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The Latest Breaking News from Jim Chalmers

Budget will balance inflation, rates: PM

The federal government has not changed its position on tax cuts legislated for 2024, the prime minister says as pressure mounts to rule out scrapping them.

AAP

Grattan on Friday: Jim Chalmers plays the tease as he pushes to change Stage 3 tax cuts

When Scott Morrison was treasurer he flew the kite for an increase in the GST. The debate ran a while, before then prime minister Malcolm Turnbull shut it down. It was all too hard.

The Conversation

Stage-three tax cuts in the spotlight as global gloom weighs on federal budget

Amid warnings global monetary tightening might give way to worse, Treasurer Jim Chalmers says the upcoming budget will not be immune.

The New Daily

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Teen charged with attempting to blackmail Optus customers using stolen data

The 19-year-old Sydney man allegedly sent SMS messages demanding $2,000 to 93 customers whose data had been released online after Optus breach

The Guardian - AU

Labor attacked by former RBA governor Bernie Fraser for sticking to ‘dodgy’ stage-three tax cuts

Fraser says Albanese government should repeal stage three as the tax cuts are ‘even more unfair’ due to falling real wages

The Guardian - AU

Australia unveils privacy rule changes after Optus data breach

Australia on Thursday proposed an overhaul of consumer privacy rules that will help facilitate targeted data sharing between telecommunication firms and banks following a massive data breach at Optus, the country's second largest mobile operator.

Reuters

Government announces law changes in response to Optus data breach

The federal government has announced its response to record Optus data breach, with changes to the telecommunications laws.

The New Daily

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Government strengthens powers for telcos to share affected data following Optus hack

Optus will be able to share drivers licences, Medicare and passport numbers with banks and government agencies to assist in fraud detection following a data breach that affected almost 10 million current and former customers.

ABC News

Jim Chalmers has a unique chance to remake Australia – or to squander $243bn on the rich

Australia is one of the richest countries in the world but decades of tax cuts have trained us to feel poor

The Guardian - AU

Former ACCC boss Rod Sims calls for tax increases amid debate over stage 3 cuts

The former chair of the ACCC says taxes must rise if the federal government wants to deliver the essential services Australians demand.

ABC News

Liberal moderate Bridget Archer says Labor right to be questioning stage-three tax cuts

Archer tells Albanese government ‘it’s OK to change your mind’ as debate continues within ALP about future of Coalition tax package

The Guardian - AU

Stage-three tax cuts: What makes them so controversial?

Stage three tax cuts will kick in during 2024 and on net it will benefit people who earn over $180,000, or the top 3.7 per cent.

The New Daily

Reserve Bank’s dovish interest rate rise gives Jim Chalmers more cause to grin than grimace

The treasurer was used to empathising with borrowers after the RBA’s ‘supersized’ rises – instead, he got to talk about the budget

The Guardian - AU

Treasurer pleads caution on tax cuts as calls to ditch them grow louder

With deteriorating global economic conditions and no prospect of remission inflation, the Treasurer promised a “sustainable” budget.

The New Daily

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The Independent UK

Australian central bank lifts cash rate to 9-year high 2.6%

Australia’s central bank has boosted its benchmark interest rate for a sixth consecutive month to a nine-year high of 2.6%

The Canberra Times

Rate pain will add more scrutiny to Labor's economic management

The sixth consecutive rate rise may impinge on Labor's budget plans.

The Guardian - AU

Jim Chalmers says he will make the ‘right decisions’ on stage-three tax cuts

Treasurer says while the government’s policy has not yet changed ‘any responsible government’ would be looking at global economic pressures

The Guardian - AU

Banks raise interest rates in response to RBA – as it happened

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The New Daily

Paul Bongiorno: Time overdue for a conversation about our welfare state

The penny is dropping even in the citadels of western capitalism that trickle-down economics is no longer fit for purpose – if it ever was.

AAP

Multinational tax reform gets under way

The Albanese government has opened consultations on international corporate tax reforms to close tax loopholes exploited by multinationals.

The Guardian - AU

A shift on stage-three tax cuts would move the first Albanese budget from B for boring to B for big

Labor understands any broken promise will be weaponised by its political foes. But an economic storm is brewing and it’s time to change tack

The Canberra Times

How the government plans to make multinationals pay their share of tax

The federal government has begun moving on international tax reforms.

AAP

Rate rises tipped to slow in coming months

Mortgage holders will be watching the central bank's October decision nervously, with a rate rise of at least 25 basis points all but certain.

The New Daily

Alan Kohler: Past budgets and tax cuts are a foreign country

When LP Hartley wrote “the past is a foreign country: they do things differently there”, as the first line of his novel The Go-Between, he was on about

The Guardian - AU

Majority of Australians back sound economic management over keeping promised tax cuts, survey suggests

Almost half of those polled support axing stage three cuts while one quarter thought they should be kept

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