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The Latest Breaking News from Jim Chalmers

Afternoon Update: Liberals say Ley’s leadership all but over; day of mourning for Bondi; and praise for Canadian PM’s ‘stunning’ speech

Angus Taylor and Andrew Hastie are leading contenders to replace Ley as Nationals leader confirms his party will sit separate from Liberals

The Guardian - AU

Jim Chalmers says Canadian PM’s ‘stunning’ denunciation of Trump is being widely discussed in Australian government

Treasurer joins former PM Malcom Turnbull in praising Mark Carney’s comments at the World Economic Forum gathering in Davos

The Guardian - AU

Global body urges treasurer to spend less, reform taxes

Global economic body the OECD has called on Australia to rein in the NDIS and make changes to property taxes to help fix the budget and boost productivity.

AAP

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IMF warns of AI bubble risk to global growth outlook

Australia is projected to endure drawn-out, above-target inflation, global economic body the International Monetary Fund says.

AAP

Penny Wong says Sussan Ley’s leadership ‘unsalvageable’ after Coalition flags opposition to new hate laws

Christian and Islamic leaders publish joint letter criticising the bill as Labor faces uphill battle to pass reforms

The Guardian - AU

National recycling pilot to stop solar energy eclipse

A national trial will recycle solar panels at the end of their working lives to extract valuable metals and boost Australia's circular economy.

AAP

Australia is betting on a new ‘strategic reserve’ to loosen China’s grip on critical minerals

The federal government has unveiled new details of its plan to create a A$1.2 billion critical mineral reserve.

The Conversation

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How treasurer could make capital gains taxes 'fairer'

The capital gains tax discount should be reduced to address economic inequity and make housing more affordable, economists say.

AAP

Australia unveils stockpile plan for critical minerals

A $1.2 billion investment in critical minerals will be spruiked by Australia when finance ministers from major economies convene in the US capital.

AAP

Charges and changes: electric car shifts coming in 2026

Twists and turns are coming to Australia's electric car market, from a potential road-user charge and tax reform to the price of models launching on our shores.

AAP

Self-interest widening wealth gap between old and young

Bridging the gap in wealth between older and young Australians will require a major recalibration in housing attitudes and policies, a leading economist says.

AAP

Proposal to allow use of Australian copyrighted material to train AI abandoned after backlash

Productivity Commission recommends waiting three years to establish review into technology after furious response from creative industries

The Guardian - AU

Clock ticks on support for rejigged super tax changes

A six-month heads up on tax changes is tight but manageable, big super funds say, although Labor still needs to find a friend to get the laws past parliament.

AAP

Bold company tax proposal still friendless after revamp

An alternative corporate tax proposal could have greater economic benefits if a requirement to be budget-neutral was removed, the Productivity Commission says.

AAP

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AAP

Dishing the public dosh to force RBA's hand on rates

With the government unlikely to restrain public spending, the Reserve Bank will have to lift rates in 2026 to keep inflation under control, economists say.

The Conversation

Politics with Michelle Grattan: Jim Chalmers on the Bondi terror attack and the mid-year budget update

The mid-year budget update would normally be big news. But this week it’s been entirely overshadowed by the devastating Bondi terror attack.

AAP

Budget takes $8.2b hit thanks to black market tobacco

The treasurer has flagged more funding to root out illicit tobacco syndicates but refused to lower the excise burning a hole in the federal budget.

The Guardian - AU

Afternoon Update: Bondi gunman charged with murder and terrorism; 13th victim named; and Khawaja falls short of Ashes ton

Naveed Akram has been charged with 59 offences, including committing a terrorist act and 15 counts of murder

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The Guardian - AU

Rate hikes, rising inflation and difficult decisions: key takeaways from Jim Chalmers’ budget update

Treasurer says his Myefo, which shows a small improvement in the budget bottom line, is ‘the most responsible’ on record

The Conversation

The budget update shows a slight improvement in the federal deficit, but it’s mostly due to good luck

The federal government’s mid-year budget update shows a modest improvement in the deficit forecast in 2025–26, but much of this comes from a larger-than-forecast tax take.

AAP

Science funding boost amid 'aggressive' CSIRO job cuts

The national science agency that invented wi-fi has received a substantial budget commitment but the union representing its workers says the sum is not enough.

The Guardian - AU

Morning Mail: ‘Remember her name’ plead youngest Bondi victim’s parents, Syria hails hometown hero, gunmen’s Philippines connection

Devastated couple mourn the loss of 10-year-old Matilda along with hundreds of others in Bondi; family of Ahmed al-Ahmed celebrate his worldwide fame

AAP

Chalmers spins battery blowout into budget savings

Clever accounting has been used by the treasurer to claim the government's policy decisions improved the budget bottom line for the first time in eight years.

The Conversation

Mid-year budget update will project deficit of nearly $37 billion for current financial year

Wednesday’s budget update will project a deficit of $36.8 billion for this financial year, which is $5.4 billion better than forecast in the Pre-election Economic and Fiscal Outlook (PEFO) issued before the May election.

The Guardian - AU

Jim Chalmers won’t have good news in Myefo. Instead, he’ll be trying to sell Labor’s good intentions

The unwelcome return of inflation means Anthony Albanese’s government is desperate not to be seen to be adding to the problem

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