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The Latest Breaking News from Jim Chalmers

Budget clouded by global wars and weak economic growth

Treasurer Jim Chalmers will use talks in Washington to take the temperature of the global economy as he puts the finishing touches on his third federal budget.

AAP

Critical minerals loan will help export sector grow: PM

Anthony Albanese says a $400 million loan to the critical minerals sector will help expand exports into nearby southeast Asia.

AAP

Budget surplus 'still our goal' despite war, inflation

A budget surplus is "still our goal" but the degree of difficulty has risen with global economic uncertainty hitting tax revenue, Treasurer Jim Chalmers says.

AAP

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Manufacturing push is no 'free-for-all': treasurer

A plan to promote local manufacturing in a net-zero economy will incentivise private investment, not replace it with government funds, the treasurer says.

AAP

Labor’s interventionist industry policy aims big. But how can Australia compete with the US and China?

The Albanese government has shed little light on how billions of dollars will be divvied up. The treasurer’s ‘favourite economist’ might provide some clues

The Guardian - AU

Firms would have been less able to accelerate prices and inflation with proposed competition policy, Chalmers says

Treasurer says proposed reforms would mean ‘more confidence’ in mergers scrutinised by the ACCC

The Guardian - AU

'Hit and miss' merger rules reworked in major shake-up

Sweeping changes to merger rules have been welcomed by the national competition regulator and received a wary but hopeful response from big business.

AAP

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Labor targets unfair company mergers in competition policy overhaul

‘Reforms that address the decline in competition can deliver big economic benefits,’ treasurer to tell ACCC

The Guardian - AU

Emerson says breaking up supermarkets ‘too heavy handed’ as Dutton derides ‘Mickey Mouse review’

Review chief defends decision not to recommend powers that could break up supermarkets for bad behaviour

The Guardian - AU

Hefty fines, tougher code could cut grocery prices: PM

Shoppers could pay less for groceries under plans to impose heavy financial penalties on supermarkets that fail to comply with a code of conduct.

AAP

Australia’s big supermarkets could face penalties of up to $10m under proposed mandatory code

Government report stops short of recommending powers to break up big chains despite calls for forced divestiture laws

The Guardian - AU

Australia’s east coast forecast to avoid gas shortfall despite claims of looming supply crisis

ACCC report says region is expected to have surplus of six petajoules in third quarter ‘even if all uncontracted gas is exported’

The Guardian - AU

New economy 'needs critical reforms to build trust'

Australian success in modern industry requires a key role for government in the economy not merely doling out loans from various funds, economic research finds.

AAP

Mandatory climate reporting regime pushed out to 2025

Corporations will be covered by a climate reporting regime under new laws but not yet, as Treasurer Jim Chalmers bends to pressure from the big end of town.

AAP

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AAP

Labor on track to kick 116-year by-election hoodoo

The winner of the Dunstan by-election in Adelaide's eastern suburbs is likely to be confirmed as Labor's Cressida O'Hanlon when counting resumes.

The Guardian - AU

‘He is a tool’: the NSW and Victorian rivalry rears its head over the GST. What happened to the lovefest?

Victorian treasurer rips into Chris Minns for ‘welfare state’ comments after the latest carve-up of GST revenue

The Guardian - AU

Afternoon Update: deadly mine collapse ‘should have been avoided’; iron lung patient dies; and Dutton’s radioactive rhetoric

WorkSafe have committed to ‘complex, detailed investigation’ into mine collapse

The Guardian - AU

Don’t expect a ‘big cash splash’ in this year’s budget, Jim Chalmers tells taxpayers

Treasurer says falling iron ore prices and a weaker labour market mean the large upgrades to revenue seen in the last two budgets will not be repeated

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The Guardian - AU

Morning Mail: new revelations over flawed PPE deal; US threatens TikTok ban; NSW to toughen polluter laws

Government knew obscure retailer had no PPE experience; US House of Representatives passes TikTok bill; NSW to give EPA new powers

AAP

No budget 'cash splash' as inflation still main game

Treasurer Jim Chalmers has managed expectations for cost of living relief ahead of the May budget and played down the possibility of a sizeable second surplus.

The Guardian - AU

Second surplus on track for Australia but budget will report a fall in revenue, treasurer says

Jim Chalmers says slide in iron ore prices and uptick in jobless rate mean budget will report a much smaller revenue upgrade than in recent years

The Guardian - AU

Interest rate rise unlikely after sluggish quarter of GDP growth, Australian economists say

Spending on Taylor Swift concerts defies pattern of consumers tightening their belts, with CBA predicting a September rate cut

The Guardian - AU

Greens call on Labor to drop changes to gas project consultations in return for support on vehicle emissions

Leader Adam Bandt has accused the government of a ‘clear broken promise’ for proposing legislation to benefit the gas industry

AAP

Investment expert warns prices 'rollercoaster' possible

Unwinding pandemic effects will cause inflation to fall quickly, a key investment strategist expects, before supply shocks keep it higher over the long term.

The Guardian - AU

Passengers treated after ‘technical problem’ – as it happened

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