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The Latest Breaking News from Jim Chalmers

Australia's growth downgraded and inflation drives massive rise in cost of pensions and payments in budget

Tuesday’s budget will point to a slowing Australian economy, with growth forecasts cut, and contain more than $21 billion of savings and decisions to redirect spending.

The Conversation

Budget to reveal $20 billion in savings, with Coalition grants in the firing line

The government's budget will bring the axe down on billions in Coalition grants as part of a broader $21 billion savings drive.

The New Daily

Australia will join Biden’s global pledge to cut methane emissions by 30% by 2030, Albanese confirms

Funding of more than $3bn will support agricultural methane reduction, clean tech initiatives and the commercialisation of seaweed feed supplement

The Guardian - AU

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Welfare payments to add $33b to budget

Bi-annual adjustments to welfare payments in line with inflation are adding billions to budget spending, the treasurer says.

AAP

Treasurer Jim Chalmers reveals workers' pay will go backwards until 2024-25 ahead of federal budget announcement

Treasurer Jim Chalmers reveals workers' pay will effectively go backwards until 2024-25.

ABC News

SES urges residents of several NSW areas to evacuate – as it happened

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The Guardian - AU

New Zealand has a wellbeing budget and the man behind it says it proves budgets aren't all about finance

When Grant Robertson meets his counterparts at global events, he's regularly asked about wellbeing — not his own, but that of his entire country.

ABC News

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Gloomy backdrop for first Albanese budget

The Labor government is handing down its first budget at a time of economic turbulence. Here's why that matters.

AAP

As Jim Chalmers prepares for the challenges ahead, these loyalties will help sustain him

Behind the doctorate, drive and disarming drawl of Jim Chalmers lies a treasure chest of friendships, David Fagan writes.

The New Daily

Australia and Japan sign new security deal; flood waters peaking in northern Victoria – as it happened

Volunteers place 195,000 sandbags in and around Echuca, which could reach devastating 1993 flood levels. This blog is now closed

The Guardian - AU

Federal budget: no tax break for low- and middle-income workers as economic outlook worsens

Inflation set to peak higher than expected so workers earning less than $126,000 will not get a tax break, worth up to $1,500, beyond 2022

The Guardian - AU

Chalmers offensive: crunch time as treasurer faces first federal budget

A volatile global economy looms as Jim Chalmers assembles the Albanese government’s inaugural budget, where he will be judged on delivering on election promises while exercising restraint

The Guardian - AU

Treasurer prepares 'sensible' first budget

With the global economy stalling and huge pressure to spend more on health and aged care, the first Labor budget in almost a decade has a lot riding on it.

AAP

The man behind Labor's first budget

The treasurer with working class roots is aiming to deliver a "responsible" first budget without leaving the vulnerable behind.

AAP

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The Conversation

Floods drive up fruit and veg prices, while energy costs will prolong high inflation

Fruit and vegetable prices are expected to be 8% higher than they would have been over the December and March quarters as a result of the floods, according to budget figures released by Treasurer Jim Chalmers.

The New Daily

What we know about the ‘bread and butter’ budget from Jim Chalmers

Labor’s first federal budget in more than a decade is now just days away, with Treasurer Jim Chalmers set to deliver “bread and butter”.

ABC News

Widespread floods will force inflation above 8 per cent for fruit and vegetables, treasurer says

Federal Treasurer Jim Chalmers says widespread flooding across some of Australia's most productive agricultural land will push up the prices of fresh produce.

Reuters

Australia floods to dent Dec-qtr GDP, spur inflation - Treasurer

Widespread floods that have inundated large parts of Australia's southeast will dent the country's economic growth and increase inflation, Treasurer Jim Chalmers said on Friday, ahead of next week's federal budget.

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Reuters

Australia aims for 'responsible' budget after UK mayhem

Australia's Labor government will launch its first budget next week with warnings about global recession and tough spending choices at home, while still meeting the modest promises made to win election earlier this year.

The New Daily

Jim Chalmers is ignoring his own warnings of a possible recession

The Treasurer appears to be ignoring his own warnings ahead of the federal budget about the need to be prepared for a global recession.

The Conversation

Grattan on Friday: Politics of future budgets likely to get harder for Albanese government

When Kevin Rudd made Bill Shorten parliamentary secretary for disabilities in 2007, the post was a good deal less than the high-profile new MP’s ambition for a ministry.

The Guardian - AU

The Coalition scoffed at the idea of a wellbeing budget. But Australians want Jim Chalmers to deliver

The approach labelled ‘hippy economics’ is one that experts and the public are crying out for

ABC News

Forecast cost for stage 3 tax cuts rises by $11 billion

Treasurer Jim Chalmers says the forecast cost of the stage 3 tax cuts has risen and will now cost the nation around $254 billion over 10 years.

The Conversation

Our environmental responses are often piecemeal and ineffective. Next week's wellbeing budget is a chance to act

Treasurer Jim Chalmers’ federal budget next week will for the first time include a section on wellbeing, which aims to measure how well Australians are doing in life.

AAP

Tax cuts to cost $11b more than estimate

The federal treasurer says the controversial stage three tax cuts will cost billions more than previously thought as the government faces calls to scrap them.

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