Category Archives: Jim Chalmers (Australian politician)

Australia news live: RBA interest rates decision a ‘wake-up call’ for Labor, Angus Taylor says

Posted on by

Follow the latest news live

Chalmers promises ‘substantial cost-of-living relief’ for most vulnerable

Asked if the age of 55 is the distinction Jim Chalmers thinks should be made on jobseeker, the treasurer says:

The reason I’m using 55 is because the reports that we received women’s economic equality taskforce and the economic inclusion advisory committee, which has been, in welcome ways, discussed quite a lot on your program, say that women over 55 are the most vulnerable group amongst unemployed Australians.

We’ve indicated before that we want to do something to help them in particular, but again, without pre-empting what’s in the budget in a week’s time, there will be a number of elements to our cost-of-living relief. Not all of them will be determined by age. For example, our energy bill relief plan, which will be in the budget in a week’s time, is for people on pensions and payments right across the board, not limited by age.

Will you increase jobseeker for people aged over 55?

There will be responsible cost-of-living relief in the budget, and it will focus on the most vulnerable people. There will be a number of elements to it. It won’t all be limited to one cohort or another. But it will all be made clear in the budget.

First of all, the jobseeker payment already makes a distinction between workers closer to the age pension, older workers, it already pays a different rate at the moment for people over 60. And that’s in recognition that it is harder to find a new job at that end of your working life. That’s the first point.

The second point is related. All of the expert advice a lot of the analysis I’ve heard it on your show, and it’s been right, says that the group that’s most likely to be long-term unemployed – people over 55 – that that group is dominated by women that the most vulnerable part of the unemployed population in Australia is at the moment women over 55. And so that’s another issue that people need to factor in.

Continue reading...

Labor MPs condemn ‘discriminatory’ plan to increase jobseeker only for those over 55 in budget

Posted on by

Concerns growing that any changes to rental assistance will also fall along generational divides

Labor MPs who have advocated for an increase in the jobseeker base rate were mostly unimpressed by the prospect of their government limiting the raise to those aged over 55 in the upcoming federal budget.

Concerns are also growing that any changes to commonwealth rental assistance will also fall along generational divides and be lower than what is needed to meet the rising cost of housing, with a 25% increase firming as the likely figure, when advocates had called for 50%.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...

Labor announces payday super to crack down on billions in unpaid funds each year

Posted on by

The measure will deliver a ‘more dignified retirement to more Australian workers’, treasurer Jim Chalmers says

Employers will be required to pay superannuation on payday, rather than quarterly, under reforms aimed at cracking down on the scourge of more than $3bn of super that goes unpaid each year.

The measure, announced by the treasurer, Jim Chalmers, and financial services minister, Stephen Jones, will take effect in July 2026, giving businesses three years to prepare.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...

Small businesses offered tax breaks for going green in federal budget – as it happened

Posted on by

This blog is now closed

Marles on Australians caught in Sudan conflict

Asked about Australians caught in Sudan and the conflict there, Richard Marles says “there are still options out of Port Sudan which is on the Red Sea, which is, I think it’s about 800km out of Khartoum” to leave “what is obviously a deteriorating situation”:

There are ferries there and there may be other options coming out of that. I mean, the important thing is this – Australians in Sudan, and there do remain a number of Australians in Sudan, really need to make sure that they register.

We will continue to work with friends and allies and do everything that we can within our power to provide options for Australians who want to leave. Because we understand how difficult this situation is now.

Ultimately, our ambition is to establish a production line with companies in this country which would provide for the manufacture of those long-range strike missiles and doing as much of that as possible in the next couple of years. We hope that we can begin with the assembly of the strike missiles that go in the Himars system. But we want to build on that so that we’re actually manufacturing the full suite of these weapons in Australia.

Continue reading...

News live: clock ticking as US coast guard scours ocean for missing Australian cruise passenger

Posted on by

Coast guard say passenger went overboard 500 nautical miles (926 kilometres) from Hawaii’s Big Island. Follow live

The US coast guard has confirmed that an Australian man fell overboard on the Quantum of the Seas cruise ship, which was travelling from Brisbane to Hawaii.

The coast guard said the passenger went overboard 500 nautical miles (926 kilometres) from Hawaii’s Big Island.

500 nautical miles south of Hawaii’s Big Island a man fell overboard on Quantum of the Seas cruise ship. He is an Australian national.

