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The Latest Breaking News from Jim Chalmers

Treasurer Jim Chalmers is heading to Washington to take the temperature of the global economy before handing down his first budget.

AAP

Stage-three tax cuts spark bigger question about trust in government

Treasurer Jim Chalmers is bracing for grim news this week in Washington DC from the world’s pre-eminent financial movers and shakers.

The New Daily

Defence projects suffer $6.5bn cost blowout as Marles promises more scrutiny in future

Minister takes aim at Coalition’s handling of defence projects, saying money was ‘flushed down the toilet’

The Guardian - AU

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Albanese insists tax position 'hasn't changed', as the government targets defence delays

Anthony Albanese on Sunday insisted the government’s intention to deliver the Stage 3 tax cuts has not changed, while he reinforced the expectation of deep spending cuts in this month’s budget to attack “waste”.

The Conversation

Stage-three tax cuts: what are they, how do they work and why do they exist?

They’re the biggest debating point ahead of the Labor government’s October budget, but what actually are the stage-three tax cuts?

The Guardian - AU

Growing number of Australians want the stage-three tax cuts scrapped, poll shows

Public opinion for repealing the package now sits at 48% as people become better informed about the consequences

The Guardian - AU

Wedged between the CPAC circus and the teals, will Peter Dutton wither or find a new way to live?

Could the Liberal party be co-opted by the rightwing fringe? It is structurally and institutionally weak after the May election loss

The Guardian - AU

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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

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

Follow latest updates

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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The Guardian - AU

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

Reuters

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.

The New Daily

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.

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ABC News

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.

The Guardian - AU

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

ABC News

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.

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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