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The Latest Breaking News from Jim Chalmers

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

The Guardian - AU

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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.

AAP

Passengers treated after ‘technical problem’ – as it happened

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The Guardian - AU

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

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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

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

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

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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.

The Guardian - AU

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

AAP

Australia, NZ hold trans-Tasman treasurer talks

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

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The Guardian - AU

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

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

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

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