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The Latest Breaking News from Jim Chalmers

Slowing economy can't be ignored in budget: Chalmers

The treasurer says the upcoming federal budget will be a balancing act between fighting inflation and addressing a slowing economy.

AAP

GDP figures show Australia’s economy grew by just 0.2% in the December quarter

Treasurer Jim Chalmers had been preparing the public for ‘quite weak’ economic growth at the end of 2023 as interest rate rises hit home

The Guardian - AU

Australia to launch $2bn fund to ‘turbocharge’ trade with south-east Asia

Anthony Albanese plans to boost clean energy and infrastructure exports, and increase visas for travellers from the region

The Guardian - AU

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Growth report likely to show households in pain

Households have been pinching their pennies as financial pressures intensify and that weakness is likely to show up in a soft economic growth print.

AAP

Coalition expects Labor to hold seat in by-election

Peter Dutton says he expects a swing away from Labor in the Dunkley by-election, but it's a "tough ask" for the Liberal Party to wrest the seat away.

AAP

Janet Rice defends ‘deliberate’ and ‘powerful’ Marcos Jr protest after Senate censure motion – as it happened

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The Guardian - AU

Australia not 'complacent' on expected weak growth

Treasurer Jim Chalmers says Australia is not immune nor complacent in the face of economic challenges though a soft landing is still anticipated.

AAP

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Jim Chalmers to push for incentives for sustainable mining amid concerns over Australian nickel

Speaking at the G20 in Brazil, treasurer will also warn that Australia easing into lower inflation without a recession is ‘not assured’

The Guardian - AU

Treasurer wary of 'evolving' risks ahead of G20 talks

Finance ministers and central bank leaders from around the world will discuss the developing risks to the global economic outlook at G20 talks.

AAP

Tax brawl firms up as parties push for more relief

The coalition has flagged a tax policy that would let people keep more of what they earn if elected as it prepares to support Labor's revamped reforms.

AAP

Greens-Coalition alliance may force Chalmers to keep power to overrule RBA on rates

Chalmers had announced plans to scrap the veto power but former treasurers and RBA governors say it is a vital ‘safety valve’

The Guardian - AU

Former governors and treasurers advise against removing government’s power to overrule RBA

Critics of treasurer Jim Chalmers’ proposed reforms say the Reserve Bank is independent enough

The Guardian - AU

Australia, NZ hold trans-Tasman treasurer talks

Australian Treasurer Jim Chalmers has met with his New Zealand counterpart, Finance Minister Nicola Willis, in Sydney.

AAP

Australia records 4.2% annual wage growth, outstripping inflation for the first time in three years

Treasurer says highest annual growth since 2009 ‘encouraging’ but expresses concern over non-compete clauses for employees

The Guardian - AU

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AAP

Property investors won't lose tax deductions: Treasurer

Treasurer Jim Chalmers says property investors will continue to enjoy their tax breaks, while ruling out the prospect of changes to negative gearing.

AAP

Low income earners to benefit from Medicare levy change

The minimum income threshold at which taxpayers incur a two per cent Medicare levy will be lifted under laws before the federal parliament.

AAP

'We'll see': Albanese throws down gauntlet on tax cuts

Prime Minister Anthony Albanese is putting pressure on the coalition to back Labor's stage 3 tax cut changes, as federal parliament returns for the new year.

The Guardian - AU

Afternoon Update: expert finds no evidence of ‘gas the Jews’ chant at rally; two killed by Sydney freight train; and Amazon profits surge

Examination finds with ‘overwhelming certainty’ that the words used at march near Sydney Opera House were ‘where’s the Jews?’, police say

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AAP

Dutton signals support for Labor's changes to tax cuts

Australians in need of greater assistance are soon expected to get some relief, with signs the coalition is unlikely to oppose reworked tax cuts.

The Guardian - AU

Jim Chalmers hints Labor will never abolish 37% tax bracket as planned under stage-three cuts

The treasurer indicates the government is unlikely to revive the Coalition’s plan even when economic circumstances improve

AAP

Tax talk turns negative as Labor gears for relief

Changes to tax cuts that increase the returns of lower to middle-income earners have spurred speculation about whether negative gearing changes are next.

The Guardian - AU

Morning Mail: Jim Chalmers fires tax salvo, Georgie Purcell speaks out, Mark Zuckerberg’s apology

Treasurer say Coalition idea would ‘smash the budget’ with $40bn hit; Victorian MP vows to ‘keep fighting’ for women and animal rights

AAP

Prices ease but insurance and housing are still biting

Consumer price growth is coming off the boil but some key essential goods and services are still painfully elevated.

The Guardian - AU

Jim Chalmers warns restoring tax cuts to high earners would ‘smash’ budget by almost $40bn

Treasurer’s data estimates reimposing old stage-three cuts while retaining Labor’s plan for low and middle earners would cost $39bn over four years

The Guardian - AU

David Littleproud accuses Labor of ‘class warfare’ over stage-three tax changes, saying $190,000 is ‘not a lot’

Nationals leader says tax cuts were about ‘giving everyone a fair go’ and Labor is ‘pitting one Australian against the other’

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