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The Latest Breaking News from Jim Chalmers

Subs fleet hailed as watershed deal for Australian jobs

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

AAP

Will Silicon Valley Bank's collapse spark a US recession with ripple effects across the globe?

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.

ABC News

Alan Kohler: Paying for AUKUS? Spending like Europe means taxing like Europe

Before the next election, Treasurer Jim Chalmers must find a way to credibly restore a balanced budget. This means new and higher taxes.

The New Daily

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Michael Pascoe: ‘Aspirational Australians’, Peter Dutton’s venality and other tax jokes

Peter Dutton’s claim that “the government’s super tax is an attack on aspirational Australians ...” would be sad if it wasn’t laughable.

The New Daily

Peter Dutton believes he has found Labor’s weak spot – but can he move beyond defending millionaires?

The Coalition sought to embarrass Stephen Jones as it tried to construct a broader narrative about broken promises

The Guardian - AU

Politics with Michelle Grattan: Chair of Retirement Income Review, Mike Callaghan, on reforming superannuation

Treasurer Jim Chalmers sparked a political row when he announced a tax hike on superannuation concessions for accounts with balances over $3 million, from 15% to 30%, to begin in 2025. Polling indicates the move has broad support from the public, although any change to super is always controversial. Opposition…

The Conversation

Dutton takes aim at 'reckless' government spending

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

AAP

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Get the basics right for National Environmental Standards to ensure truly sustainable development

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 Conversation

As crisis calls over financial distress climb, treasurer and finance minister say they know rate rises are hurting

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.

ABC News

Reserve Bank closer to pause on rate rises: Philip Lowe

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

The New Daily

Coalition and Greens team up to force Labor to release emissions modelling

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 Guardian - AU

‘Inflation has peaked’: RBA hikes interest rates again and signals more as economy slows

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.

The New Daily

Australia hikes key interest rate to 3.6% to fight 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

The Independent UK

RBA fires off another rate hike to tackle inflation

The Reserve Bank of Australia has lifted interest rates for the 10th month in a row in its unwavering fight against high inflation.

AAP

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The New Daily

No time for ‘freebies’: Calls for another tax break to be axed

Income tax cuts are back at the centre of debate as key independents say the public won’t tolerate another tax break for the very wealthy.

The New Daily

Mortgage holders brace for another interest rate blow

The Reserve Bank is expected to raise interest rates again, turning up the heat on already stretched household finances.

The New Daily

Newspoll shows voters approve of super tax plan

The latest Newspoll shows a majority of voters approve of the government's superannuation tax plan, but Labour and PM down

The Guardian - AU

Angus Taylor says Labor has breached trust with ‘reckless’ superannuation changes

Jim Chalmers has accused shadow treasurer of waging a ‘ridiculous scare campaign’ that doesn’t stand up to the facts

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The Guardian - AU

Afternoon Update: Monique Ryan lost confidence in Sally Rugg, court hears; racial tensions in Hawaii; and fruits and veggies to buy in March

Friday’s court hearing contained fresh revelations about the breakdown of Ryan and Rugg’s relationship

ABC News

Does Labor plan to use your super as a 'piggy bank' to fund its pet projects?

The Coalition says Labor plans to use your super as a 'piggy bank' to fund its pet projects. What are the facts?

The Conversation

Tax breaks cost a reported $250 billion, but handle these new figures with care

Treasurer Jim Chalmers promised a Tax Expenditures Statement by the end of February – and he delivered this week, just in time, on Tuesday February 28.

The Conversation

Grattan on Friday: Trimming the tail of the superannuation tax tiger is no easy task

If you were being really cynical, you might say the government should have hacked into those stage 3 tax cuts, while leaving super alone. That would have received much the same political angst, but saved a heap more revenue.

ABC News

Superannuation tax changes will not be indexed, says treasurer. Here's what that means

The federal government has proposed changes to super tax concessions. What exactly are they and what will it mean for you?

The New Daily

Alan Kohler: The superannuation tax increase is a dress rehearsal

Jim Chalmers has hit upon a clever way to seek an election mandate for superannuation tax increases but book the revenue straight away.

The Conversation

Inflation still the 'defining challenge' as Australia's economic activity slows

Australia has recovered better than most from the COVID pandemic. As measured by gross domestic product (GDP), the economy is now 7% larger than it was before the pandemic.

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