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The Latest Breaking News from Jim Chalmers

Climate change and health in mix for wellbeing budget

Australia is edging closer to measuring wellbeing as part of its budget process alongside traditional markers of economic health.

AAP

Grattan on Friday: Chalmers grapples with a budget where economics and politics pull in different directions

Last weekend’s report that more than 10 million Australians are facing a large tax rise wasn’t a new revelation.

The Conversation

Treasurer pours cold water on call to broaden GST

Clamping down on GST-free items or raising the consumption tax entirely are unlikely to feature on the treasurer's tax reform agenda.

AAP

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Australia must navigate 'choppy waters' amid gloomy global economic outlook, says Jim Chalmers

Jim Chalmers says his budget will be built on the expectation that the economy will "slow considerably" but Australia is "better placed than most to deal with this global uncertainty".

ABC News

Jobless rate to stay low despite looming economic woes

Workers are still in short supply and the labour market is unlikely to reveal signs of loosening as the effects of inflation work through the economy.

The New Daily

The IMF has painted a grim picture of the world economy. What does it mean for Australia?

Australian economists say the IMF outlook supports their case for a soft landing after the rapid rise in interest rates

The Guardian - AU

IMF warns Australian housing market at high risk of mortgage defaults ahead of global economic downturn

The International Monetary Fund says Australia has one of the greatest risks of mortgage defaults in the world, as it warns of a significant downturn in global economic growth for the year ahead.

ABC News

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Major tax reform on ‘menu of options’ ahead of budget

Raising the GST, trimming defence spending and reforming tax breaks on super are some of the options the Grattan Institute has suggest to repair the budget.

The New Daily

Major tax reform on 'menu of options' ahead of budget

Raising the GST, trimming defence spending and reforming tax breaks on super are some of the options the Grattan Institute has suggest to repair the budget.

AAP

Australia ‘not immune’ from global economic malaise

Despite a downbeat economic forecast, Australia should weather the worst of a weak international outlook due to low unemployment and high commodity prices.

The New Daily

Australia 'not immune' from global economic malaise

Despite a downbeat economic forecast, Australia should weather the worst of a weak international outlook due to low unemployment and high commodity prices.

AAP

Treasurer Chalmers has a $70 billion a year budget hole: we've found 13 ways to fill it

No one likes spending cuts and tax hikes, but on our estimate the government will soon need more of them if they are going to make a dent in looming A$70 billion a year budget deficits.

The Conversation

Treasurer warns vaping is hurting health and the budget

The treasurer says the switch to vaping is leaving a hole in the federal budget, but the "incredibly concerning" health crisis is the main priority.

AAP

Low-income tax offset to wind down as planned

The treasurer has defended the government's decision to push ahead with the phase-out of the tax offset for low- and middle-income earners.

The New Daily

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AAP

Treasurer defends phase out of low income tax relief

A tax offset offered to low and middle income earners over the last three years is being axed, with the Albanese government saying it is no longer affordable.

The New Daily

Jim Chalmers’ next budget: Will it be good for you too?

Jim Chalmers' budget will be shaped by a government that seems to be responding once again to the threat of uncertainty.

The Guardian - AU

State treasurers propose targeting men to work in care sector to boost productivity

Board of treasurers’ submission to employment white paper taskforce suggests making training flexible and promoting regional jobs

AAP

Gloomy global economy forecasted ahead of budget

Treasurer Jim Chalmers is warning of economic uncertainty with spiking global inflation and interest rates spurred by war in Ukraine ahead of the May budget.

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The Conversation

Sure, the RBA froze interest rates this time, but there's plenty of pain to come

Australia’s Reserve Bank has hit pause on interest rates after ten successive hikes, but for many Australians, the pain it has inflicted is about to begin.

The New Daily

‘Relief’ for home owners as RBA pauses rates for first time in 10 meetings

The Reserve Bank has hit the pause button on its record breaking run of interest rates hikes in April, delivering relief to home owners.

AAP

Super tax break reform could boost budget: report

A new report by the Grattan Institute says there is plenty of scope to overhaul superannuation tax concessions in the federal budget.

The Guardian - AU

‘Once-in-a-generation opportunity’: why the RBA is under review – and what happens next?

Explainer: Report’s recommendations on the central bank are due out this month. Here’s what you need to know

ABC News

Pauline Hanson says Labor broke an 'election promise' on migration. Did it even exist?

Pauline Hanson says Labor broke an election promise by increasing migration. But Labor never made any promises about migration levels.

The New Daily

May budget ‘needs to strike right balance’

Treasurer Jim Chalmers has set the parameters for his 2022/23 budget, laying out eight key priorities for the near and longer term.

AAP

Expert warns of growing tax burden ahead of budget

Former Treasury boss Ken Henry warns inadequate tax settings are worsening intergenerational inequality as the treasurer prepares for his second budget.

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