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The Latest Breaking News from Jim Chalmers

Floods drive up fruit and veg prices, while energy costs will prolong high inflation

Fruit and vegetable prices are expected to be 8% higher than they would have been over the December and March quarters as a result of the floods, according to budget figures released by Treasurer Jim Chalmers.

The Conversation

What we know about the ‘bread and butter’ budget from Jim Chalmers

Labor’s first federal budget in more than a decade is now just days away, with Treasurer Jim Chalmers set to deliver “bread and butter”.

The New Daily

Widespread floods will force inflation above 8 per cent for fruit and vegetables, treasurer says

Federal Treasurer Jim Chalmers says widespread flooding across some of Australia's most productive agricultural land will push up the prices of fresh produce.

ABC News

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Australia floods to dent Dec-qtr GDP, spur inflation - Treasurer

Widespread floods that have inundated large parts of Australia's southeast will dent the country's economic growth and increase inflation, Treasurer Jim Chalmers said on Friday, ahead of next week's federal budget.

Reuters

Australia aims for 'responsible' budget after UK mayhem

Australia's Labor government will launch its first budget next week with warnings about global recession and tough spending choices at home, while still meeting the modest promises made to win election earlier this year.

Reuters

Jim Chalmers is ignoring his own warnings of a possible recession

The Treasurer appears to be ignoring his own warnings ahead of the federal budget about the need to be prepared for a global recession.

The New Daily

Grattan on Friday: Politics of future budgets likely to get harder for Albanese government

When Kevin Rudd made Bill Shorten parliamentary secretary for disabilities in 2007, the post was a good deal less than the high-profile new MP’s ambition for a ministry.

The Conversation

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The Coalition scoffed at the idea of a wellbeing budget. But Australians want Jim Chalmers to deliver

The approach labelled ‘hippy economics’ is one that experts and the public are crying out for

The Guardian - AU

Forecast cost for stage 3 tax cuts rises by $11 billion

Treasurer Jim Chalmers says the forecast cost of the stage 3 tax cuts has risen and will now cost the nation around $254 billion over 10 years.

ABC News

Our environmental responses are often piecemeal and ineffective. Next week's wellbeing budget is a chance to act

Treasurer Jim Chalmers’ federal budget next week will for the first time include a section on wellbeing, which aims to measure how well Australians are doing in life.

The Conversation

Tax cuts to cost $11b more than estimate

The federal treasurer says the controversial stage three tax cuts will cost billions more than previously thought as the government faces calls to scrap them.

AAP

Labor promises full-fibre NBN access to 1.5m homes and businesses by 2025

Tuesday’s budget will include provisions for faster internet to mainly regional areas across Australia at a cost of $2.4bn

The Guardian - AU

Albanese stands by West Jerusalem walkback, but concedes it could have been handled better

The prime minister says Labor has held the position for some time now and it was his predecessor who played politics with the issue in 2018.

ABC News

How are medical professionals rorting Medicare systems? Do patients know? Are they liable?

The $28 billion Medicare system is being abused, with fraud, errors and over-servicing costing some $8 billion a year. How's it being done, and could it be happening to you?

ABC News

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AAP

Cost of living relief could spur inflation

Treasurer Jim Chalmers says any cost of living relief will need to be targeted in the federal budget to avoid further financial pressures on Australians.

The New Daily

Paul Bongiorno: A bread-and-butter budget with no hundreds and thousands

Treasurer Jim Chalmers started it and Infrastructure Minister Catherine King joined the chorus telling us about “a bread-and-butter budget”.

The Guardian - AU

Guardian Essential poll: voters split on whether Labor should ditch the stage-three tax cuts

Bare majority of respondents say Labor should stick with tax cuts despite changed economic situation – but most of those in favour stand to benefit

The New Daily

‘Seriously impacted’: Treasurer’s food price warning as floods devastate farmers

Australians are bracing for the biggest cost of living crisis in 30 years to get even worse as widespread flooding.

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The Guardian - AU

Morning mail: thousands of homes in flood waters’ path, plan to end family violence, Xi cements power

Monday: Shepparton residents face evacuation orders in Victoria’s flooding crisis. Plus: cricket upset as minnows open T20 World Cup with a win

The Conversation

In sticking with tax cuts divorced from reality, Labor is left with a hard choice

The big question prior to Treasurer Jim Chalmers delivering the Albanese government’s first budget on October 26 has been whether it will seek to modify the “stage 3” tax cuts legislated by the Morrison government, with Labor’s support.

ABC News

Treasurer Jim Chalmers warns of global economy's 'perilous path' ahead of federal budget

Figures released by the government, which are not expected to change before budget night, show the extent of Treasury's downgrades.

The Guardian - AU

Documents reveal Australia’s efforts to stay neutral as Donald Trump claimed electoral fraud

US political insider admits there are ‘reasons to worry’ for its democracy as allies wonder at damage done to the west’s credibility

AAP

What we know about the budget so far

The Albanese government is due to hand down its first budget in a little over a week. Here are the key details we already know.

AAP

Inflation still 'public enemy number one'

The inflation dragon is still breathing fire as the treasurer says higher-than-expected US inflation will have implications for Australia.

The New Daily

Debate on tax gets ugly as Sussan Ley takes on Teal independents

Deputy Liberal leader Sussan Ley attacked new teal MPs for opposing the stage-three tax cuts for high-income earners.

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