanese has forecast that the measure should help lower inflation by 0.75 percent.
“This is a responsible budget,” the Prime Minister said. “What we’ve done is to take pressure off families without putting pressure on inflation.
“What we haven’t done is put cash payments that would have added to inflation.”
Households seeking to improve their energy efficiency will have access to a low interest loan, with 110,000 on offer for upgrades such as solar panels and double glazing, as well as more energy efficient appliances. The Federal Government has set aside $1b to establish the fund.
Following repeated calls for more support aimed at job seekers, the budget also includes a $40 a fortnight increase in the JobSeeker payment, which still falls short of the recommendations by the Economic Inequality taskforce. Treasurer Jim Chalmers said on ABC News Breakfast that his government had ‘done what we can’ to address the needs of job seekers.
“We’ve tried to do as much as we can without blowing the budget and adding substantially to inflationary pressures in the economy,” he said.
The budget also sought to relieve pressure on the Medicare system, tripling the bulk billing system for the most common consultations
A long-standing cultural cruise and a new expedition-style offering will soon operate side by side in French Polynesia.
The pandemic-fuelled love affair with casual footwear is fading, with Bank of America warning the downturn shows no sign of easing.
The pandemic-fuelled love affair with casual footwear is fading, with Bank of America warning the downturn shows no sign of easing.
2 minThe boom in casual footware ushered in by the pandemic has ended, a potential problem for companies such as Adidas that benefited from the shift to less formal clothing, Bank of America says.
The casual footwear business has been on the ropes since mid-2023 as people began returning to office.
Analyst Thierry Cota wrote that while most downcycles have lasted one to two years over the past two decades or so, the current one is different.
It “shows no sign of abating” and there is “no turning point in sight,” he said.
Adidas and Nike alone account for almost 60% of revenue in the casual footwear industry, Cota estimated, so the sector’s slower growth could be especially painful for them as opposed to brands that have a stronger performance-shoe segment. Adidas may just have it worse than Nike.
Cota downgraded Adidas stock to Underperform from Buy on Tuesday and slashed his target for the stock price to €160 (about $187) from €213. He doesn’t have a rating for Nike stock.
Shares of Adidas listed on the German stock exchange fell 4.5% Tuesday to €162.25. Nike stock was down 1.2%.
Adidas didn’t immediately respond to a request for comment.
Cota sees trouble for Adidas both in the short and long term.
Adidas’ lifestyle segment, which includes the Gazelles and Sambas brands, has been one of the company’s fastest-growing business, but there are signs growth is waning.
Lifestyle sales increased at a 10% annual pace in Adidas’ third quarter, down from 13% in the second quarter.
The analyst now predicts Adidas’ organic sales will grow by a 5% annual rate starting in 2027, down from his prior forecast of 7.5%.
The slower revenue growth will likewise weigh on profitability, Cota said, predicting that margins on earnings before interest and taxes will decline back toward the company’s long-term average after several quarters of outperforming. That could result in a cut to earnings per share.
Adidas stock had a rough 2025. Shares shed 33% in the past 12 months, weighed down by investor concerns over how tariffs, slowing demand, and increased competition would affect revenue growth.
Nike stock fell 9% throughout the period, reflecting both the company’s struggles with demand and optimism over a turnaround plan CEO Elliott Hill rolled out in late 2024.
Investors’ confidence has faded following Nike’s December earnings report, which suggested that a sustained recovery is still several quarters away. Just how many remains anyone’s guess.
But if Adidas’ challenges continue, as Cota believes they will, it could open up some space for Nike to claw back any market share it lost to its rival.
Investors should keep in mind, however, that the field has grown increasingly crowded in the past five years. Upstarts such as On Holding and Hoka also present a formidable challenge to the sector’s legacy brands.
Shares of On and Deckers Outdoor , Hoka’s parent company, fell 11% and 48%, respectively, in 2025, but analysts are upbeat about both companies’ fundamentals as the new year begins.
The battle of the sneakers is just getting started.
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