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The Latest Breaking News from Jim Chalmers

Chalmers says spending will remain measured as cost of living bites

Jim Chalmers has refused to commit to ramping up populist cost of living measures in response to Queensland’s election loss, and it’s one week until Americans go to the polls.

Crikey

Chalmers says it’s ‘problematic’ gambling companies claimed $90m worth of research tax credits in one year

Treasurer indicates Labor may be prepared to stop poker machine and betting companies from accessing tax concessions for R&D

The Guardian - AU

Parties set sights on federal poll as state turns blue

A change of government in the Sunshine State has left the major parties pondering a different plan of attack for the upcoming federal election.

AAP

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David Crisafulli and LNP take Queensland

The LNP is on track to take at least 48 seats in Queensland after its state election victory over the weekend, and the RBA’s November meeting could ‘slam the door’ on the possibility of a 2024 rate cut.

Crikey

Treasurer: Conflict casts dark shadow over the economy

While visiting Washington, DC, for a series of meetings with the G20, IMF and World Bank, the treasurer also sat down with Republican and Democrat advisers.

AAP

Mideast war not behind Aussie inflation: opposition

Unlike Australia, inflation and interest rates are falling in the UK, the US, Canada and New Zealand despite conflict in the Middle East, the opposition says.

AAP

'No doubt' inflation is moderating: finance minister

Much is riding on quarterly inflation data out next week as Australia's slow progress by international standards has Labor defending its economic record.

AAP

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LNP piggybacks federal Labor policy to chew into costs

The Queensland Liberal National Party will borrow a federal Labor plan to drive down debt and increase savings, after finally announcing its economic plan.

AAP

Australia will soon have second highest global inflation rate: IMF

The International Monetary Fund says Australia’s rate of inflation will soon exceed that of almost all advanced economies, and David Crisafulli finally gives a straight answer on abortion.

Crikey

Australia facing further economic troubles

Australia is facing ongoing economic challenges as Labor holds out hope interest rates will come down before the federal election.

AAP

Strong labour force report dims rate cut prospects

Interest rates are unlikely to fall soon after new data showed workers are being onboarded by employers in huge numbers, reflecting a resilient jobs market.

AAP

Albanese’s $4.3m home purchase could increase pressure to change property tax laws, Labor MPs suggest

Prime minister says he is focused on solving the housing crisis but the opposition has accused him of being out of touch with voters

The Guardian - AU

Australia to ban ‘dynamic pricing’ of tickets after Green Day uproar

Australian Prime Minister Anthony Albanese says he will outlaw ‘dodgy practices’ that rip off customers.

Al Jazeera

Dodgy subscription traps and hidden fees to be banned

A slew of manipulative sales tactics, including subscription traps and hidden fees, are in the federal government's sights.

AAP

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Al Jazeera

Australia announces plans to ban debit card surcharges

Australian Prime Minister Anthony Albanese says move would help ease cost of living for households.

AAP

Debit card surcharges could be scrapped in crackdown

Surcharges on debit card purchases could become a thing of the past by 2026, but some groups are warning the fees could be imposed in other ways.

The Guardian - AU

Shoppers to no longer pay fees when using debit cards under new Albanese government plan

Treasurer says uncovering ‘unfair’ practices also part of proposed surcharge revamp designed to give consumers better deal and cut small business’s costs

The Conversation

Grattan on Friday: Oil prices could be where the Middle East crisis collides with Australia’s cost-of-living crisis

Angry, accusatory partisan exchanges over the Middle East war have dominated federal politics this week. But for most ordinary voters the issue remains “over there”.

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The Guardian - AU

Global petrol price spike due to Middle East conflict to hit Australian motorists, Jim Chalmers warns

‘Rule of thumb’ is Australia’s inflation rises 0.4% when a 10% increase to crude oil price lasts a year

AAP

More pain at the petrol pump as oil prices spike

Conflict in the Middle East is having a flow-on effect for Australian fuel prices but petrol stations have been cautioned not to take motorists for a ride.

AAP

New merger laws to shelve 'damaging' supermarket deals

The competition watchdog will have to be notified of every supermarket merger to prevent major players from gaining an unfair advantage.

The Conversation

Failure to launch: why the Albanese government is in trouble

It wasn’t meant to be like this.

The Guardian - AU

IMF backs RBA not cutting interest rates and says phasing out tax breaks for property investors would be ‘equitable’

‘The RBA’s decision to maintain its restrictive policy stance in the near-term is appropriate,’ fund says in latest assessment report

AAP

Australia may miss billions in green Chinese investment

Chinese investment in Australia has fallen, despite the nation's growing budget for renewable energy projects in the transition to net zero emissions by 2050.

Crikey

Iran begins attack on Israel

Iran has launched missiles at Israel in retaliation for the assassination of Hamas and Hezbollah leaders, and the first (and only) US vice presidential debate is today.

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