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The Latest Breaking News from Jim Chalmers

Afternoon Update: RBA’s rate hike surprise; higher tobacco taxes; and Serena Williams’ Met Gala reveal

Central bank raises cash rate by 25 basis points to 3.85% in defiance of most economists’ predictions

The Guardian - AU

Australian central bank hikes interest rate to 3.85%

Australia’s central bank has surprised markets by increasing its benchmark interest rate by a quarter percentage point to 3.85% despite pausing its climb last month and new evidence that inflation is slowing

The Independent UK

Presented with a JobSeeker finding too clear to ignore, he changed the subject: how Jim Chalmers is shaping the budget

What was Treasurer Jim Chalmers thinking?

The Conversation

From analysis to the latest developments in health,
read the most diverse news in one place.

Jim who? Chalmers may not have Keating’s cut-through but this budget is his chance to serenade Australia

The treasurer’s biggest challenge is not making the numbers add up, it’s making sure the words take voters with him

The Guardian - AU

'Payday super' changes tipped to add thousands to retirement incomes, catch more unpaid superannuation

Millions of Australian workers are set to retire with thousands more in their superannuation accounts after changes from the federal government requiring all businesses to pay their employees' superannuation on payday.

ABC News

Superannuation to be boosted by thousands after change

Young workers are set to receive about $6000 extra in their superannuation balance on retirement after changes to how their payments are made.

The New Daily

Welfare payment boost expected for people aged over 55

Older Australians are tipped to receive a modest boost to JobSeeker payments, with a commitment to considering broader increases to welfare payments expected.

The New Daily

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Treasurer refuses to confirm reported JobSeeker lift for people over 55, but says targeted support in the budget

The federal budget will contain targeted support for unemployed women over the age of 55, but the treasurer will not say if that will come in the form of a lift in the JobSeeker rate for that group.

ABC News

Guardian Essential poll: Australians back jobseeker increase and look to budget for cost-of-living relief

Poll also suggests honeymoon glow has not worn off Anthony Albanese as support for Peter Dutton continues to slide

The Guardian - AU

Labor announces payday super to crack down on billions in unpaid funds each year

The measure will deliver a ‘more dignified retirement to more Australian workers’, treasurer Jim Chalmers says

The Guardian - AU

Australia to reveal huge budget rebound, pledge restraint in response

Australia's Labor government is set to reveal a vast improvement in the budget bottom line next week as its coffers bulge with tax windfalls, yet the outlook will be a sober one as fiscal challenges loom large.

Reuters

ACT ranks second-last in economic performance: report

Canberra, however, led the nation on the value of home loans.

The Canberra Times

Flush with cash, government is crying poor before budget

The budget balance is in the black – which makes compulsory doomsaying and lowering of expectations much harder to pull off for Jim Chalmers.

The New Daily

Major tax break announced for small businesses going green

Small and medium-size businesses that invest in energy efficient equipment could be eligible for a tax deduction of up to $20,000.

The New Daily

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Newcastle Herald

'Cruel and punitive': Widowed father of five calls for JobSeeker changes

'JobSeeker is a cheap place where the government can dump people.'

The Guardian - AU

Labor’s instinct is to indulge what it thinks middle Australia wants. It could try simply doing what works

In areas such as migration and jobseeker the government’s rhetoric is timid, when it could boldly go bigger on both

ABC News

Paul Keating warns treasurer not to remove government's power to override RBA decisions

Former prime minister Paul Keating says it would be an error for the Parliament to remove a power that allows the government to overrule the Reserve Bank's actions.

Newcastle Herald

Buy local, regional newspapers urge Albanese government

The message is appearing in 330 newspapers this week

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The Guardian - AU

Premier targets healthcare ahead of national cabinet – as it happened

This blog is now closed.

ABC News

More Australians forced out of homes as rental housing affordability crisis rages on, Anglicare report shows

At 58, Dawn Dowling has been forced to move in with a friend, as an annual snapshot from Anglicare of rental affordability in Australia paints a grim picture.

The New Daily

Alan Kohler: Something strange and sad is happening to the Labor Party

Something strange and sad has happened to Labor. The policy courage of Whitlam, Hawke and Keating has been replaced.

The Guardian - AU

Labor should use its ‘power for the people’ and lift jobseeker, former RBA governor says

Bernie Fraser has joined the chorus of calls to raise rates as Labor MP warns ‘we may not get a second chance’

The New Daily

‘Considerable’ numbers of Labor MPs join push to raise JobSeeker

Economists, anti-poverty advocates and Labor MPs are among those calling on the government to raise the “cruel” rate of JobSeeker.

The New Daily

Workers should be on the Reserve Bank of Australia’s board

These representatives bring expert knowledge of how the real economy works and labour market operations. Workers must have a say.

The Guardian - AU

Jim Chalmers promises cost-of-living relief in budget but won’t commit to raising jobseeker

Treasurer says government’s focus remains on jobs, as CEO of Acoss says increasing unemployment benefit still a ‘live debate’

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