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The Latest Breaking News from Jim Chalmers

West versus rest as fresh stoush brews over GST spoils

A review of a contentious carve-up has reignited debate over the fairness of one state getting more GST revenue under a special deal with a previous government.

AAP

Economy shrugs off tariff turmoil to outperform peers

Central banks such as the RBA need to be wary of the risks of inflation kicking off again, which could trigger market sell-offs, a global economic body warns.

AAP

Head of corporate regulator to step back from role

ASIC chair Joe Longo has announced he won't look to be reappointed in the position when his term runs out in May.

AAP

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Government announces 2035 target of 62–70% emissions reduction

The Albanese government has announced Australia will commit to cutting emissions by between 62% and 70% on 2005 levels by 2035.

The Conversation

This report measures our national wellbeing across five key areas. Health trends are not improving

In 2023, Treasurer Jim Chalmers announced the government would measure what matters to the wellbeing of Australians as a complement to the traditional economic measures in the national accounts.

The Conversation

Future Fund eclipses $250b after bumper return

Australia's sovereign wealth fund has delivered a strong result for financial year 2025, despite significant global economic turmoil.

AAP

We can’t fix what we don’t track. That’s why Australia needs an official poverty measure

Following last month’s economic reform roundtable, Treasurer Jim Chalmers said all attendees agreed “higher living standards is the holy grail, and a more productive economy is how we deliver it”.

The Conversation

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Electric road fees push sparks-up to plug fuel tax gap

EV users are closer to paying road maintenance fees as the nation's treasurers meet to work out a way to fund a shortfall of drivers paying less excise on fuel.

AAP

AI business 'wake-up call': teach workers or miss out

Workers need greater training in artificial intelligence technology to tap into future innovations, a study has found, but many are resistant to change.

AAP

Hot economic growth may place further rate cuts on ice

Reserve Bank governor Michele Bullock has signalled there might not be many more interest rate cuts to come after surprisingly strong economic growth.

AAP

Australian households are spending more – and it’s helping the economy regain some momentum

After two years of weak economic growth, there are signs of a recovery in household consumption – though productivity remains a soft spot

The Guardian - AU

Australia’s economy shows best result in two years as consumer spending picks up

The Australian economy picked up strength in the June quarter as consumers opened their wallets, boosted by interest rate cuts earlier in the year.

The Conversation

Everyone in Canberra agrees action is needed on AI. But what to do and how? And at what cost?

Balancing productivity gains with the potentially negative impact on jobs and our way of life will be a defining issue for Labor

The Guardian - AU

'No-brainer' to end negative gearing on holiday rentals

A group of crossbenchers and Labor parliamentarians have heard ending negative gearing on short-stay rentals would boost housing affordability and the budget.

AAP

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AAP

Business boost as more nuisance tariffs get the chop

Another 500 nuisance tariffs on items such as tyres and wine glasses are set to be slashed, saving Australian businesses millions in compliance costs.

AAP

Show us your 'cojones': cricket star tests PM on Israel

The prime minister has been urged to sanction Israel during a meeting with cricketer Usman Khawaja who says Anthony Albanese has the "cojones" to take action.

The Guardian - AU

Usman Khawaja says Labor has been ‘100% too slow’ to ban gambling ads to protect children

Australian cricketer says the normalisation of gambling in sport for young people is ‘scary and dangerous’ as government continues to sit on reforms

AAP

G'day AI: ChatGPT company reveals its Australian move

Australian companies rank among its top subscribers and OpenAI has announced plans to move an arm of its operations to Australia.

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AAP

Youngest senator describes battle with depression

Australia's youngest senator celebrated her 21st birthday on election night, and has laid bare her journey to the nation's federal parliament.

AAP

Tax perks on super for retirees 'deserved': treasurer

As the government considers tax changes to give younger generations a break, concessions on super for retirees are still fair, Jim Chalmers says.

AAP

Pause on new regulations to fast track building homes

A pause in new regulations on construction standards will aim to have homes built faster under changes stemming from the productivity roundtable.

AAP

Why Australian AI regulation could be a legal patchwork

Artificial intelligence may not be governed by a single, dedicated law in Australia but experts say changes to several existing laws could offer protection.

AAP

Warning building rule book freeze not consequence-free

A pause or review of the construction code has garnered support as a way to speed up home building but some argue a full hiatus could be counterproductive.

AAP

Treasurer mulls making tax fairer for young Australians

Australia's "unfair" tax system has created a situation where retirees can earn the same income as working households, but pay less than half the tax.

The Guardian - AU

Giving Australians $2,700 tax back while widening GST could help generate $152bn windfall, economist says

Economist who modelled GST estimates his proposed tax reform would lift real GDP by 6%, boost business investment by 11% and increase the number of homes by 8%

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