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The Latest Breaking News from Jim Chalmers

Labor to announce in-principle support for RBA review's recommendations, establish two new boards

Treasurer Jim Chalmers is set to release the highly anticipated review into the Reserve Bank of Australia on Thursday and to announce that the government has given in-principle support to all of its recommended changes.

ABC News

Raising dire JobSeeker rates looms as a character test for Albanese government

Government faced with growing warnings that not substantially lifting welfare payments in the budget will be to fail a test of its character.

The New Daily

Boosting JobSeeker is the most effective way to tackle poverty: what the treasurer's committee told him

Federal Treasurer Jim Chalmers and Minister for Social Services Amanda Rishworth established an Economic Inclusion Advisory Committee in December 2022 to advise the government on ways to lift economic inclusion and reduce disadvantage.

The Conversation

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Petroleum tax hike a bandaid budget fix: Woodside boss

Tinkering with the petroleum resource rent tax could cause long-term harm to the gas and oil industries, Woodside chief Meg O'Neill says.

AAP

Govt knocks back its own panel’s call to boost JobSeeker

An Albanese minister has conceded he couldn't live on JobSeeker, even as the govt appears poised to ignore another call to lift the rate.

The New Daily

Jim Chalmers is a man on many missions. Here's what the treasurer's been up to ahead of the budget

Will Treasurer Jim Chalmers be able to please everyone with his May budget? He's certainly trying very hard to cover a lot of economic ground beforehand.

ABC News

Calls to support worst-off Australians surviving on $13 a day

Australian students are trying to scrape by on just $13 a day as welfare payments fail to keep pace with the cost of living, new analysis shows. A report

The New Daily

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Michael Pascoe: The darling buds of May promise the flowering of reforms

There are drums beating in the policy jungle that the first days of May might see Australia commit to taking on necessary economic reform.

The New Daily

Aged care sector warns Albanese government’s planned $4.8bn spend not enough to keep homes open

Growing demand and ageing population expected to drive up costs by 23% in fifth-largest area of government expenditure

The Guardian - AU

Government ignores calls from its own experts to lift ‘seriously inadequate’ jobseeker rate

Unemployment benefit rates are at ‘such an inadequate level that they create a barrier to paid work’, committee finds

The Guardian - AU

Committee tasked with investigating JobSeeker rate urges 'substantial' increase ahead of federal budget

A committee brought together by the federal treasurer to investigate whether income support payments are adequate has called on the government to lift the JobSeeker rate as a first priority, ahead of next month's federal budget.

ABC News

Renewable energy growth must double to meet Australia’s emission goals, Clean Energy Council says

More than 35% of Australia’s electricity last year was supplied by wind and solar, up from just under 17% in 2017

The Guardian - AU

Treasurer calls for bipartisan support on RBA reform

The treasurer wants the opposition and crossbenchers to look "beyond party politics" on upcoming reforms to Australia's central bank.

AAP

Global uncertainty to cast shadow over federal budget

Treasurer Jim Chalmers has warned the upcoming federal budget will come at a time of some of the lowest global growth in decades.

The New Daily

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AAP

Global uncertainty casting a shadow over federal budget

Treasurer Jim Chalmers has warned that the upcoming federal budget is being put together against a backdrop of difficult global economic conditions.

The Guardian - AU

From stage-three tax cuts to welfare relief: what’s on Australia’s 2023 budget wishlist?

Jim Chalmers is under pressure to deliver for those doing it tough – but inflation and national debt pose serious obstacles

The Guardian - AU

Changes to petroleum resource rent tax estimated to net Australian government $94.5bn

Greens to use Parliamentary Budget Office costing to push Labor to clamp down harder on tax concessions for gas producers

AAP

Climate change and health in mix for wellbeing budget

Australia is edging closer to measuring wellbeing as part of its budget process alongside traditional markers of economic health.

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The Conversation

Grattan on Friday: Chalmers grapples with a budget where economics and politics pull in different directions

Last weekend’s report that more than 10 million Australians are facing a large tax rise wasn’t a new revelation.

AAP

Treasurer pours cold water on call to broaden GST

Clamping down on GST-free items or raising the consumption tax entirely are unlikely to feature on the treasurer's tax reform agenda.

ABC News

Australia must navigate 'choppy waters' amid gloomy global economic outlook, says Jim Chalmers

Jim Chalmers says his budget will be built on the expectation that the economy will "slow considerably" but Australia is "better placed than most to deal with this global uncertainty".

The New Daily

Jobless rate to stay low despite looming economic woes

Workers are still in short supply and the labour market is unlikely to reveal signs of loosening as the effects of inflation work through the economy.

The Guardian - AU

The IMF has painted a grim picture of the world economy. What does it mean for Australia?

Australian economists say the IMF outlook supports their case for a soft landing after the rapid rise in interest rates

ABC News

IMF warns Australian housing market at high risk of mortgage defaults ahead of global economic downturn

The International Monetary Fund says Australia has one of the greatest risks of mortgage defaults in the world, as it warns of a significant downturn in global economic growth for the year ahead.

The New Daily

Major tax reform on ‘menu of options’ ahead of budget

Raising the GST, trimming defence spending and reforming tax breaks on super are some of the options the Grattan Institute has suggest to repair the budget.

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