The Latest Breaking News from Jim Chalmers

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.

Labor faces pressure in the Senate after it blocked an order to publish the findings of a probe into poor conduct among senior ranks at ASIC.

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

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

Monique Ryan has every right to want her chief of staff to ‘go the extra mile’, Crikey readers say. Big salary. Big expectations.

Labor owns the RBA’s economy, like it or not. It must make its plans explicit, and exclude the right — even if the Greens attack from the left.

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…

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

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 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.