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The Latest Breaking News from Jim Chalmers

Australian businesses selling essential goods and services to be forced to accept cash payments

Treasury confirms cheques will stay in circulation until 2029 but then cease to be accepted as legal tender

The Guardian - AU

Businesses will have to accept cash for essentials under government plan

The Albanese government, anxious to prevent a dash from cash by businesses, says it will mandate that they must accept it for essential items.

The Conversation

Jim Chalmers has provided an extra $900 million to boost productivity. But this ‘high priority’ problem is going to need an across the board effort

Productivity is the greatest structural problem in our economy, according to Treasurer Jim Chalmers. He says there is “no higher priority for reform”.

The Conversation

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'Gone backwards': Hopes fund can revive home-building

A $900 million fund has been welcomed by economists hopeful it will modernise the construction industry where productivity has been flat for three decades.

AAP

Australians’ wages increase faster than inflation for fourth quarter running

ABS confirms wage price index rose an annual rate of 3.5% in September quarter, bringing some relief to households battling cost of living pressures

The Guardian - AU

Albanese jets to APEC, G20 (but won’t meet with Trump just yet)

Anthony Albanese is off to South America and will not be going via Florida like the Coalition has suggested, and early election speculation has begun to swirl.

Crikey

Jim Chalmers to announce $900 million fund for states to boost competition and productivity

Treasurer Jim Chalmers will announce a fund of up to $900 million for states and territories to improve productivity and competition, in a Wednesday speech urging an all-out effort to tackle one of Australia’s biggest structural economic issues.

The Conversation

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Trump’s election leaves Coalition bursting with ideas

Liberals and Nationals are scrambling over themselves to roundly adopt or reject Trumpist policies, and this year is (once again) set to be the hottest on record.

Crikey

This is fine: Risk of economic shocks aside, Australia has no need to worry about Trump, Labor says

The second Trump presidency will add a dose of unpredictability to the global economy. But there’s no reason to stress, Australia’s top politicians have said.

Crikey

Morning Mail: Chalmers warns of Trump effect on economy, Ukraine drones target Moscow, EV sales falter

Treasurer cautions that Republican leader’s second term will affect the Australian economy

The Guardian - AU

Jim Chalmers tries to reassure voters worried about a Trump economy

The treasurer will try to convince Australians in a speech today that the global impact of Donald Trump will be worse than the local one, and the latest Newspoll continues to show bad news for Anthony Albanese.

Crikey

Australian economy prepared for Trump: Chalmers

Treasurer Jim Chalmers believes Australia is well placed to deal with global financial shocks despite the looming threat of US tariffs.

AAP

Treasury modelling says indirect impact of Trump’s tariffs likely to be worse than immediate impact for Australia

Donald Trump’s trade and tariff policy would bring a small reduction in Australia’s output and extra price pressures, especially in the short term, according to Treasury modelling.

The Conversation

Australia to navigate choppy US waters under Trump

With US president-elect Donald Trump foreshadowing tariffs and American isolationism, Treasurer Jim Chalmers says Australia will likely need to navigate change.

AAP

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AAP

February rate cut hopes hinge on jobs market softening

The economic outlook has been downgraded as the big four banks' predictions of a February interest rate cut narrows.

AAP

Mixed response to Labor pledge of student debt relief

The opposition and student union have criticised Labor's pledge to cut student debts by 20 per cent, but universities backed efforts to make the system fairer.

AAP

Australia's inflation down, but not out

There were few surprises in the inflation read-out, with economists broadly of the view underlying price pressures should keep the cash rate on hold until 2025.

AAP

Pandemic cash splash let inflation genie out of bottle

Australia could have suffered much lower inflation after COVID-19 had pandemic support been less wasteful and interest rates moved earlier, a review says.

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AAP

Nation's sick state of readiness for pandemics unmasked

Australia's healthcare, economy and public service have been exhausted by COVID-19 and a Centre for Disease Control will be set up to prepare for pandemics.

Crikey

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.

The Guardian - AU

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

AAP

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.

Crikey

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.

AAP

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.

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