The Latest Breaking News from Jim Chalmers

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

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.

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

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…

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.

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

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 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.

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