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The Latest Breaking News from Jim Chalmers

‘Progressive’ Labor is dead — supporting stage three tax cuts is pointless

The public won’t reward Labor for sticking to an election policy when its multi-term strategy has failed across the board.

Crikey

Look closely — there are real warning signs in Labor’s MYEFO budget report

The release of the MYEFO report shows tax revenues roaring back. The main reason? Abolishing a tax concession for low- and middle-income earners.

Crikey

Treasurers accuse Albanese government of profiting at states’ expense

Daniel Mookhey blames federal government for NSW’s budget black hole, while Tim Pallas says it is the beneficiary of Victoria’s success

The Guardian - AU

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Australia cricketer Khawaja wears a black armband after a ban on his 'all lives are equal' shoes

Australia batter Usman Khawaja has worn a black armband because he wasn’t allowed to wear shoes branded with a “all lives are equal” humanitarian message on Day 1 of the series-opening cricket test against Pakistan

The Independent UK

Australia cricketer Khawaja wears a black armband after a ban on his ''all lives are equal'' shoes

Usman Khawaja wore a black arm band to show solidarity with people suffering in Gaza, after the ICC prohibited him from wearing shoes with a humanitarian message.

The Hindu

Jim Chalmers’ lucky budget surplus is no comfort to workers whose pay is shrinking

It’s hard to get excited about Myefo figures when median earnings fell, stage-three tax cuts remain sacrosanct and there are no new measures to relieve cost-of-living pressures

The Guardian - AU

There’s a glimmer of hope in the mid-year budget update, but inflation is still a big challenge

While household savings are at their lowest point in a generation, there is cautious optimism to be found in the government’s latest economic outlook report.

Crikey

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More tax in government coffers hailed by treasurer

The mid-year fiscal update contained no extra cost of living relief, although the federal treasurer has not ruled out more help in his next budget.

AAP

There's a glimmer of hope in the mid-year budget update, but inflation is still a big challenge

The federal government knows people are doing it tough. Inflation and interest rate pressures have put the cost-of-living at the forefront of voters’ minds.

The Conversation

Clean energy superpower status remains work in progress

The federal budget update acknowledges more must be done to secure and wire up renewables, with clean energy "superpower" status remaining a work in progress.

AAP

Federal budget improvement is good news for Jim Chalmers but households still face squeeze

While commodity prices are propping up revenue and a likely surplus, household consumption is flat and savings have fallen – and there’s an election coming

The Guardian - AU

Budget update forecasts deficit of $1.1 billion this financial year

The federal budget is headed for a small $1.1 billion deficit this financial year, according to the update released by Treasurer Jim Chalmers and Finance Minister Katy Gallagher on Wednesday morning.

The Conversation

Myefo 2023: Australia’s federal budget on track for wafer-thin $1.1bn deficit

Mid-year economic and fiscal outlook reveals $12.8bn improvement in budget bottom line due to strong labour market and commodity prices

The Guardian - AU

Morning Mail: Chalmers faces crucial choice, Cyclone Jasper to hit today, Cop28 into extra time

Budget update will show boost from commodity prices and immigration; rich countries accused of hypocrisy at climate summit

The Guardian - AU

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AAP

Stubbornly high inflation will eat into real wage gains

The federal budget is looking healthy thanks to a surprise revenue boost but inflation is proving persistent and is continuing to hurt household finances.

The Guardian - AU

Stronger than expected budget position to fuel calls for cost of living relief, economists say

Majority of additional revenue disclosed in midyear budget update likely to be banked to avoid further stoking inflation

Crikey

Chris Bowen calls for end to fossil fuels

Climate and Energy Minister Chris Bowen has told COP28 that all countries must shut down fossil fuels for the world to keep the 1.5-degree goal in sight, and Treasurer Jim Chalmers says ‘modernisation, maximisation and middle Australia’ will be Labor’s renewal and reform mantra on the road to the 2025…

The Guardian - AU

Shifting the needle on the housing crisis: will Chalmers’ plan to slug foreign home buyers be enough?

Treasurer has announced plans to triple fees foreigners pay when buying established homes and to double penalties for leaving a property vacant

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Crikey

And Crikey’s politician of the year for 2023 is…

In a year dominated by the Voice referendum and the cost of living, Crikey’s politicians of the year aren’t likely to please anyone — but that’s 2023 for you.

AAP

Government debt now fastest-growing spending pressure

The federal government's debt bill is set to balloon as higher interest rates push up the cost of borrowing.

The Guardian - AU

Education review released – as it happened

This blog is now closed.

AAP

Migration overhaul targets students and dodgy employers

A plan to fix a faltering migration system will take aim at bogus international students and unscrupulous employers while trying to reduce overall migration.

The Guardian - AU

Australia’s economy 2023 report: how it started v how it’s going

Stronger than expected population growth made inflation hardier than most experts predicted and property prices defied successive rate rises

The Conversation

Grattan on Friday: winners and losers in end-of-year report card on Albanese ministers

It’s not just kids who get report cards (PDFs these days) as school breaks up. So do government ministers, when parliament rises at year’s end.

AAP

New commissioner picked to run tax office

The federal government has filled two pivotal economic roles at the tax office and Reserve Bank of Australia.

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