Australia Holds AAA as Housing Slump Spreads and Tax Reforms Face Scrutiny

S&P Global retains Australia's triple-A credit rating, citing the government's tax changes and spending cuts as key supports. The rating agency noted budget reforms—including $80B in property tax measures and $230B in NDIS cuts—will help manage structural spending pressures over the next decade. Treasurer Jim Chalmers hailed it as a "powerful endorsement" while acknowledging growing fiscal pressures ahead.

Housing Downturn Engulfs Major...