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The Latest Breaking News from Steven Kennedy

Treasury boss coy on future direction of PwC action

The head of Treasury has told a Senate estimates hearing he cannot comment in detail on action being taken against PwC because it may impact on a police probe.

The New Daily

Australia refers PwC tax document leak scandal to police

The Australian Treasury has referred a confidential document leak scandal involving professional services firm PricewaterhouseCoopers (PwC) to police, Secretary to the Treasury Steven Kennedy said on Wednesday.

Reuters

Will Jim Chalmers' budget drive up inflation? Not likely – and here's why

The proposition that cutting prices will stoke inflation is a hard one to get your head around, even if you are an economist.

The Conversation

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Angus Taylor signals Coalition may reject Labor changes to petroleum resource rent tax

Move may mean government must deal with Greens to pass PRRT reforms as shadow treasurer warns against gas industry’s ‘death by a thousand cuts’

The Guardian - AU

More light and less heat would be appreciated at Philip Lowe’s next grilling on Friday

Lost in the questioning from hostile senators was much insight into why the Reserve Bank wants to keep raising rates

The Guardian - AU

New off-budget funds won't fuel inflation: Treasury

The Treasury secretary has defended Labor's housing and infrastructure funds and says they won't necessarily fuel the short-term inflation problem.

AAP

To start cutting gas and electricity prices, here's what the government looks likely to deliver by Christmas

Treasurer Jim Chalmers says he’ll have a system in place to deal with rising energy prices by Christmas.

The Conversation

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Nearly 90% of Australians want government to step in on energy costs, poll finds

Survey shows strong support for lowering prices by limiting exports and imposing windfall profits tax on gas companies

The Guardian - AU

Treasury calls for action on sky-high prices, as blowback comes from gas companies

Gas exporters have signalled their intent to make sure any government regulation on gas prices is watered down.

The New Daily

Treasury backs energy market intervention

A senior bureaucrat says there's a strong case for intervening in the energy market as the war in Ukraine has caused prices to reach unprecedented highs.

AAP

Energy boom behind major profits: Treasury

Treasury officials have been grilled about the drivers behind inflation and confirmed external supply side shocks as the chief cause.

AAP

New images show what it will be like to sit and watch a show at Bristol's arena

More details have been revealed about the long-awaited arena

Bristol Post

Michael Pascoe: Australian official briefed foreign power against RBA

While all eyes were on the Reserve Bank on Tuesday, an extraordinary story in the weekend press seems to have slipped by without notice.

The New Daily

Treasury staff given small gifts of textbooks, macarons and champagne, documents reveal

A list of gifts received by federal Treasury staff show you don't go into public service to be lavished with exciting presents and riches.

ABC News

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The Conversation

Grattan on Friday: If the Albanese government did what really needs to be done, it would be a very big target

Usually the speeches of treasury secretaries are relatively bland, echoes of their political masters. But an address this week from Steven Kennedy was something quite different.

ABC News

OECD slashes global growth forecasts, urges Australia to keep shifting to renewable energy as Ukraine war continues

The OECD says the war in Ukraine is a humanitarian disaster, and the economic shock will make inflation higher and more persistent

AAP

RBA's Lowe warns higher inflation ahead

Reserve Bank governor Philip Lowe has warned higher rates of inflation are ahead, signally he will be keeping watch on data results in coming months.

AAP

RBA, consumers to give views on budget

The Reserve Bank will give its views on the budget when its board meets this week, as will consumers in the latest weekly confidence survey.

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AAP

Inflation rise in June quarter: Treasury

A Senate estimates hearing has been told higher global oil prices and supply-chain pressures are contributing to growing inflation.

ABC News

Treasury says nation could soon enjoy a wages boom — they just don't know when

The federal Treasury boss admits he does not know when Australia might enjoy wages growth – but says the country is the closest it has been in more than a decade.

AAP

Budget cuts could risk recovery: Treasury

Treasury secretary Steven Kennedy says the Australian economy has proved resilient in the face of disruptions caused by the COVID-19 Omicron variant.

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