The Latest Breaking News from Jim Chalmers

Figures released by the government, which are not expected to change before budget night, show the extent of Treasury's downgrades.

US political insider admits there are ‘reasons to worry’ for its democracy as allies wonder at damage done to the west’s credibility

The Albanese government is due to hand down its first budget in a little over a week. Here are the key details we already know.

The inflation dragon is still breathing fire as the treasurer says higher-than-expected US inflation will have implications for Australia.

Deputy Liberal leader Sussan Ley attacked new teal MPs for opposing the stage-three tax cuts for high-income earners.

Senior ministers this week have dramatically raised the stakes in the Albanese government’s face-off with gas producers, amid escalating energy prices and dire warnings of worse to come. The question now is: how does the government follow through with effective action to match the rhetoric?

Headwinds facing the global economy require a coordinated international response, Jim Chalmers has told at a meeting of central bank and economic officials.

Treasurer Jim Chalmers acknowledges the "deteriorating global economy and rising inflation" would put pressure on his upcoming budget, ruling out changes to legislated stage 3 tax cuts.

Unions accuse resource minister Madeline King of signing ‘dud deal’ with multinational gas companies

Getting the cash rate back to neutral is more about the journey than the destination and the Reserve will be guided by changing economic conditions.

The upcoming budget is expected to be an exercise in trimming waste and tightening spending across portfolios as taxpayers can expect modest savings.