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The Latest Breaking News from Jim Chalmers

Michael Pascoe: Morrison heeded the Tooth Fairy when Treasury warned against tax cuts

In 2018, when Scott Morrison announced his tax-cut package, Treasury laid out in black and white the grounds for scrapping Stage Three

The New Daily

Anthony Albanese leaves open possibility of changes to stage-three tax cuts

Prime minister says government ‘hasn’t changed our position’ but does not rule out doing so in future

The Guardian - AU

One-quarter of homeowners could be spending 30% of their income on loans by late-2023, RBA says

Reserve Bank warns households with high debt relative to income are ‘particularly vulnerable to shocks’

The Guardian - AU

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Flood warnings for eastern states as Melbourne receives half a month’s rainfall in one hour – as it happened

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The Guardian - AU

Budget will balance inflation, rates: PM

The federal government has not changed its position on tax cuts legislated for 2024, the prime minister says as pressure mounts to rule out scrapping them.

AAP

Grattan on Friday: Jim Chalmers plays the tease as he pushes to change Stage 3 tax cuts

When Scott Morrison was treasurer he flew the kite for an increase in the GST. The debate ran a while, before then prime minister Malcolm Turnbull shut it down. It was all too hard.

The Conversation

Stage-three tax cuts in the spotlight as global gloom weighs on federal budget

Amid warnings global monetary tightening might give way to worse, Treasurer Jim Chalmers says the upcoming budget will not be immune.

The New Daily

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Teen charged with attempting to blackmail Optus customers using stolen data

The 19-year-old Sydney man allegedly sent SMS messages demanding $2,000 to 93 customers whose data had been released online after Optus breach

The Guardian - AU

Labor attacked by former RBA governor Bernie Fraser for sticking to ‘dodgy’ stage-three tax cuts

Fraser says Albanese government should repeal stage three as the tax cuts are ‘even more unfair’ due to falling real wages

The Guardian - AU

Australia unveils privacy rule changes after Optus data breach

Australia on Thursday proposed an overhaul of consumer privacy rules that will help facilitate targeted data sharing between telecommunication firms and banks following a massive data breach at Optus, the country's second largest mobile operator.

Reuters

Government announces law changes in response to Optus data breach

The federal government has announced its response to record Optus data breach, with changes to the telecommunications laws.

The New Daily

Government strengthens powers for telcos to share affected data following Optus hack

Optus will be able to share drivers licences, Medicare and passport numbers with banks and government agencies to assist in fraud detection following a data breach that affected almost 10 million current and former customers.

ABC News

Jim Chalmers has a unique chance to remake Australia – or to squander $243bn on the rich

Australia is one of the richest countries in the world but decades of tax cuts have trained us to feel poor

The Guardian - AU

Former ACCC boss Rod Sims calls for tax increases amid debate over stage 3 cuts

The former chair of the ACCC says taxes must rise if the federal government wants to deliver the essential services Australians demand.

ABC News

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The Guardian - AU

Liberal moderate Bridget Archer says Labor right to be questioning stage-three tax cuts

Archer tells Albanese government ‘it’s OK to change your mind’ as debate continues within ALP about future of Coalition tax package

The New Daily

Stage-three tax cuts: What makes them so controversial?

Stage three tax cuts will kick in during 2024 and on net it will benefit people who earn over $180,000, or the top 3.7 per cent.

The Guardian - AU

Reserve Bank’s dovish interest rate rise gives Jim Chalmers more cause to grin than grimace

The treasurer was used to empathising with borrowers after the RBA’s ‘supersized’ rises – instead, he got to talk about the budget

The New Daily

Treasurer pleads caution on tax cuts as calls to ditch them grow louder

With deteriorating global economic conditions and no prospect of remission inflation, the Treasurer promised a “sustainable” budget.

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The Independent UK

Australian central bank lifts cash rate to 9-year high 2.6%

Australia’s central bank has boosted its benchmark interest rate for a sixth consecutive month to a nine-year high of 2.6%

The Canberra Times

Rate pain will add more scrutiny to Labor's economic management

The sixth consecutive rate rise may impinge on Labor's budget plans.

The Guardian - AU

Jim Chalmers says he will make the ‘right decisions’ on stage-three tax cuts

Treasurer says while the government’s policy has not yet changed ‘any responsible government’ would be looking at global economic pressures

The Guardian - AU

Banks raise interest rates in response to RBA – as it happened

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The New Daily

Paul Bongiorno: Time overdue for a conversation about our welfare state

The penny is dropping even in the citadels of western capitalism that trickle-down economics is no longer fit for purpose – if it ever was.

AAP

Multinational tax reform gets under way

The Albanese government has opened consultations on international corporate tax reforms to close tax loopholes exploited by multinationals.

The Guardian - AU

A shift on stage-three tax cuts would move the first Albanese budget from B for boring to B for big

Labor understands any broken promise will be weaponised by its political foes. But an economic storm is brewing and it’s time to change tack

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