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The Latest Breaking News from Jim Chalmers

Budget update to reveal Australia's fiscal fortunes

The federal treasurer says he's booked another $20 billion in savings in the budget update, but is keeping mum on whether that means a smaller deficit.

AAP

Rule-breaking AG to repay taxpayers for family holiday

Australia's top law officer will reimburse taxpayers after a family holiday was ruled outside guidelines, but Treasurer Jim Chalmers says she should not resign.

AAP

Successful defence giant's bid won't hurt Japan ties

Australia's relationship with Japan won't be hurt by a decision to allow a South Korean defence giant to double its share in the nation's sovereign shipbuilder.

AAP

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Belt tightening in order as federal payments balloon

More than $12 billion in program cost blowouts demand tighter spending in other parts of the federal budget, the treasurer is warning Australians.

AAP

No guarantee tobacco tax cut would lure Australian smokers from illegal trade and raise more revenue, report says

New research points to need for ‘holistic approach to combating illicit tobacco’ including having support of health advocates

The Guardian - AU

Tax reform call as data centre boom plugs in investment

A jump in forecast business investment in the midyear budget update will be unveiled by the treasurer, which bodes well for Australia's productivity growth.

AAP

Australia is facing its shortest rate cut cycle in 30 years as the RBA hints it may have to start hiking

It’s sure to leave many mortgage holders feeling short-changed given the RBA’s equally historic 13 rate hikes through 2022 and 2023

The Guardian - AU

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View from The Hill: in awkward timing, government ends energy rebate as it defends Wells’ spendathon

There are two glaring lessons for politicians from the Anika Wells’ entitlements affair.

The Conversation

‘Pure political pork’: government ends energy bill rebate as treasurer flags ‘difficult’ budget decisions

Chalmers flags pressure on national finances as Reserve Bank contemplates possibility of interest rate rises next year

The Guardian - AU

'Difficult decision' on energy bill relief payments

Australian households and businesses are going to miss out on further energy bill relief, after a decision was made for the rebate to finish by the year's end.

AAP

Marles says Labor ‘working through’ Trump administration’s Aukus review – as it happened

Follow updates live

The Guardian - AU

View from The Hill: Albanese’s wedding guestlist a mudmap to his inner power sanctum

Those wanting to chart who’s in the prime minister’s inner sanctum need go no further than the political guests invited to his Saturday wedding.

The Conversation

'I love you Jodie': PM weds in intimate ceremony

In a ceremony attended by a small group of family and friends, Australia's prime minister has made history by marrying his partner while in office.

AAP

PM and Haydon's wedding signed, sealed, delivered

Anthony Albanese has wedded Jodie Haydon in front of a small gathering in the nation's capital, becoming the first prime minister to do so in office.

AAP

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The Conversation

Grattan on Friday: when the music stopped, Greens had out-stepped flat-footed Liberals on environment deal

Come dance with me! That was Environment Minister Murray Watt’s invitation to the opposition as he prepared to push through his reforms to the Environment Protection and Biodiversity Conservation Act.

The Guardian - AU

New rules crack down on high risk loans as Australian property market heats up

Regulator announces 20% cap on share of new lending banks can do on mortgages worth more than six times borrower’s income

AAP

Risky home loans capped amid 'runaway' investor growth

A pick-up in riskier forms of home lending has prompted a regulator to set limits on high debt-to-income loans, but it is not expected to impact house prices.

The Guardian - AU

Afternoon Update: Chalmers flags energy bill relief as inflation jumps; legal battles over Giuffre estate; and Robert Irwin’s reality TV win

Inflation climbs 3.8% in the year to October with childcare costs and rent among the drivers

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AAP

Liberals lay out economic pitch to win back voters

Tax cuts and a stronger focus on AI are the centrepiece of the opposition's economic strategy to win back those who deserted them at the last federal election.

The Guardian - AU

Reserve Bank could raise interest rates as early as May after inflation climbs to 3.8%

Treasurer Jim Chalmers says government deciding on energy rebate extension in ‘next few weeks’ as cost of living continues to bite

The Guardian - AU

Public sector told to find significant savings but Jim Chalmers denies ‘big job cuts’

Coalition accuses government of breaking its promise not to cut the public sector as treasurer confirms reductions

AAP

Inflation surges as energy rebates run out of gas

Lower energy rebates and higher housing costs than a year ago have propelled the headline inflation rate to its highest level in 16 months.

AAP

Red tape setting back businesses billions and counting

Companies employ 52,000 dedicated workers, more than Australia's entire coal mining sector, just to comply with regulation strangling business investment.

AAP

Treasurer blocks US takeover of Aussie pharma company

A takeover deal for an Australian pharmaceutical manufacturer has been knocked on the head, with the treasurer citing risks to the supply of critical medicines.

AAP

Slash spending and reform taxes, IMF urges Australia

Australia should reintroduce a mining tax and limit spending growth in the NDIS and aged care, according to a leading global financial institution.

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