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The Latest Breaking News from Jim Chalmers

Analysis shows federal politicians will pocket more than $18m over 10 years from stage three tax cuts

Parliamentarians, on base salaries of at least $211,250, will receive average cut of $10,000 in first year according to modelling

The Guardian - AU

Reinstating the fuel excise: how much will petrol prices rise and why now?

The excise was halved by the Coalition in March but budgetary pressures mean the new government is sticking with plans to raise it

The Guardian - AU

Put up budget policy or sit down: Labor

Jane Hume has called on the government to focus on cost of living measures leading to Labor accusing the opposition of not offering anything constructive.

AAP

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Final budget outcome for FY22 to improve

The federal government's budget position is likely to dominate financial markets this week, especially if the 2021/22 outcome comes in better than expected.

AAP

Albanese can no longer blame policy delays on the Queen’s death. Next week will be a scramble to deliver on promises

The PM will face strong challenges from the opposition on election pledges – how he performs could determine momentum heading into 2023

The Guardian - AU

Treasurer makes ruling on Perm and Greater merger

Federal Treasury has endorsed the merger of the Greater Bank and Newcastle Permanent Building Society.

Newcastle Herald

Community bank mergers get green light

Treasury has endorsed mergers between Heritage Bank and People's Choice Credit Union, and the Greater Bank and Newcastle Permanent Building Society.

AAP

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Coalition, Labor say low risk of recession

The Labor government and federal opposition believe Australia's economic fundamentals are strong, but there are headwinds coming from overseas.

AAP

Grattan on Friday: Can Jim Chalmers become a reforming treasurer?

Jim Chalmers’ long term ambition is similar to that of most treasurers. He wants to be prime minister. More immediately, he aspires to be a reformer, which has become harder in today’s electorate, with its low tolerance for pain.

The Conversation

Government inquiry as soaring prices put child care out of reach for families

The skyrocketing costs have seen parents increasing having to remove their children from childcare services.

The New Daily

Businesses missed out on fuel tax relief

The temporary fuel excise tax cut provided much-needed relief to households but did less to support businesses, although they pay less tax on fuel anyway.

AAP

The Temporary Fuel Discount Ends Soon You’re Fkn Telling Me These Have Been The Cheap Prices?

Great time to invest in a unicycle.

Pedestrian.tv

Government announces inquiry into childcare costs, while Chalmers promises 'conversation' about budget challenges

The Albanese government will set up an inquiry into the increasing cost of child care, which will start in January and run for a year.

The Conversation

Axe hangs over Morrison’s legacy as government gets serious before budget

Slashing budget deficits have long been cast as a Treasurer’s reason for being. But Jim Chalmers was muted on Tuesday.

The New Daily

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The Guardian - AU

Jim Chalmers announces $50bn improvement in federal budget compared to March projections

Treasurer says improvement comes in large part from higher than expected commodity prices boosting returns from mineral exports

ABC News

End of fuel excise discount shouldn't cause immediate petrol price spike, Treasurer says

The federal Treasurer says petrol prices shouldn't spike when a temporary discount on fuel taxes ends next week.

AAP

Excise cut won't spike fuel price: govt

Treasurer Jim Chalmers has confirmed a temporary fuel excise cut will end next week, but he doesn't expect prices to spike.

AAP

Treasurer reveals $50b budget turnaround

Jim Chalmers has revealed government finances were better than expected for the previous financial year but foreshadowed tough decisions in his first budget.

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The Guardian - AU

Greens urge Labor to redirect fossil fuel subsidies to renewables in budget – as it happened

This blog is now closed

AAP

Australia backs G7 Russian oil price cap

Australia will join the G7 nations and impose a price cap on Russian oil to drive down global oil prices while still putting a dent in Moscow's finances.

The New Daily

Australia joins global effort to starve Russia of war profits with oil price cap

The move comes before a European winter that could be decisive for the war in Ukraine, and soaring international energy prices.

AAP

Australia, Indonesia sign economic pledge

Australia and Indonesia have signed an economic memorandum of understanding amid bleak warnings about a future global recession.

The Canberra Times

Push to erase ACT's historical housing debt gathers strength

The Chief Minister has again promised the millions spent on servicing the decades-old loan would be invested into "much-needed" social and affordable housing in the nation's capital.

The New Daily

Details revealed: RBA review to probe interest rate settings and government’s role

The RBA review will investigate how governments can work with the central bank to manage fallout of soaring inflation rising interest rates.

The Guardian - AU

Australians in ‘acute crisis’ urge PM to ease welfare penalties for working more hours

People on disability pensions say they should be able to work more without having their financial support reduced

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