Category Archives: Jim Chalmers (Australian politician)

Federal budget 2024 live updates: energy bill rebate and rent assistance boost confirmed ahead of Australian treasurer Jim Chalmers’s budget speech tonight – latest news

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Treasurer will be able to boast back-to-back surpluses when he speaks at 7.30pm tonight. Follow live updates today

Nick McKim said he agrees with EY chief economist, Cherelle Murphy, who says that you can look after people without impacting inflation by taking the money you are spending on people who don’t need it, and redirecting it to people who do. (Therefore it is the same pool of money, but targeted differently.)

McKim:

For example, you could end the massive tax breaks for property investors who own multiple investment properties then put in place a rent freeze and a rent cap, for example.

You could tax billionaires and CEOs on the basis of their wealth and you could use that revenue to raise income support, which would lift a large number of Australians out of the grinding poverty that they experience every day.

No, certainly not. I mean, what the surplus shows is that they’re prioritising their own political benefit over investing in the kind of programs that would provide genuine help to people who are really doing it tough at the moment.

So what you’re going to see in the budget tonight is that having talked up an absolute storm on things like climate change and on things like cost of living, Labor is simply not prepared to take the action necessary to respond to those challenges that the urgency and the scale that is required.

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PM promises ‘Labor party budget through and through’ – as it happened

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More details on government’s plan to cap international student numbers

The government has released a little more information on its plan to cap international students in a bid to ease housing shortages and clamp down on sub-standard education providers and agents. It will introduce legislation next week which will:

Prevent education providers from owning education agent businesses.

Pause applications for registration from new international education providers and of new courses from existing providers for periods of up to 12 months.

Require new providers seeking registration to demonstrate a track record of quality education delivery to domestic students before they are allowed to recruit international students.

Cancel dormant provider registrations to prevent them being used as a market entry tool by unscrupulous actors.

Prevent providers under serious regulatory investigation from recruiting new international students.

Improve the sharing of data relating to education agents.

[The Coalition will announce its] energy policy not at the time of the media’s choosing or at a time of the government’s choosing but a time of the Coalition’s choosing.

But it will be very clear in advance of the next election the way we want to go about opening up a new energy source for Australia. That will deliver emissions free energy and lower energy prices by increasing the mix of types of energy over the long term.

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Jim Chalmers flags cost of living help for job seekers in federal budget

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‘There is more than one way to help people who are on income support,’ treasurer says when suggesting rebates and concessions could be boosted

The federal government is poised to expand rebates and concessions available to job seekers in next week’s federal budget, which is also expected to increase rent assistance.

The treasurer, Jim Chalmers, has confirmed that Tuesday’s budget will not increase the jobseeker payment but suggested it would boost concessions linked to social security payments, among a suite of measures designed to offer cost-of-living relief without pushing up inflation.

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Budget sneak-peek predicts higher wages and tax breaks – but no increase for Australians on jobseeker

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Government dampens hopes for an increase to jobseeker, despite pressure from economists, social justice groups and equality advocates

Australians are forecast to have more disposable income next year, according to budget predictions, with higher wages, tax cuts and lowering inflation.

But those on unemployment payments are unlikely to see any major change to their financial situations, with the government dampening expectations the base jobseeker rate will increase, despite growing pressure from economists, social justice groups and equality advocates.

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Australia news live: Michele Bullock says data ‘pretty bumpy’ but RBA vigilant about continued high inflation risk

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The opposition leader, Peter Dutton, says the prime minister needs to “pick the phone up” and speak directly to the Chinese president, Xi Jinping, after the Australian government accused a Chinese fighter jet of dropping flares close to an Australian helicopter in international waters.

The defence minister, Richard Marles, yesterday branded the incident as “unacceptable” and said the Australian pilot had to take evasive action to avoid the flares. You can read all the details below:

I think the prime minister needs to pick the phone up, frankly, and speak to the Chinese president … and express our deep concern, because at some stage, there’s going to be a miscalculation and an Australian defence force member is going to lose their life.

And that is a tragic circumstance that has to be avoided at all costs, but there will be a miscalculation by somebody who’s flying that jet or somebody who’s on the deck of a Chinese naval ship, something will happen.

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Chalmers says Labor’s budget will be neither ‘scorched-earth austerity’ nor ‘free-for-all of spending’

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Ministers promise ‘responsible middle path’ and hint at second consecutive surplus but warn some spending deficits will remain

The treasurer, Jim Chalmers, has declared next week’s budget neither the time for “scorched-earth austerity” nor for unrestrained spending as he hints again at a possible second consecutive surplus.

“The budget is in much better nick than the budget that we inherited almost precisely two years ago,” Chalmers said on Monday.

