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The Latest Breaking News from Jim Chalmers

Tax cuts to cost $11b more than estimate

The federal treasurer says the controversial stage three tax cuts will cost billions more than previously thought as the government faces calls to scrap them.

AAP

Labor promises full-fibre NBN access to 1.5m homes and businesses by 2025

Tuesday’s budget will include provisions for faster internet to mainly regional areas across Australia at a cost of $2.4bn

The Guardian - AU

Albanese stands by West Jerusalem walkback, but concedes it could have been handled better

The prime minister says Labor has held the position for some time now and it was his predecessor who played politics with the issue in 2018.

ABC News

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How are medical professionals rorting Medicare systems? Do patients know? Are they liable?

The $28 billion Medicare system is being abused, with fraud, errors and over-servicing costing some $8 billion a year. How's it being done, and could it be happening to you?

ABC News

Cost of living relief could spur inflation

Treasurer Jim Chalmers says any cost of living relief will need to be targeted in the federal budget to avoid further financial pressures on Australians.

AAP

Paul Bongiorno: A bread-and-butter budget with no hundreds and thousands

Treasurer Jim Chalmers started it and Infrastructure Minister Catherine King joined the chorus telling us about “a bread-and-butter budget”.

The New Daily

Guardian Essential poll: voters split on whether Labor should ditch the stage-three tax cuts

Bare majority of respondents say Labor should stick with tax cuts despite changed economic situation – but most of those in favour stand to benefit

The Guardian - AU

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‘Seriously impacted’: Treasurer’s food price warning as floods devastate farmers

Australians are bracing for the biggest cost of living crisis in 30 years to get even worse as widespread flooding.

The New Daily

Morning mail: thousands of homes in flood waters’ path, plan to end family violence, Xi cements power

Monday: Shepparton residents face evacuation orders in Victoria’s flooding crisis. Plus: cricket upset as minnows open T20 World Cup with a win

The Guardian - AU

In sticking with tax cuts divorced from reality, Labor is left with a hard choice

The big question prior to Treasurer Jim Chalmers delivering the Albanese government’s first budget on October 26 has been whether it will seek to modify the “stage 3” tax cuts legislated by the Morrison government, with Labor’s support.

The Conversation

Treasurer Jim Chalmers warns of global economy's 'perilous path' ahead of federal budget

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

ABC News

Documents reveal Australia’s efforts to stay neutral as Donald Trump claimed electoral fraud

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

The Guardian - AU

What we know about the budget so far

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.

AAP

Inflation still 'public enemy number one'

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

AAP

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The New Daily

Debate on tax gets ugly as Sussan Ley takes on Teal independents

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

The Conversation

Grattan on Friday: Government must find a way to force gas prices down – but how?

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?

AAP

Budgets 'best buffer' to global recession

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

ABC News

Treasurer Jim Chalmers warns of US recession prior to meeting with G20 counterparts

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.

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The Guardian - AU

Labor ramps up pressure on gas industry as energy prices rise but stops short of price caps

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

AAP

Neutral cash rate 'guide' for reserve bank

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.

AAP

Coalition 'pet projects' on chopping block

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

The Guardian - AU

Businesses lobby for carbon tariffs as Labor says Australia is ‘back in the game’ on climate

Federal treasurer Jim Chalmers to attend meeting of Coalition of Finance Ministers for Climate Action in Washington this week

The Guardian - AU

Australia predicted to avoid worst of downturn as IMF warns of global recession

Revenue boost will aid budget repair as ‘storm clouds’ loom over economy, Deloitte predicts

The New Daily

Downturn budget won’t ‘spray cash’ on bill relief despite $114b boost

The federal government's budget is awash with $114 billion in new revenue, but Australians won't see much in terms of cost-of-living relief.

The Conversation

Chalmers flags gas action, with escalating power prices a cost-of-living nightmare for government

High and rising power prices will become a bigger part of Australia’s inflation problem over time, Treasurer Jim Chalmers has warned, as he foreshadowed more government action to combat high gas prices.

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