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The Latest Breaking News from Jim Chalmers

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.

AAP

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

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The Guardian - AU

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.

AAP

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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.

The New Daily

Australia, Indonesia sign economic pledge

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

AAP

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 Canberra Times

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 New Daily

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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

The Guardian - AU

Philip Lowe admits the RBA erred on its rate rise timing – but there were messaging misfires too

Could Australia’s reserve bank have done a much better job of controlling inflationary expectations?

The Guardian - AU

Chalmers to spruik super fund housing plan at treasurers’ meeting

An Albanese Government plan to entice super funds to invest in affordable housing will be the top item for discussion at the meeting of federal and state

The New Daily

Jim Chalmers to sell super funds’ housing plan at treasurers meeting

An Albanese government plan to entice super funds to invest in affordable housing will be the top item for discussion at a federal and state treasurers meeting on Friday.

The New Daily

Hurley appears after grant scrapped

The federal government has scrapped a controversial $18 million grant allocated to a foundation with links to Governor-General David Hurley.

AAP

Govt Warns Not To Expect Much Cost Of Living Help In Oct Budget So I Guess We’re On Our Own

If you’re expecting cost of living relief in the next Federal Budget, I’m sorry to say you may be disappointed. Prime Minister Anthony Albanese and Treasurer Jim Chalmers have warned offering such help can sometimes be ‘counter-productive’ so I guess it’s everyone for themselves!!!!!“I want to level with people … You want to…

Pedestrian.tv

Lidia Thorpe criticises Indigenous voice working group – as it happened

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The Guardian - AU

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The New Daily

Senate set for fresh climate clash as Greens threaten proposed EV incentives

The government hailed Thursday’s expected passage of its emissions targets as a chance to end the climate wars, but another fight looms its EV incentives.

ABC News

Albanese government's electric vehicle policy faces bumpy road through parliament

The Coalition, Greens and some members of the crossbench urge the government to change plans to reduce the cost of low-emissions vehicles.

The Guardian - AU

Albanese warns of tough budget as Coalition promises ‘hand-to-hand combat’ over cost of living

Labor to introduce legislation to fulfil an election pledge to lower the price of medicines

The Independent UK

Australia central bank lifts cash rate to 2.35% in 5th hike

Australia’s central bank has boosted its benchmark interest rate for a fifth consecutive month to a seven-year high of 2.35%

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AAP

RBA flags end of big-hit cash rate rises

The Reserve Bank of Australia board has lifted rates again, with economists expecting more moderate rate hikes to follow.

ABC News

Competition watchdog ordered to monitor fuel retailers ahead of return to full fuel excise

As the end of a temporary halving of Australia's fuel excise draws near, the ACCC is ordered to watch for fuel retailers seeking to take advantage of the hike.

ABC News

Industrial relations reform and climate policy to dominate debate as federal parliament returns for latest sitting

The government hopes to introduce industrial relations reform before the end of the year as debate looks set to dominate parliament in its latest sitting.

AAP

Petrol price rises to further hit budgets

Regulators will watch for abnormal price hikes as motorists prepare to pay an extra 25c per litre for fuel when the excise returns to full later this month.

The Guardian - AU

Consumer watchdog will crack down on petrol price gouging when tax cut ends, Labor says

Federal government also confirms pension and jobseeker will rise 4% in line with consumer price index, as parliament returns

ABC News

Welfare recipients set to receive largest indexation increase in three decades amid soaring cost of living

The government says it's the largest indexation increase to payments in more than 30 years for allowances, and 12 years for pensions.

The Guardian - AU

Former Reserve Bank economist suggests Greens push for interest rate freeze is nonsensical

Greens senator Nick McKim says homeowners took on massive debt believing rates wouldn’t rise before 2024 and are now getting ‘smashed’

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