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‘Placement poverty’ to be tackled in Labor budget with new payments for student teachers and nurses

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Midwives and social workers will also be given $320 weekly payment for undertaking mandatory work placements at university

Student teachers, nurses, midwives and social workers will receive a $320 weekly payment during their mandatory placements under a new cost-of-living measure in the May budget.

The Albanese government will establish a commonwealth practical payment for 68,000 university students and 5,000 vocational education and training students undertaking mandatory workplace placements as part of their courses.

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Australia news live: Pauline Hanson ‘plainly targeted’ Greens senator with well-known racist phrase, court told

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Final submissions begin in racial discrimination case brought by Mehreen Faruqi against Hanson. Follow the today’s news live

As we flagged earlier, the treasurer Jim Chalmers will today announce foreign investment changes, with approvals to be made quicker and greater scrutiny to be placed on potential risks.

You can read all the details on this from Peter Hannam below:

Right now, we treat investments from right around the world more or less the same. We want to streamline it for the less-risky investments so we can devote much more time and energy and resources to screening the sorts of investments that we’re seeing in critical industries – like critical minerals, critical infrastructure, critical data, and the like.

This is all about strengthening the foreign investment framework to make sure that investment is in the national interest. We want to maximise the right kind of investment, but we want to minimise risk and that’s what these changes I’ll announce today are all about.

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Labor to fast-track foreign investment to help fund future industrial policy

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Treasurer Jim Chalmers will set a target of 30 days to clear cases as he seeks money for build-to-rent and energy transition

Foreign investment approvals will be made quicker but greater scrutiny will be placed on potential risks as Australia tries to balance economic and security interests, treasury Jim Chalmers will say on Wednesday.

Treasury will set a target to process half of foreign investment cases needing approval within 30 days after from next January, Chalmers will tell the Lowy Institute in Sydney. It will also seek more funds from abroad to support so-called build-to-rent housing ventures and the energy transition off fossil fuels.

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Labor considered altering stage-three tax cuts just after coming to power, FOI battle reveals

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Former federal senator Rex Patrick’s 16-month tussle shows Treasury provided Jim Charmers with a range of policy options

The Albanese government was considering tweaks to stage-three tax cuts as early as one month after being elected, despite repeatedly stating its position hadn’t changed, new documents reveal.

A two-page ministerial submission, released to former senator Rex Patrick after a 16-month freedom of information tussle, shows Treasury officials provided the treasurer, Jim Chalmers, with a breakdown of options to change the stage-three tax cuts, and claw back more revenue, in July 2022.

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Industry to face ‘strict tests’ for public funding to incentivise green energy, Jim Chalmers says

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Treasurer offers more detail on forthcoming Future Made in Australia plan after concerns raised by productivity commissioner

Tax breaks and subsidies may be offered to industry as part of the government’s yet-to-be-detailed Future Made in Australia plan – but Jim Chalmers says there will be “strict tests” on public funding for the green energy strategy.

The treasurer says there must be “generational change” in Australia to match similar major green economy programs being undertaken by other nations including the US.

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Don’t expect a ‘big cash splash’ in this year’s budget, Jim Chalmers tells taxpayers

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Treasurer says falling iron ore prices and a weaker labour market mean the large upgrades to revenue seen in the last two budgets will not be repeated

Australians should not expect a “big cash splash” from this year’s federal budget although the government will bank a smaller share of any increase in expected revenues, the treasurer, Jim Chalmers, told a Sydney audience.

Chalmers said there would likely be “additional cost-of-living help in the budget but it won’t be anywhere near the magnitude of the tax cuts”.

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Second surplus on track for Australia but budget will report a fall in revenue, says treasurer

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Jim Chalmers says slide in iron ore prices and uptick in jobless rate mean budget will report a much smaller revenue upgrade than in recent years

The government remains on track for a second straight surplus but the recent slide in iron ore prices and an uptick in the jobless rate mean the budget will report a much smaller revenue upgrade than in recent years, the federal treasurer, Jim Chalmers, says.

The coming budget, to be released on 14 May, will aim to address slowing economic growth, “persistent cost of living pressures”, and increased global uncertainty, Chalmers will tell a Committee for Economic Development of Australia lunch in Sydney on Thursday.

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Australia ‘horrified’ by Gaza humanitarian catastrophe – as it happened

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Both sides of politics are pulling out all the stops as the Dunkley byelection goes down to the wire.

Speaking on Sunrise this morning, the education minister, Jason Clare, and the deputy opposition leader, Sussan Ley, went head-to-head over a tweet she published last night.

You should delete the tweet… This is a classic example of why women aren’t joining the Liberal party and why they’re not voting for the Liberal party, because of that classic, desperate, grubby political scare campaign we saw from the Liberal party yesterday.

