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The Latest Breaking News from Jim Chalmers

Official inflation figures show inflation hitting 7.8 per cent as cost-of-living pressures continue to weigh on household budgets.

AAP

Recession fears if interest rates hiked

Deloitte Access Economics warns Australia could fall into a recession if the central bank lifts interest rates again, with households already hurting.

AAP

Canberra to work closely with new NZ PM

Australia and New Zealand will continue to build on their relationship once new Kiwi prime minister Chris Hipkins is officially sworn in.

AAP

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Treasurer hopes worst of inflation is over

Treasurer Jim Chalmers has flagged further cost-of-living relief for Australian households struggling to cope with soaring prices.

AAP

Australia is banking on China’s economy to take off but headwinds are looming

The Albanese government is wary of Chinese economic volatility amid a slumping property sector and shrinking population

The Guardian - AU

Power price spike to be less than expected

Treasury forecasts indicate wholesale electricity prices won't rise as high as earlier predicted after the government imposed a gas price cap.

AAP

Australians to save $230 on electricity bills next financial year as wholesale prices fall

Treasurer Jim Chalmers says the saving is a sign the government’s plan to cap prices is ‘starting to make a difference’.

The Guardian - AU

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Calls for JobSeeker rise in May budget

Pressure is growing on the government to lift income support payments for job seekers in the May budget as living costs soar.

AAP

Alarm grows over Aussie's death sentence

Sydney man Majid Kazemi has been sentenced to death after the Iranian regime accused him of being involved in the deaths of government militia members.

AAP

Gas companies needed 'rules of the game'

The gas industry has defended decisions to pause new gas contract negotiations amid uncertainty about the federal government's energy price relief plan.

AAP

China a 'big story' for Australia's growth

Treasurer Jim Chalmers remains upbeat about Australia's resilience in the face of economic headwinds and some domestic challenges.

AAP

Australia on track for 2023 migration boom as arrivals dwarf Treasury forecasts, ex-official says

Former immigration department deputy believes government has ‘significantly underestimated’ net migration

The Guardian - AU

Australia's natural disasters bill hits $3.5 billion in 2022, billions more to come

Floods and natural disasters that hit all but one Australian state and territory in 2022 cost the economy A$5 billion ($3.48 billion) and stoked inflation according to Treasury estimates which forecast billions more spending in 2023.

Reuters

Treasurer defends PM meeting with tycoon

Prime Minister Anthony Albanese's meeting with transport industry leader Lindsay Fox was entirely appropriate, Treasurer Jim Chalmers says.

AAP

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ABC News

East coast flooding saw majority of Australians covered by natural disaster declaration in 2022

New data shows the majority of Australians lived in a local government area that was affected by serious natural disasters in 2022, mostly as a result of widespread flooding across the east coast.

AAP

Floods to wreak further havoc on economy

Natural disasters caused billions in damage to the Australian economy in 2022 and the bill is expected to rise from further floods.

AAP

Next mining boom to lift up disadvantaged

Australia's rich critical mineral and clean energy resources could be harnessed to drive economic prosperity as seen in the mid-2010s mining boom.

AAP

ACCC probe to ensure savers get fair deal

The treasurer has asked the consumer watchdog to investigate why interest rate increases on deposit products are often lower, slower or conditional.

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AAP

More cost-of-living relief on the cards

Treasurer Jim Chalmers will consider cost-of-living relief measures in the May budget as long as they won't break the bank.

The Independent UK

Australian charged over travel to IS territory freed on bail

An Australian woman charged with willingly entering part of Syria that was under control of the Islamic State group has been freed on bail as a debate raged about the risk to the community

AAP

Aged care sector a 'mess' as losses mount

An accountancy firm has found seven out of 10 aged care centres ran at a loss over three months in 2022, as the federal government admits the sector is a mess.

AAP

Rebound in migration figures 'optimistic'

The Australian government expects migration numbers to bounce back but troubling economic conditions and other uncertainties could weigh on migration.

The New Daily

Australian population trailing due to pandemic, experts warn on future

Australia’s population will be four per cent or 1.2 million people smaller and older on average than predicted at the end of the decade due to the COVID pandemic's effect on immigration and birth rates.

ABC News

Government dismisses China's retaliation threats over mandatory COVID-19 testing

From Thursday, travellers from China will be forced to take a pre-departure COVID-19 test before making the journey to Australia — a move that has sparked anger from Beijing.

The Times of India

Covid curbs: US says no cause for China retaliation

WASHINGTON: The White House said there’s no reason Beijing should retaliate against the US and other nations that have imposed Covid restrictions on its travelers, saying the moves were justified on public health grounds as China experiences a surge in cases.

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