In this episode of the Daily Financial Services News Wrap, Paige Estritori discusses key updates in the finance world. First, the 2024-25 New South Wales budget, backed by the Minns government, will redirect $5.7 billion for disaster prevention and promote insurance affordability. The budget is welcomed by industry leaders for prioritizing security. The episode also focuses on the struggle of Generation X with retirement savings, and the growing interest in digital financial advice. With regards to finance, Australian businesses face a 43% rise in scheme fees, despite a 16% growth in card usage, prompting the Reserve Bank of Australia to consider regulatory measures. Last but not least, ASIC continues its regulatory crackdown in the cryptocurrency world, illustrating the need for stringent compliance. Get more valuable updates at financialservicesonline.com.au.
