May budget ‘needs to strike right balance’

Treasurer Jim Chalmers says Australia's banks are well-capitalised, well-regulated and well-placed.

Treasurer Jim Chalmers has set out eight priorities for the next federal budget, while warning Australia is not immune to the ongoing volatility in global financial markets.

“Events of recent weeks show we now have more volatility in the global financial system, brought on by sharp and synchronised rate rises around the world,” he wrote in an opinion piece published in The Australian on Friday.