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The Latest Breaking News from Jim Chalmers

The Reserve Bank will face a major review. Here’s what that means

Australia’s inflation target and why the Reserve Bank has failed to achieve it will be probed in the biggest review of the central bank in decades.

The New Daily

‘Right policy choice’: RBA boss Philip Lowe defends COVID response as inflation anger grows

Reserve Bank governor Philip Lowe has defended his COVID response, saying that pinning interest rates to the floor in 2020 was the “right policy choice”.

The New Daily

Mask mandates ruled out as nation records 90 Covid deaths – as it happened

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The Guardian - AU

From analysis to the latest developments in health,
read the most diverse news in one place.

Chalmers looks for confidence in RBA

Treasurer Jim Chalmers has flagged changes to the RBA's board with a new review by an independent panel for the first time since the 1980s.

AAP

Reserve Bank review will scrutinise who sits on the board and whether their views should be more transparent

A Reserve Bank of Australia review is set to examine whether its long-standing inflation target should remain.

ABC News

International expert to review Reserve Bank as deputy governor says households in 'fairly good position' on rate rises

An international expert on monetary policy, Carolyn Wilkins, is one of a three-member panel that will conduct a broad review of the Reserve Bank, including its objectives and the interaction of monetary and fiscal policy.

The Conversation

Nobel Prize winner’s pitch deals with power companies profiting as prices soar

A Nobel Prize-winning economist is calling for a tax on the windfall profits power companies have generated while consumers are hit with surging prices.

The New Daily

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'Wellbeing'. It's why Labor's first budget will have more rigour than any before it

What if the most important thing in Jim Chalmers’ first budget is the thing his critics are writing off as a gimmick?

The Conversation

The Loop: Australia's environment in bad shape, former MPs charged, and a 'universal' COVID vaccine?

Here's your TL;DR for this morning's news.

ABC News

Paul Bongiorno: Albanese discovers the pitfalls of juggling debt and the pandemic

Being in government is always a seat of the pants enterprise no matter that our political leaders try to convince us otherwise.

The New Daily

Nobel prize-winning economist Joseph Stiglitz calls for windfall profits tax in Australia

Tax is a ‘no-brainer’ after companies’ huge profits during Covid but corporate influence makes it ‘politically difficult’, Stiglitz says

The Guardian - AU

View from The Hill: Chalmers warns he'll deliver bad news in parliament's first week

The first week of the new parliament will contain some depressing news, with Treasurer Jim Chalmers on Monday softening up the community to expect a “confronting” statement on the economy.

The Conversation

Federal Treasurer Jim Chalmers backs 'legend' foreign teacher Asako 'Digi' Ono's bid to stay in Australia

Federal Treasurer Jim Chalmers says he is "working around the clock" to prevent the deportation of foreign teacher Asako 'Digi' Ono working in his south- east Queensland electorate.

ABC News

Federal Treasurer Jim Chalmers warns on budget outlook, New Zealand inflation surge hints at even bigger interest rate rises

Fresh inflation figures out of New Zealand sound a warning that the worst of price and rate rises may still be yet to come, says Australia's federal Treasurer as he warns Australians to brace for next week's "confronting" budget update.

ABC News

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The Guardian - AU

Jim Chalmers warns of ‘confronting’ inflation and wages forecast in July economic update

Treasurer says rising interest rates will affect economic growth but Labor has plans to provide cost-of-living support

AAP

Chalmers says debt forecasts 'confronting'

Treasurer Jim Chalmers says the government debt forecast will be "confronting" for Australians as rising interest rates will affect the next budget update.

The Guardian - AU

PM warns against reduced Covid isolation period as nation records 31 deaths – as it happened

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AAP

COVID isolation payment on track to resume

Australian workers unable to go to their jobs due to COVID will be able to claim $750 from Wednesday as isolation payments resume.

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The Canberra Times

Case numbers drop but hospitalisations soar

The ACT recorded 956 new COVID-19 cases in the 24 hours until 8pm Saturday.

ABC News

Federal Treasurer says calls to apologise over pandemic leave payments are 'ridiculous'

Treasurer Jim Chalmers has put his weight behind Prime Minister Anthony Albanese amid mounting criticism over ending pandemic leave payments.

The New Daily

Labor is holding a jobs summit in September. Here’s what it hopes to achieve

The Albanese government has confirmed it will hold a Jobs and Skills Summit on September 1-2 as part of a longer-term plan to deliver a new jobs policy.

AAP

New COVID wave set to peak by month's end

The new COVID-19 wave spreading across the country is set to reach its peak by the end of July, as the government unveils its winter plan for aged care.

The Guardian - AU

Small number of Australian petrol stations investigated for not passing on fuel excise price cut

Consumer watchdog says most locations relayed 20c cut to motorists, while treasurer confirms concession still likely to end on 28 September

ABC News

TikTok admits Australian data can be accessed in China, prompting warnings app may be compromised

TikTok is adamant it would never hand over Australian user data to the Chinese government but, after admissions that data can be accessed in China, federal politicians warn the app could be compromised.

The Conversation

Australia is getting a wellbeing budget: what we can – and can't – learn from New Zealand

Federal Treasurer Jim Chalmers has confirmed Australia will follow Aotearoa New Zealand’s example and put wellbeing at the centre of the national budget.

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