News Articles for Jim Chalmers

Australia's benchmark interest rate is now at a three-year high following the RBA's decision to lift the cash rate target for the third time in as many months.

The Reserve Bank of Australia board is expected to lift the official cash rate to 1.35 per cent when it meets on Tuesday.

Reforming childcare and higher education policy shape as top priorities for Labor in its first term in government.

CLIMATE change, an Indigenous Voice to Parliament and preserving superannuation may have come in ahead of universal childcare in Anthony Albanese's victory speech, but the issue will no doubt be a metric by which his government is judged during the next three years.

The Reserve Bank of Australia has lifted the cash rate by 50 basis points, the largest single increase in more than 20 years.

Confidence has dropped to its lowest level since mid-August 2020 as cost of living pressures mount, not helped by an expected further rise in interest rates.

Treasurer Jim Chalmers remains coy on whether the Labor government will pull a gas trigger to shore up domestic supply, as energy prices spike.

Anthony Albanese has announced his 23-person cabinet with some major responsibilities for Western Australians in the outer ministry.

It might be out of the incoming treasurer playbook, but Jim Chalmers says the budget is in bigger trouble than we've been told.

After being thrust into the international spotlight, Prime Minister Anthony Albanese will focus on his domestic agenda when he returns from overseas.

The new Labor government will hit the ground running following the election as the exact make up of parliament remains unclear.

Our political leaders need to show a united front on the China-Solomons deal rather that trying to outmuscle each other.

The handing down of the federal budget means most of the Morrison government's cards are now on the table ahead of the May election.

Tuesday night's federal budget is expected to include a cut to the fuel excise as well as assistance for more first home buyers.

In a major speech two weeks out from the federal budget, Josh Frydenberg says the government will tackle the deficit while helping families with cost pressures.

A day after the announcement of Guy Debelle's resignation, Reserve Bank governor says there are strong internal candidates for the deputy governor role.

Retail spending in Western Australia jumped 4.7 per cent month-on-month in January, while interstate consumers showed some caution.

Australia will immediately commit more than $4 million to a NATO fund for Ukraine to support non-lethal military equipment and medical supplies.

Annual wages grew 2.3 per cent as of the December quarter, the highest since mid-2019, but still lagged well behind the rate of inflation at 3.5 per cent.

Australia's construction industry suffered a slump over December and January due to the impact of the Omicron variant, continuing the sector's volatile run over the past six months.

Treasurer Josh Frydenberg says taxation will be a clear battleline between the coalition and Labor at the upcoming federal election.

Scott Morrison has warned of potential economic uncertainty for global markets in coming months in the wake of COVID-19.

Workers and businesses will have lockdown support payments wound back once key vaccination coverage milestones are reached.

New figures show real wage growth was going backwards even before the expected crunch to the economy from widespread virus lockdowns.

Labor and unions have renewed demands for JobKeeper to be reinstated but Josh Frydenberg is standing firm, saying current support measures are sufficient.

Scott Morrison has apologised for the vaccine rollout not meeting its targets but insists some of the issues were out of his control.

National wage subsidies will not be reintroduced despite millions of workers losing pay cheques as coronavirus lockdowns sweep Australia.

Treasurer Josh Frydenberg has warned Australia's slow population growth will be a challenge for future productivity gains.

The minutes of the Reserve Bank's May board meeting have again highlighted the likelihood of keeping the cash rate at a record low until 2024.

Even with jobs growing more quickly than anticipated, pay packets won't follow suit for years.

Scott Morrison and Anthony Albanese have laid out their priorities for next week's budget, with a bottom line looking in better shape than had been predicted just a few months ago.

Josh Frydenberg wants to drive Australia's unemployment rate below five per cent before he begins the task of budget repair, in what is a marked shift in strategy.

Treasury boss Steven Kennedy expects a "bump" in the unemployment rate as the JobKeeper wage subsidy comes to an end next week.

With the state election now gone and a federal election looming, can Labor look to its Shoalwater MP to understand how the west is won?

The federal government is maintaining confidence in the AstraZeneca vaccine despite its use being suspended in parts of Europe.

Christian Porter has been referred to the Legal Practice Board of Western Australia on the same day as Scott Morrison insisted he would not shuffle the attorney-general or industrial relations portfolios.

Treasurer Josh Frydenberg says a new package of support for the tourism and travel sector will be announced within days.

The Australian economy grew by 3.1 per cent in the December quarter, continuing the strong rebound from last year's recession.

Negotiations over the government's media code has reached the highest levels, with Prime Minister Scott Morrison having a "constructive" meeting with Google's global boss.

Labor is standing by calls to extend the JobKeeper scheme despite the Reserve Bank governor downplaying the need.