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The Latest Breaking News from Jim Chalmers

Australia will soon have second highest global inflation rate: IMF

The International Monetary Fund says Australia’s rate of inflation will soon exceed that of almost all advanced economies, and David Crisafulli finally gives a straight answer on abortion.

Crikey

Australia facing further economic troubles

Australia is facing ongoing economic challenges as Labor holds out hope interest rates will come down before the federal election.

AAP

Strong labour force report dims rate cut prospects

Interest rates are unlikely to fall soon after new data showed workers are being onboarded by employers in huge numbers, reflecting a resilient jobs market.

AAP

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Albanese’s $4.3m home purchase could increase pressure to change property tax laws, Labor MPs suggest

Prime minister says he is focused on solving the housing crisis but the opposition has accused him of being out of touch with voters

The Guardian - AU

Australia to ban ‘dynamic pricing’ of tickets after Green Day uproar

Australian Prime Minister Anthony Albanese says he will outlaw ‘dodgy practices’ that rip off customers.

Al Jazeera

Dodgy subscription traps and hidden fees to be banned

A slew of manipulative sales tactics, including subscription traps and hidden fees, are in the federal government's sights.

AAP

Australia announces plans to ban debit card surcharges

Australian Prime Minister Anthony Albanese says move would help ease cost of living for households.

Al Jazeera

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Debit card surcharges could be scrapped in crackdown

Surcharges on debit card purchases could become a thing of the past by 2026, but some groups are warning the fees could be imposed in other ways.

AAP

Shoppers to no longer pay fees when using debit cards under new Albanese government plan

Treasurer says uncovering ‘unfair’ practices also part of proposed surcharge revamp designed to give consumers better deal and cut small business’s costs

The Guardian - AU

Grattan on Friday: Oil prices could be where the Middle East crisis collides with Australia’s cost-of-living crisis

Angry, accusatory partisan exchanges over the Middle East war have dominated federal politics this week. But for most ordinary voters the issue remains “over there”.

The Conversation

Global petrol price spike due to Middle East conflict to hit Australian motorists, Jim Chalmers warns

‘Rule of thumb’ is Australia’s inflation rises 0.4% when a 10% increase to crude oil price lasts a year

The Guardian - AU

More pain at the petrol pump as oil prices spike

Conflict in the Middle East is having a flow-on effect for Australian fuel prices but petrol stations have been cautioned not to take motorists for a ride.

AAP

New merger laws to shelve 'damaging' supermarket deals

The competition watchdog will have to be notified of every supermarket merger to prevent major players from gaining an unfair advantage.

AAP

Failure to launch: why the Albanese government is in trouble

It wasn’t meant to be like this.

The Conversation

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The Guardian - AU

IMF backs RBA not cutting interest rates and says phasing out tax breaks for property investors would be ‘equitable’

‘The RBA’s decision to maintain its restrictive policy stance in the near-term is appropriate,’ fund says in latest assessment report

AAP

Australia may miss billions in green Chinese investment

Chinese investment in Australia has fallen, despite the nation's growing budget for renewable energy projects in the transition to net zero emissions by 2050.

Crikey

Iran begins attack on Israel

Iran has launched missiles at Israel in retaliation for the assassination of Hamas and Hezbollah leaders, and the first (and only) US vice presidential debate is today.

The Conversation

More than 430,000 Australians could have owned their own home today – if not for 7 prime ministers’ inaction

Thirteen years ago at the tax summit called to discuss the Henry Tax Review, David Koch stopped discussion of negative gearing dead in its tracks.

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AAP

Expert rejects supermarket land banking concerns

A retail expert says it's "not unreasonable" for supermarkets to spend years developing sites for stores, as the government moves to crack down on land banking.

Crikey

The power and impotence of Chalmers’ surplus, according to readers

It’s either totally unimpressive or a demonstration of incredible economic talent, depending on who you ask.

The Guardian - AU

Afternoon Update: Labor threatens visa cancellations after protests; Baby Reindeer wrongly billed as ‘true story’; and a scrappy punk band’s evolution

Home affairs minister Tony Burke issues statement after some marchers carried Hezbollah flags

The Guardian - AU

Victoria police identify six possible criminal incidents after Hezbollah flags seen at weekend protests

Federal government warns against importing ‘radical ideologies of conflict’ and threatens to cancel visa of anyone inciting ‘discord’

Crikey

Who gives a stuff about the surplus?

Even those who might care about being ‘back in black’ seem underwhelmed by Chalmers’ latest victory lap.

AAP

Advice on negative gearing 'not out of the ordinary'

Debate over housing policy prompted Treasury advice on negative gearing, says Jim Chalmers after the PM denied the government had plans to reform the scheme.

AAP

Community tensions boil after Hezbollah flag display

The flaunting of Hezbollah flags and pictures of the terror group's slain leader at a protest has inflamed community tensions following mass protests.

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