The Latest Breaking News from Jim Chalmers

Labor’s Treasury spokesman Jim Chalmers’ Twitter gaffe wouldn’t instill a lot of confidence but Clive Palmer’s longest ad in the history of the world would destroy it. There’s more too from the Crikey bunker.

Good morning, early birds. Australia will build hypersonic missiles that travel more than five times the speed of sound, and opposition treasury spokesperson Jim Chalmers has said “this reckless rorting and wasteful spending must stop”. It’s the news you need to know, with Emma Elsworthy.

Shadow treasurer says a Labor government would ‘reorient’ budget as RBA warns of mounting fuel and commodity prices

Half of voters say budget designed to win election as Labor takes 11-point lead on economic management

Shadow treasurer Jim Chalmers says the budget a Labor government would inherit would not provide scope for surpluses any time soon.

Shadow treasurer moves to make Labor policy crystal clear after Coalition seizes on ambiguity in Anthony Albanese’s comments

The prime minister has repeatedly denied claims he made a racist comment against pre-selection opponent in 2007 but Labor says nobody believes him.

Scott Morrison was in Tasmania just days out from firing the starting gun for the May election, while Anthony Albanese held a Labor rally in Brisbane.

On Q+A, independent senator Jacqui Lambie suggests outgoing Liberal senator Concetta Fierravanti-Wells has been unfairly ousted due to her sex, and backs the claims Senator Fierravanti-Wells made about the Prime Minister's alleged poor character.

Labor leader Anthony Albanese will hand down his budget reply on Thursday night, but the opposition has stressed it won't be an alternative budget.

Labor says the 2022-23 budget is ‘not a plan for Australia’s future’ and promises to focus on health and long-term planning in budget reply