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The Latest Breaking News from Jim Chalmers

Free uni lectures, expanded climate scheme and working visa overhaul among proposals in major productivity review

A major Productivity Commission review spread over a thousand pages recommends overhauling education, immigration, workplace law and the government's signature climate policy — or else face lower wages and longer working days.

ABC News

Treasurer flags more work needed to boost productivity

A review into Australia's woeful productivity performance is expected to contain 71 reform recommendations to lift pay packets and boost national prosperity.

The New Daily

Hard work ahead to boost nation's productivity

Climate policy, the migration system, workplace laws and health and education systems have been earmarked for reform under a review of Australia's productivity.

AAP

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Any changes to the super honeypot must be put to the hive

A super dilemma: whose honeypot is it?

Newcastle Herald

‘Productivity problem’ putting living standards at risk

Treasurer Jim Chalmers says Australia is slipping down global productivity rankings - and there's no easy fix for the problem.

The New Daily

'Productivity problem' putting living standards at risk

Treasurer Jim Chalmers says Australia is slipping down global productivity rankings - and there's no easy fix for the problem.

AAP

Working Australians pay tax in real-time – now the richest Australians making capital gains should too

In drawing up his plans to more effectively tax large superannuation accounts, Treasurer Jim Chalmers might have stumbled upon a really good idea.

The Conversation

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AUKUS deal: Jim Chalmers announces $8 billion HMAS Stirling naval base expansion

Western Australia will be home to Australia's nuclear powered submarines from the early 2030s, as part of an $8 billion expansion of Perth's naval base.

ABC News

Fresh push for changes to 'distorted' GST system

The distribution of GST among states is an "affront to decency" and must be rectified by the federal government, Victorian Treasurer Tim Pallas says.

AAP

Subs fleet hailed as watershed deal for Australian jobs

The construction of new nuclear-powered submarines in Australia and associated naval base expansions will boost local businesses and jobs for decades.

AAP

Will Silicon Valley Bank's collapse spark a US recession with ripple effects across the globe?

Based in California and with about $US200 billion in assets, Silicon Valley Bank (SVB) was the 16th-largest in America, making it the biggest bank failure since the global financial crisis of 2008. The implications for financial markets and the global economy are big.

ABC News

Alan Kohler: Paying for AUKUS? Spending like Europe means taxing like Europe

Before the next election, Treasurer Jim Chalmers must find a way to credibly restore a balanced budget. This means new and higher taxes.

The New Daily

Michael Pascoe: ‘Aspirational Australians’, Peter Dutton’s venality and other tax jokes

Peter Dutton’s claim that “the government’s super tax is an attack on aspirational Australians ...” would be sad if it wasn’t laughable.

The New Daily

Peter Dutton believes he has found Labor’s weak spot – but can he move beyond defending millionaires?

The Coalition sought to embarrass Stephen Jones as it tried to construct a broader narrative about broken promises

The Guardian - AU

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The Conversation

Politics with Michelle Grattan: Chair of Retirement Income Review, Mike Callaghan, on reforming superannuation

Treasurer Jim Chalmers sparked a political row when he announced a tax hike on superannuation concessions for accounts with balances over $3 million, from 15% to 30%, to begin in 2025. Polling indicates the move has broad support from the public, although any change to super is always controversial. Opposition…

AAP

Dutton takes aim at 'reckless' government spending

Opposition Leader Peter Dutton has called on the government to exercise spending restraint rather than lift taxes to help the central bank control inflation.

The Conversation

Get the basics right for National Environmental Standards to ensure truly sustainable development

Federal Treasurer Jim Chalmers has attracted controversy by proposing to update 30-year-old superannuation laws with a definition of the purpose of superannuation as being to fund a dignified retirement. There is a clear lesson here for other reforms to make policy objectives clear, even when they seem obvious. One important…

ABC News

As crisis calls over financial distress climb, treasurer and finance minister say they know rate rises are hurting

The government acknowledges a growing number of people making financial distress calls to crisis support hotlines, as the Reserve Bank governor says the mental health concerns of Australians weighs heavily on him.

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The New Daily

Reserve Bank closer to pause on rate rises: Philip Lowe

The latest rise in the official cash rate will make things even more difficult for families with mortgages, the treasurer has warned.

The Guardian - AU

Coalition and Greens team up to force Labor to release emissions modelling

Government must produce forecasts under safeguard mechanism as treasurer adds pressure to stalled cross-party talks on limits to new gas and coal projects

The New Daily

‘Inflation has peaked’: RBA hikes interest rates again and signals more as economy slows

The Reserve Bank has raised interest rates for the 10th straight meeting in a row and continues to flag more hikes in a bid to curb inflation.

The Independent UK

Australia hikes key interest rate to 3.6% to fight inflation

Australia’s central bank has increased its benchmark interest rate by another quarter-point to 3.6% as it continues trying to tame inflation

AAP

RBA fires off another rate hike to tackle inflation

The Reserve Bank of Australia has lifted interest rates for the 10th month in a row in its unwavering fight against high inflation.

The New Daily

No time for ‘freebies’: Calls for another tax break to be axed

Income tax cuts are back at the centre of debate as key independents say the public won’t tolerate another tax break for the very wealthy.

The New Daily

Mortgage holders brace for another interest rate blow

The Reserve Bank is expected to raise interest rates again, turning up the heat on already stretched household finances.

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