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The Latest Breaking News from Jim Chalmers

Spending habits under a microscope ahead of budget

Higher interest rates, cost of living pressures and an increasing tax burden have kept a lid on Australian consumer spending and left retail sales weak.

AAP

Treasurer faces 'hard truths' in global industrial race

The federal budget provides the "perfect lever to pull" for Australia to win back jobs and investment in the global race to secure clean energy supply chains.

AAP

Community alliance slams 'harm' from employment service

Community organisations, unions and First Nations groups have demanded the government meet its commitments to support the unemployed and disadvantaged.

AAP

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Calls to cap student debt indexation after latest rise

University student debt will rise by 4.7 per cent from June, sparking calls for indexation to be capped.

AAP

Borrowers warned not to count on 2024 rates relief

Hotter-than-expected inflation data has likely pushed back the start date for interest rate cuts, a move that will keep pressure on mortgage holder budgets.

AAP

Financial help for uni students on placement floated

Struggling university students undertaking unpaid placements may receive financial help in the budget, as the union warns of worsening workforce shortages.

AAP

More cost of living relief on cards in federal budget

Ahead of the May federal budget, Treasurer Jim Chalmers has flagged more cost of living relief that will need to take pressure off inflation, not add to it.

AAP

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Global tensions, China slowdown casts budget shadow

The threat of escalating conflict in the Middle East has cast further uncertainty over Australia's pre-budget economic outlook, the treasurer has warned.

AAP

Tariff relief boost for Ukraine as Australia lifts aid

Australia will extend relief off Ukrainian manufactured goods to help the country's economy as it fights off Russia's invasion.

AAP

Government told to 'hold its nerve' on clean tech push

Clean energy groups want the federal government to stay the course on its industrial policy aimed at seizing a once-in-a-century decarbonisation opportunity.

AAP

Jobs market holds ground despite rise in unemployment

The official jobs data was more subdued in March as widely expected following a surprisingly strong February result.

AAP

Australia rises to second in world budget management rankings, IMF data shows

Treasurer and finance minister hail ‘remarkable achievement’ as monitor finds balance to be behind only Canada among G20 countries

The Guardian - AU

Budget clouded by global wars and weak economic growth

Treasurer Jim Chalmers will use talks in Washington to take the temperature of the global economy as he puts the finishing touches on his third federal budget.

AAP

Critical minerals loan will help export sector grow: PM

Anthony Albanese says a $400 million loan to the critical minerals sector will help expand exports into nearby southeast Asia.

AAP

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AAP

Budget surplus 'still our goal' despite war, inflation

A budget surplus is "still our goal" but the degree of difficulty has risen with global economic uncertainty hitting tax revenue, Treasurer Jim Chalmers says.

AAP

Manufacturing push is no 'free-for-all': treasurer

A plan to promote local manufacturing in a net-zero economy will incentivise private investment, not replace it with government funds, the treasurer says.

The Guardian - AU

Labor’s interventionist industry policy aims big. But how can Australia compete with the US and China?

The Albanese government has shed little light on how billions of dollars will be divvied up. The treasurer’s ‘favourite economist’ might provide some clues

The Guardian - AU

Firms would have been less able to accelerate prices and inflation with proposed competition policy, Chalmers says

Treasurer says proposed reforms would mean ‘more confidence’ in mergers scrutinised by the ACCC

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AAP

'Hit and miss' merger rules reworked in major shake-up

Sweeping changes to merger rules have been welcomed by the national competition regulator and received a wary but hopeful response from big business.

The Guardian - AU

Labor targets unfair company mergers in competition policy overhaul

‘Reforms that address the decline in competition can deliver big economic benefits,’ treasurer to tell ACCC

The Guardian - AU

Emerson says breaking up supermarkets ‘too heavy handed’ as Dutton derides ‘Mickey Mouse review’

Review chief defends decision not to recommend powers that could break up supermarkets for bad behaviour

AAP

Hefty fines, tougher code could cut grocery prices: PM

Shoppers could pay less for groceries under plans to impose heavy financial penalties on supermarkets that fail to comply with a code of conduct.

The Guardian - AU

Australia’s big supermarkets could face penalties of up to $10m under proposed mandatory code

Government report stops short of recommending powers to break up big chains despite calls for forced divestiture laws

The Guardian - AU

Australia’s east coast forecast to avoid gas shortfall despite claims of looming supply crisis

ACCC report says region is expected to have surplus of six petajoules in third quarter ‘even if all uncontracted gas is exported’

AAP

New economy 'needs critical reforms to build trust'

Australian success in modern industry requires a key role for government in the economy not merely doling out loans from various funds, economic research finds.

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