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The Latest Breaking News from Jim Chalmers

Tax cuts to help households 'catch up' to rate rises

After a long wait and much political tussling, the stage three tax cuts are finally about to come into effect - and not a moment too soon.

AAP

ANZ’s $4.9 billion Suncorp takeover will now go ahead. Is the government sending mixed messages on business competition?

Two years after the deal was first announced, Treasurer Jim Chalmers has today given the green light for ANZ to acquire the banking arm of Queensland-based insurer Suncorp.

The Conversation

Budget surplus running at $18bn so far this year, Australian government data shows

May budget had previously predicted surplus of $9.3bn in 2023-24 but there has been earlier than anticipated payment of corporate taxes

The Guardian - AU

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Greenlight for ANZ's takeover of Suncorp's banking arm

ANZ's multibillion-dollar deal to buy Suncorp's banking arm is full steam ahead after federal Treasurer Jim Chalmers approved the plan.

AAP

Any power cost reductions must flow to households: ACCC

Aussies are using less power and producing more rooftop solar to cope with energy costs, the consumer watchdog finds, urging retailers to share cost reductions.

AAP

Second budget surplus in reach as inflation runs hot

Another forecast budget surplus would help in the fight against rising prices, says the government amid pressure over the latest hot inflation readout.

AAP

Supermarkets could face billions in fines for grocery code breaches as Labor commits to reforms

Government to adopt recommendations of conduct review in full amid consumer and supplier complaints about soaring profits

The Guardian - AU

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Families set to pocket more than $60 a week from stage-three tax cuts

Treasury analysis shows ‘mums and dads’ will be among the biggest beneficiaries when 1 July cuts kick in, Jim Chalmers says

The Guardian - AU

Tax cuts to see families pocket an extra $60 a week

The latest tax cuts will see families with children pocket more than $60 a week on average, Treasury analysis shows.

AAP

Dutton goes nuclear, proposing seven government-owned generators with the first starting in 2030s

Opposition leader Peter Dutton has announced seven sites for reactors, unveiling his long-awaited and highly-controversial policy for nuclear power with the claim it could start operating from the 2030s.

The Conversation

Peter Dutton names seven potential nuclear power station sites but avoids questions on cost

Coalition to push ahead with potential sites across Australia, but serious questions remain about viability and cost

The Guardian - AU

This month's ACT budget needs to deal with a thorny problem

The ACT budget will be handed down on June 25.

The Canberra Times

Win for dudded savers as banks forced to alert changes

A suite of changes to banking regulations should make it easier for customers to move to more competitive home loan and saving account offers.

AAP

Chalmers eyes soft landing amid budget criticism

The pressure on Australia's economy from higher interest rates justifies the decision not to deliver a "slash and burn" budget, Treasurer Jim Chalmers says.

AAP

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AAP

Households keep falling behind as rate increases bite

Most borrowers are adapting to tough financial conditions but the number of people in hardship or struggling to meet repayments is growing.

The Guardian - AU

Afternoon Update: Costello incident could be on airport CCTV footage; Archibald prize winner announced; and Netflix sued over Baby Reindeer

MPs say additional camera angles may shed light on incident at Canberra airport

Pedestrian.tv

Did Taylor Swift’s Eras Tour Save The Australian Economy? The Verdict Is Finally In

Did Taylor Swift save the Australian economy when she came here for the Eras Tour? The verdict is finally in.

The Guardian - AU

Former ADF chief to report on Zomi Frankcom’s Gaza aid convoy death in ‘coming weeks’ – as it happened

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AAP

Inflation disappoints and tempers hopes of rate cut

The monthly inflation gauge has bounced higher for a second month, moving the indicator further away from the Reserve Bank's target range.

The Conversation

Top economists give budget modest rating and doubt inflation will fall as planned

Asked to grade Treasurer Jim Chalmers’ third budget on his own criteria of delivering on “inflation in the near term and then growth in the medium term”, most of the 49 leading economists surveyed by the Economic Society of Australia and The Conversation have failed to give it top marks.

The Conversation

Peter Dutton makes Labor’s case. Tax breaks for landlords should be restricted to those who build homes

Opposition Leader Peter Dutton might have done us a favour.

The Guardian - AU

Peter Dutton’s migration cuts would cost budget $34bn over coming decades, thinktank calculates

Grattan Institute estimate backs Jim Chalmers’ claim move would cost ‘billions’ – but opposition leader labels treasurer’s statement ‘voodoo economics’

The Guardian - AU

Dutton’s plan to cut immigration would cost Australia’s economy ‘billions’, treasurer says

Jim Chalmers says a proposal to reduce permanent migration to ease the housing crisis would damage the country’s skills base

AAP

Regions open to migrants even in plan to slash numbers

Regional towns and universities would continue to welcome international students and workers under the coalition's plan to address the housing crisis.

The Guardian - AU

Budget replies reveal Coalition ‘all over the shop’, PM says, labelling Dutton’s nuclear policy ‘shocking’ – as it happened

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