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The Latest Breaking News from Jim Chalmers

More spending and weaker revenue hits budget bottom line in some years: Chalmers

Wednesday’s mid-year budget update will downgrade company tax receipts by $8.5 billion over the four years to 2027-28, and show “slippage’ in the bottom line in some years of the forward estimates, Treasurer Jim Chalmers says.

The Conversation

Jim Chalmers says Coalition’s nuclear plan represents $4tn hit to economy by 2050

Federal treasurer also reveals mid-year budget update out this week will show bigger deficits than May papers

The Guardian - AU

Coalition's nuclear plan would hit economy: Chalmers

The coalition's nuclear energy plan will hit the Australian economy by trillions, the treasurer warns, as Labor defends the action taken to lower power bills.

AAP

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Michele Bullock’s ‘wild ride’ at the RBA could spell trouble for Labor if interest rate cuts aren’t on the way

Growth has slowed but employment is up – could the new year bring mortgage repayment relief?

The Guardian - AU

Lifeline has offered a solemn reality check. Money worries are high – so what will the government do?

The economic picture that emerged this week reflects the pressures many Australians are facing – and the crux of the next election

The Guardian - AU

Grattan on Friday: frustrated government can only bite its tongue as it waits on Michele Bullock

As she reads the economic commentators, Reserve Bank Governor Michele Bullock might, in moments of doubt, wonder whether she’s making a similar misjudgement to her predecessor Philip Lowe.

The Conversation

Economy yet to shake malaise as growth misses forecasts

The Australian economy is growing slowly with government support, with energy rebates effectively transferring household spending to the public purse.

AAP

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Hint of consumer recovery to keep RBA focused on prices

Australia's retail sales enjoyed a boost from an early start to Black Friday discounting and recovering bank balances following tax cuts.

AAP

Australian economy still limping along, data may show

New data is expected to show the national economy continues to be sluggish, in line with Treasurer Jim Chalmers' warning in parliament last month.

AAP

‘Getting things done’ a fitting mantra for the tidal wave of laws the government pushed through in one week

Frustrated that his agenda was stuck in the Senate, the prime minister decided it was time for recalcitrants to be forced to the table – and it worked

The Guardian - AU

Grattan on Friday: Albanese gets down and dirty in deal making and breaking as Senate rushes to Christmas finish

In the chaotic dying days of 2024’s final parliamentary sitting, Prime Minister Anthony Albanese reverted to a role he played in Julia Gillard’s government.

The Conversation

Albanese government plan to raise tax on super balances over $3m all but abandoned

Exclusive: Amid a chaotic end to the parliamentary session, Labor fears a repeat of franking credit policy fiasco that helped cost the 2019 election

The Guardian - AU

Christmas rate cut hopes slayed as inflation holds firm

Energy rebates have lowered Australia's headline inflation rate, but the Reserve Bank remains focused on underlying price pressures.

AAP

'Surprise' budget windfalls drying up, economists warn

Australia's budget fortunes are shifting, with Deloitte Access Economics predicting a deeper deficit than predicted in the May budget.

AAP

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The Conversation

Deloitte predicts December budget update will show bottom line has worsened since May, in fiscal ‘thud’

Next month’s update of the federal budget will forecast a bigger deficit for 2024-25 than was predicted in the May budget, according to the Deloitte Access Economics’ Budget Monitor, released on Tuesday.

AAP

'All about jobs': minister spruiks net zero tax breaks

The Labor government is playing hardball on its production tax incentives, arguing opposing the policy will cost jobs and Australia's global competitiveness.

Top News

Australian Government Rejects Elon Musk's Internet Control Allegation

Australian government dismisses Elon Musk's claims of internet control, focusing on child protection legislation and regulatory efforts to safeguard online...

The Independent UK

Australia rejects Elon Musk's claim that it plans to control access to the internet

An Australian Cabinet minister has rejected X Corp. owner Elon Musk’s allegation that the government intends to control all Australians' access to the internet through legislation that would ban young children from social media

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The Conversation

Grattan on Friday: Marles plays a defensive bat on nuclear as the government rushes to get through late work

Richard Marles is an ambitious man who hasn’t given up the dream of one day reaching the top job. But, despite being deputy prime minister, his profile is much lower than that of Treasurer Jim Chalmers, the candidate considered most likely to succeed Anthony Albanese as Labor’s leader.

The Conversation

New ‘best practice’ principles for superannuation products are coming. We asked a panel of experts what should be included

We all know how important it is to save enough money for retirement – but what about spending it wisely when we get there?

The Conversation

Budget update will revise down company tax receipts but treasurer Chalmers welcomes economy’s ‘soft landing’

Next month’s federal budget update is expected to revise down company tax receipts for the first time since 2020, amid continued low economic growth in the near term.

The Guardian - AU

Dutton’s position on international student caps ‘utterly reckless’, Giles says – as it happened

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AAP

'A sliver': don't expect oversized budget windfalls

Falling iron ore prices and a weaker labour market will weigh on this year's revenue upgrades, the federal treasurer says.

AAP

Changes to super to bolster transparency and quality

Retirees hoping to use their savings will be offered improved transparency and information as the government introduces changes to superannuation.

The Conversation

Chalmers targets reforms to superannuation products and transparency in the retirement phase

Treasurer Jim Chalmers will announce on Wednesday a package of reforms to the retirement phase of the superannuation system, to make it easier to navigate and consumer friendly.

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