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The Latest Breaking News from Jim Chalmers

Treasurer to deliver a $42 billion dent to budget deficit

Treasurer Jim Chalmers will deliver on election commitments but emphasise spending restraint and preserving an improved fiscal position.

The New Daily

Budget deficit to halve this financial year but spending pressures mean boost will be short-lived

Jim Chalmers’ first budget to reveal $42bn improvement to bottom line across forward estimates but conditions will deteriorate after two years

The Guardian - AU

Australian budget 2022 preview: what we know so far

Treasurer Jim Chalmers is promising a ‘solid, simple and sensible’ federal budget for the times. Here’s a summary of what has already been flagged on spending, savings and tax

The Guardian - AU

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ABC News

Why are we having a fourth budget in two years?

Budgets are typically handed down once a year in May but the last few years have seen the budget timetable thrown out the window and the financial plans delivered at all different times of the year. Here's why.

ABC News

PM says ‘family-friendly’ budget will tackle cost of living pressure – as it happened

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The Guardian - AU

Imagine if each of us could direct where our taxes were spent. Meet TaxTrack

Ahead of this week’s budget, Treasurer Jim Chalmers says he wants Australians to prepare for a serious conversation about how to pay for the services we need.

The Conversation

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Alan Kohler: Deficits and debt are about politics, not economics

Chalmers' budget has no surpluses, only deficit and debt. His “big national conversation” needs to be about why that’s OK.

The New Daily

Petrol price spike looms for motorists

Some retailers are already charging more than $2 a litre as cities move into the first new fuel cycle since petrol tax relief expired.

AAP

Labor’s ‘rorts and waste’ audit to deliver $10bn in savings to federal budget

Government will also shuffle funds and axe Coalition projects to free up $11bn for their own policy priorities

The Guardian - AU

Australia's growth downgraded and inflation drives massive rise in cost of pensions and payments in budget

Tuesday’s budget will point to a slowing Australian economy, with growth forecasts cut, and contain more than $21 billion of savings and decisions to redirect spending.

The Conversation

Budget to reveal $20 billion in savings, with Coalition grants in the firing line

The government's budget will bring the axe down on billions in Coalition grants as part of a broader $21 billion savings drive.

The New Daily

Australia will join Biden’s global pledge to cut methane emissions by 30% by 2030, Albanese confirms

Funding of more than $3bn will support agricultural methane reduction, clean tech initiatives and the commercialisation of seaweed feed supplement

The Guardian - AU

Welfare payments to add $33b to budget

Bi-annual adjustments to welfare payments in line with inflation are adding billions to budget spending, the treasurer says.

AAP

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ABC News

Treasurer Jim Chalmers reveals workers' pay will go backwards until 2024-25 ahead of federal budget announcement

Treasurer Jim Chalmers reveals workers' pay will effectively go backwards until 2024-25.

The Guardian - AU

SES urges residents of several NSW areas to evacuate – as it happened

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ABC News

New Zealand has a wellbeing budget and the man behind it says it proves budgets aren't all about finance

When Grant Robertson meets his counterparts at global events, he's regularly asked about wellbeing — not his own, but that of his entire country.

AAP

Gloomy backdrop for first Albanese budget

The Labor government is handing down its first budget at a time of economic turbulence. Here's why that matters.

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The New Daily

As Jim Chalmers prepares for the challenges ahead, these loyalties will help sustain him

Behind the doctorate, drive and disarming drawl of Jim Chalmers lies a treasure chest of friendships, David Fagan writes.

The Guardian - AU

Australia and Japan sign new security deal; flood waters peaking in northern Victoria – as it happened

Volunteers place 195,000 sandbags in and around Echuca, which could reach devastating 1993 flood levels. This blog is now closed

The Guardian - AU

Federal budget: no tax break for low- and middle-income workers as economic outlook worsens

Inflation set to peak higher than expected so workers earning less than $126,000 will not get a tax break, worth up to $1,500, beyond 2022

The Guardian - AU

Chalmers offensive: crunch time as treasurer faces first federal budget

A volatile global economy looms as Jim Chalmers assembles the Albanese government’s inaugural budget, where he will be judged on delivering on election promises while exercising restraint

AAP

Treasurer prepares 'sensible' first budget

With the global economy stalling and huge pressure to spend more on health and aged care, the first Labor budget in almost a decade has a lot riding on it.

AAP

The man behind Labor's first budget

The treasurer with working class roots is aiming to deliver a "responsible" first budget without leaving the vulnerable behind.

The Conversation

Floods drive up fruit and veg prices, while energy costs will prolong high inflation

Fruit and vegetable prices are expected to be 8% higher than they would have been over the December and March quarters as a result of the floods, according to budget figures released by Treasurer Jim Chalmers.

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