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The Latest Breaking News from Jim Chalmers

Labor under renewed pressure to axe stage-three tax cuts as Australia’s budget woes mount

The party voted in support of tax cuts while in opposition and went to the election promising no changes to the policy

The Guardian - AU

Economy at risk from China's COVID wave

The treasurer says China's COVID-19 outbreak will weigh on Australian businesses, which rely on the country's customers and suppliers.

AAP

The Albanese government has had a solid start. Now comes the hard part

Labor has grown in popularity since its election in May, and ticked off a number of campaign promises. But harder decisions await in 2023

The Guardian - AU

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Australia’s fertility rate rebounds to pre-Covid levels but Jim Chalmers issues warning on ageing population

Federal government’s population statement forecasts births for 2021-22 will be 1.66 babies per woman

The Guardian - AU

Scott Morrison swept away by political tide as Anthony Albanese fights to fireproof 2023

Labor has enjoyed a honeymoon period with voters after their brutal rejection of Morrison’s government

The Guardian - AU

Australia's 2023 economic outlook unclear

There are a range of unknowns hanging over Australia's economic fortunes in 2023 but most agree a recession is unlikely.

AAP

Broken promises can be toxic for governments, so axing the stage-three tax cuts could be right but risky

It’s going to be a tough call – one of many that await the Labor government in 2023

The Guardian - AU

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Threat of energy price cap already working

Energy markets are responding pre-emptively to the federal government's price cap, demonstrating it's already having a dampening effect on prices.

AAP

Government imposes one-year price cap on gas, but Australians still face hundreds in energy bill rises

An extraordinary move to temporarily cap gas prices will slow runaway electricity costs, but Australians should still expect to see their bills increase next year.

ABC News

Power relief plan heads to the Senate

An energy relief package for households and businesses is nearing completion after clearing a major parliamentary hurdle, despite opposition from the coalition.

AAP

Facing a cold northern winter, Japan watches Australia's energy market intervention closely

The Japanese government adds its voice to the debate about plans for coal and gas price caps amid concerns about energy security at home.

ABC News

Energy users and ex-ACCC boss praise government for staring down ‘bullies of the gas industry’

Industry argues capping gas at $12 a gigajoule risks future investment but experts say price is top end of range forecast before invasion of Ukraine

The Guardian - AU

Businesses forced to show emissions action

The treasurer says Australia could miss out if it doesn't act fast to improve the conditions for environmentally-conscious investors.

AAP

Albanese government looking at laws to force big business to disclose climate efforts

Jim Chalmers will say global investors increasingly see ‘a new harmony between profit and planet’

The Guardian - AU

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The New Daily

Cap on coal and gas prices key to Anthony Albanese’s plan to reduce electricity bills

Federal, state and territory governments will provide up to $3 billion in electricity bill relief to households and small businesses.

The Conversation

Power package: $3 billion for 'targeted and temporary' relief on bills

The federal government will provide up to $1.5 billion – to be matched by states and territories – for “targeted and temporary” relief on power bills for low and middle income households and small businesses.

The Guardian - AU

Reserve Bank review ‘will be relevant’ to Philip Lowe’s chances of a second term, Chalmers says

Treasurer says it is not a ‘performance review’ but will ‘feed into our thinking’ about RBA leadership

The New Daily

Pleasing none, Albanese presents consensus position on rising power bills; gets tentative tick

Anthony Albanese has ultimately stepped in for the consumer on energy, but limited the fallout to industry.

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The Guardian - AU

Chinese ambassador hails ‘very successful’ meeting – as it happened

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AAP

States asked to step up on power prices

Treasurer Jim Chalmers says he believes the states and territories will be able to agree to measures to lower power prices.

The Guardian - AU

Federal Labor prepared to compensate states in effort to drive down energy bills

Commonwealth to compensate states for imposing cap on coal prices, treasurer says, meaning bill relief for Australian households in first half of 2023

The Guardian - AU

Afternoon Update: RBA rate hike; Kirstie Alley dies; and a heatwave for northern Australia

Central bank warns of more rises to come after raising cash rate to 3.1%

AAP

Treasurer capitalises on top credit rating

Australia has maintained its AAA credit rating by Fitch Ratings, which noted the government's decision to show spending restraint in it's first budget.

AAP

Chalmers hopeful of Russian oil cap impact

The G7 and Australia have agreed to a $US60 a barrel cap on Russian oil, following the European Union's decision on the same move.

Reuters

Australia to become 'more assertive' on foreign investment in critical minerals

Top lithium supplier Australia is set to become more selective about who it lets invest in its growing critical minerals industry, Treasurer Jim Chalmers said on Friday.

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