I don’t know, really, you must wake up in the morning, look in the mirror and think, after 25 years of being a member of parliament, is this what I’ve become? I’m reduced to putting out tweets like this?

Anyone who watched question time during this week and saw your hopeless immigration minister unable to demonstrate that he even knows where his criminals [are], what they’re doing, who’s monitoring them and whether the community is safe, would probably not agree with what you’ve just said.

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Greens-Coalition alliance may force Chalmers to keep power to overrule RBA on rates

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Chalmers had announced plans to scrap the veto power but former treasurers and RBA governors say it is a vital ‘safety valve’

An alliance between the Greens and Liberal parties in the Senate could force Jim Chalmers to keep a government power that allows treasurers to overrule Reserve Bank decisions on interest rates.

Chalmers announced plans to scrap the veto power in the government response to recommendations from a panel which reviewed the Reserve Bank operations and made suggestions for improvement.

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Former governors and treasurers advise against removing government’s power to overrule RBA

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Critics of treasurer Jim Chalmers’ proposed reforms say the Reserve Bank is independent enough

Treasurer Jim Chalmers faces an uphill battle to get his Reserve Bank reforms through the parliament – with former treasurers, RBA governors and senior economists criticising key aspects of his legislation.

Chalmers accepted all the recommendations of last year’s RBA review board, including removing the government’s reserve powers to intervene and overrule the central bank if judged necessary, and appoint a second ‘governance’ board of economic academics.

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‘Pressure works’: Greens to stall Labor housing bill in campaign to limit negative gearing

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System is ‘stacked against renters and first-home buyers’ and government must change its position on negative gearing and capital gains tax, Greens say

The Greens are threatening to impede passage of the government’s “help-to-buy” housing scheme, as they seek to force Labor into winding back tax breaks on investment properties.

The treasurer, Jim Chalmers, on Sunday said the government had no plans to change negative gearing, as attention shifted to other areas of tax reform after the government’s amendments to stage-three income tax cuts.

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ACCC to investigate supermarket sector – as it happened

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BoM issues wind weather warning for Tasmania

The Bureau of Meteorology has issued a severe weather warning for damaging winds in parts of Tasmania.

Australia has a very important role to play as a signatory to the ICJ, a signatory to the genocide convention, to ensure the protection of Palestinian civilians and ensure that the investigations that are occurring with UNRWA … don’t inhibit funding and delivery of services that are going to basically save lives in coming days and weeks and months.

UNRWA has done the right thing in standing down the staff, sacking them. They have got an independent investigation occurring. 150 UN UNRWA staff have been killed, their families and children as well, over the past several months of this conflict. The UN is in the middle, sandwiched in the conflict, trying to do its best to save lives. Donor governments like Australia need to bear this in mind that, if funding ceases, there is nowhere else to turn to. People will simply collapse and die.

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New Zealand to be briefed on Aukus – as it happened

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The prime minister, Anthony Albanese, is speaking to ABC RN, and says news that the inflation rate has plunged to a two-year low of 4.1% is “welcoming, encouraging progress”.

… We know that people are still under pressure and we need to not be complacent about it. We need to continue to work as we have with our three point plan, having the surplus, making sure we deal with cost of living pressures without putting pressure on inflation, and dealing with … supply-chain issues as well.

With parliament resuming next week, this is a wake-up call that 2024 is the last chance for meaningful democratic reform ahead of the 2025 election …

Australians should go to the next election with strict political donation disclosure laws, truth in political advertising laws in force and information about who’s meeting ministers made public as a matter of course.

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Australia news live: Townsville residents advised to shelter in place ahead of Cyclone Kirrily reaching Queensland coast

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The latest advice from the Bureau of Meteorology is that Tropical Cyclone Kirrily will begin crossing the coast from 10pm tonight. Follow the day’s news live

As we flagged just earlier, wind gusts associated with Tropical Cyclone Kirrily have already begun around the Whitsundays, with gusts over 100km/h.

In a Facebook group for Whitsundays locals, a new resident has asked an innocent question:

Hey there I’m kind of new to town from Melbourne. Does anyone know how to tie my tree down so that it doesn’t blow away?

“I would use fairy lights.”

“If you hop around clockwise on your left leg 3 times and then do a Kangaroo hop to the right, the drop bears will take care of it by having the tree extend it’s roots deeper.”

“If you’re really from Melbourne you would know how to tie down a tree with the windy crap weather down there. Ride a kangaroo to bunnings [and] get some ratchets.”

“From the state of the supermarket shelves I’m guessing everyone is using toilet paper to tie their trees down.”

“Take the leaves off and store inside. The rest will be fine.”

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