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The Latest Breaking News from Jim Chalmers

Calls mount for RBA to intervene with jumbo rate cut

Markets are betting the Reserve Bank will cut rates by 50 basis points at its next meeting as American tariffs batter the global economy.

AAP

Election Diary: Jim Chalmers highlights expectations of May interest rate cut - after the election

Amid the chaos of the tariff crisis and the dark clouds internationally, there is a potential silver lining for Australian mortgage holders.

The Conversation

Afternoon Update Election 2025: Dutton’s policy U-turn; ASX ‘bloodbath’; and one man’s way into the White House group chat

Peter Dutton admitted he ‘made a mistake’ as he backtracked on policies to restrict working from home and sack 41,000 public servants

The Guardian - AU

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Don't be spooked by sliding super, funds warn members

Australians are being urged not to panic about their retirement incomes after Donald Trump's trade war sent global markets into a tailspin.

AAP

Cheap batteries pledge powers Labor re-election push

Labor is promising to lower energy bills by shaving 30 per cent off the cost of installing household batteries if voters re-elect the government on May 3.

AAP

Trump’s tariffs could deliver a $27bn blow to Australia – and the cost of a global trade war would be far higher

How other countries retaliate matters hugely for how Australia’s economy weathers the storm of ‘liberation day’, experts say

The Guardian - AU

Australia records rare US trade surplus on tariff day

The treasurer has ordered new modelling into the impact of Donald Trump's tariffs, as Australia boasts a temporary trade surplus with the United States.

AAP

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Election Diary: Dutton flags intervention in what he sees as ‘woke’ education, but how much could he actually do?

Peter Dutton came perilously close to a DOGE moment on Monday night, when he was asked about getting the “woke” agendas out of the education system. Noting the Commonwealth government “doesn’t own or run a school”, Dutton told a Sky audience in Brisbane that people wondered why there was “a…

The Conversation

Labor accuses Dutton of copying Trump with suggestion children being ‘indoctrinated’ at school

Education minister criticises ‘extreme’ Coalition stance as treasurer warns threat to funding comes ‘right from the Doge playbook’

The Guardian - AU

'Cautious' RBA on hold as election, tariffs threaten

The Reserve Bank of Australia has kept the cash rate unchanged at 4.1 per cent, as global uncertainty clouds the economic outlook.

AAP

Outback deluge pushes Queensland towns to the brink: ‘Out here it’s drought or floods’

Questions about funding and infrastructure as biggest flood since 1974 isolates towns and causes ‘soul-destroying’ stock losses

The Guardian - AU

Australian Black Market Tobacco Sparks Firebombings, Budget Hole

Sky-high tobacco prices in Australia have created a lucrative black market, analysts say, sparking a violent "tobacco war" and syphoning away billions in potential tax revenue.

International Business Times

PM warns of 'heavy fines' for supermarket price gouging

Anthony Albanese is vowing to ban price gouging at the checkout but the opposition claims he's too weak to keep the supermarket giants in line.

AAP

A mug’s game: Murdoch press’s anti-Labor budget coverage foreshadows election attacks to come

Coffees and a clown make front pages as ALP rolls out red carpet for TikTok and Instagram influencers

The Guardian - AU

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AAP

Coalition energises race for votes with gas and petrol

The coalition have pledged gas investment to bring down power prices as they position themselves as stronger leaders for the nation ahead of the election.

The Conversation

Grattan on Friday: an ‘arms race’ of promises as prime minister set to call election

Oops. Anthony Albanese’s own department pre-empted its boss on Thursday. Some unfortunate official, pressing the wrong button, posted on X that the government was in “caretaker” mode, although the prime minister had not yet called the election.

AAP

Cheaper power bills pledge as Dutton spurs gas supply

Opposition Leader Peter Dutton's budget reply has outlined an alternative vision to drive down energy costs and ease pressure on household budgets.

The Guardian - AU

Labor’s budget tax cuts make good economic sense – and have backed Dutton and Taylor into a political corner

The tax cuts announced in Jim Chalmers’ fourth budget have left the opposition leader and shadow treasurer with limited options

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The Conversation

Politics with Michelle Grattan: Jim Chalmers and Angus Taylor on tax top-ups and budget bottom lines

As the election starter’s gun is about to be fired, Tuesday’s budget announced modest income tax cuts as the government’s latest cost-of-living measure. The Coalition has opposed the tax relief, with Peter Dutton’s Thursday budget reply to put forward his policy counters on the cost of living.

The Guardian - AU

Raising cigarette taxes and tobacco wars have created a ‘serious’ budget problem. What can Labor do about it?

Growing illicit tobacco trade is undercutting the legal market, leaving government coffers short of funds to pay for major policies

The Guardian - AU

Afternoon Update: budget tax cuts pass lower house; easing inflation boosts rate cut hopes; and a dachshund on the run

Labor’s legislation passes the lower house without Coalition support

AAP

State chugs on with rail loop despite no budget top-up

The federal treasurer won't budget a "big number" to fill a funding hole in a massive rail line project, but the state's premier vows to push on regardless.

The Guardian - AU

Australia’s easing inflation rate a boost for mortgage holders eyeing next rate cut – and Labor’s election hopes

CPI figures have economists predicting one to three RBA cash rate cuts in 2025 – the question is whether one will occur before federal election

The Conversation

Is this the right budget for these economic times? We asked 5 experts

Treasurer Jim Chalmers has described the income tax cuts in this week’s federal budget as a “top-up”. They will amount to roughly one cup of coffee a week for every taxpayer in the first year.

The Guardian - AU

Morning Mail: Coalition won’t back tax cuts, Black Sea truce agreed, a Perth power play

Treasurer springs surprise with tax cuts and puts opposition on the defensive; Russia and Ukraine will ‘eliminate the use of force’ in area

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