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The Latest Breaking News from Jim Chalmers

Treasurer Chalmers has a $70 billion a year budget hole: we've found 13 ways to fill it

No one likes spending cuts and tax hikes, but on our estimate the government will soon need more of them if they are going to make a dent in looming A$70 billion a year budget deficits.

The Conversation

Treasurer warns vaping is hurting health and the budget

The treasurer says the switch to vaping is leaving a hole in the federal budget, but the "incredibly concerning" health crisis is the main priority.

AAP

Low-income tax offset to wind down as planned

The treasurer has defended the government's decision to push ahead with the phase-out of the tax offset for low- and middle-income earners.

The New Daily

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Treasurer defends phase out of low income tax relief

A tax offset offered to low and middle income earners over the last three years is being axed, with the Albanese government saying it is no longer affordable.

AAP

Jim Chalmers’ next budget: Will it be good for you too?

Jim Chalmers' budget will be shaped by a government that seems to be responding once again to the threat of uncertainty.

The New Daily

State treasurers propose targeting men to work in care sector to boost productivity

Board of treasurers’ submission to employment white paper taskforce suggests making training flexible and promoting regional jobs

The Guardian - AU

Gloomy global economy forecasted ahead of budget

Treasurer Jim Chalmers is warning of economic uncertainty with spiking global inflation and interest rates spurred by war in Ukraine ahead of the May budget.

AAP

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Sure, the RBA froze interest rates this time, but there's plenty of pain to come

Australia’s Reserve Bank has hit pause on interest rates after ten successive hikes, but for many Australians, the pain it has inflicted is about to begin.

The Conversation

‘Relief’ for home owners as RBA pauses rates for first time in 10 meetings

The Reserve Bank has hit the pause button on its record breaking run of interest rates hikes in April, delivering relief to home owners.

The New Daily

Super tax break reform could boost budget: report

A new report by the Grattan Institute says there is plenty of scope to overhaul superannuation tax concessions in the federal budget.

AAP

‘Once-in-a-generation opportunity’: why the RBA is under review – and what happens next?

Explainer: Report’s recommendations on the central bank are due out this month. Here’s what you need to know

The Guardian - AU

Pauline Hanson says Labor broke an 'election promise' on migration. Did it even exist?

Pauline Hanson says Labor broke an election promise by increasing migration. But Labor never made any promises about migration levels.

ABC News

May budget ‘needs to strike right balance’

Treasurer Jim Chalmers has set the parameters for his 2022/23 budget, laying out eight key priorities for the near and longer term.

The New Daily

Expert warns of growing tax burden ahead of budget

Former Treasury boss Ken Henry warns inadequate tax settings are worsening intergenerational inequality as the treasurer prepares for his second budget.

AAP

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The Guardian - AU

Morning Mail: Putin cyberwarfare plans exposed, debate over minimum wage, Aston to test Dutton

Secret documents leaked by a whistleblower angry about the Ukraine war reveal military’s tactics and mindset

The Guardian - AU

Australian employers say ‘excessive’ minimum wage rise in line with inflation could lead to recession

Claim comes as Albanese government argues Fair Work Commission should ‘ensure the real wages of Australia’s low-paid workers do not go backwards’

The Conversation

Grattan on Friday: We need more tax revenue, but don't ask the major parties how we'll get it

Teal candidates again fell short in the NSW election. Only one who was so labelled was successful, and she rejects the terminology. This followed the Victorian state election in which no teal won.

AAP

Regional road funding in focus ahead of federal budget

As Treasurer Jim Chalmers gears up for his second budget in May, the federal opposition wants to ensure roads and regional communities are prioritised.

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ABC News

Treasurer Jim Chalmers backs lift in pay rates ahead of minimum wage review, as unions push for pay rise to match inflation

Treasurer Jim Chalmers says a coming minimum wage review should not allow the lowest-paid workers to fall further behind, saying minimum wage earners are not driving inflation.

The New Daily

Legislative changes could be coming to RBA: Treasurer

The Reserve Bank could be facing legislative changes under a review, due to be handed to Treasurer Jim Chalmers on Friday.

ABC News

The Reserve Bank doesn't need an overhaul, Australia needs fairer policies, says former governor

Former governor Bernie Fraser says the Reserve Bank of Australia's attempt to improve the welfare of all Australians has been undermined by decades of neoliberalism.

AAP

ACTU pushing for 7 pct rise to minimum and award wages

More than two million workers on minimum and award wages should get a seven per cent pay rise to keep up with the rising cost of living, the ACTU argues.

Newcastle Herald

Government and nation can't afford to avoid productive debate on economic reform

A more impoverished Australia looms as our productivity plunge continues

AAP

Government to dig deep to keep unfunded programs afloat

The federal opposition left behind a range of unfunded "zombie measures" that will pile more pressure on already-stretched finances, the treasurer says.

The New Daily

Intensive monitoring backs local banks to ride out global market ructions

Financial regulators confirm the resilience of Australia's banking system following rigorous oversight during the past fortnight.

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