A Hercules airplane is on scene conducting a search. At the moment it is the only asset that’s on scene searching.

We’ve been on scene since 9am. And with the crew’s endurance and the fuel constraints of the vessel they should be there for about six hours since arriving on scene.

What I can confirm is the budget will have a cost of living package that is targeted to the most vulnerable. We’ve been clear about that. Obviously some of that is the assistance and support on energy relief. We’ve had the announcements around medicines in the last day.

We are focused on making sure we can do the right thing for those that are doing it tough, but within an environment where there are a lot of demands on the budget in a lot of areas.

Continue reading...

Jim Chalmers promises cost-of-living relief in budget but won’t commit to raising jobseeker

Posted on by

Treasurer says government’s focus remains on jobs as CEO of Acoss says increasing unemployment benefit still a ‘live debate’

The treasurer, Jim Chalmers, says there will be cost-of-living relief in the budget and the government will “prioritise the most vulnerable” but has still refused to commit to raising the jobseeker rate.

Labor backbenchers have broken ranks to publicly call on the government to adopt the first priority recommendation of the economic inclusion advisory committee and “substantially” raise the unemployment benefit.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...

Advice on voice a ‘cynical political tactic’ to confuse voters, Coalition claims – as it happened

Posted on by

This blog is now closed

Ed Husic says board appointments alone won’t guarantee RBA diversity

The ministry for industry, Ed Husic, says he believes new appointments to the RBA board alone isn’t enough to bring diversity to the central bank – he says there need to be “deeper structures” put in place.

As a government, I can give you this assurance. We do like to take into account people’s views from different vantage points. I do think it is important that where decisions have an impact – not just in terms of investors or industry but the people that work in them or the broader community – I think it’s a healthier decision …

Some people will fix on ‘well, someone should have a seat at the board’ for that to occur and I understand why they’ll make those arguments. I’m not necessarily convinced that that specifically guarantees that will occur, just having one person on the board. There need to be a lot deeper structures for people to have that sense that they’ve had a say and that they can have an ability to influence and inform decision making.

Continue reading...

RBA to have separate rate-setting panel, but inflation target expected to remain

Posted on by

First full review for decades recommends raft of changes, including splitting the board into two to enable more focus on how interest rates are decided

Australia’s Reserve Bank board will be split between a special panel to handle interest rates and one dealing with currency issuance and other tasks, as recommended by the first formal review of the central bank since the 1990s.

Treasurer Jim Chalmers is expected to release the full review report, titled “An RBA fit for the future”, on Thursday. He said he would work “across the parliament and with the RBA” to implement in principle all 51 of the review’s recommendations.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...

State treasurers propose targeting men to work in care sector to boost productivity

Posted on by

Board of treasurers’ submission to employment white paper taskforce suggests making training flexible and promoting regional jobs

Targeting men to work in the child, aged and disability care sectors is one idea proposed by the state treasurers to boost productivity, challenge gender stereotypes and address workforce shortages.

The treasurer, Jim Chalmers, will release more than 400 submissions made to the employment white paper taskforce on Saturday.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Addressing gender stereotypes, workforce shortages and productivity in the care sector by targeting mid-career men for retraining and upskilling.

Making training for the job you want (as opposed to the job you have) tax deductible.

Providing incentives for employers to hire employees from underrepresented cohorts.

Creating pathways for First Nations people to work on major regional projects.

Exploring incentives for university graduates and highly skilled migrants to work in regional areas.

Continue reading...

Laura Tingle becomes ABC staff-elected director – as it happened

Posted on by

The 7.30 political correspondent will sit on the broadcaster’s board alongside chair Ita Buttrose. This blog is now closed

Report of new gas tax for Australia

The Australian Financial Review is this morning reporting that a new gas tax looms as the government tries to raise revenue to begin budget repair.

Major companies such as Woodside Energy, Santos and Shell and their tax advisers have signed confidentiality agreements with Treasury on the PRRT consultation.

Since Treasury resumed the stalled work for Labor late last year, it has cast the net wider to probe other PRRT areas, such as deductions, in an attempt to raise revenue sooner for the government from the profits-based tax.

Continue reading...

Coalition’s super changes will affect three times as many people as Labor’s plan, modelling shows

Posted on by

Jim Chalmers says figures based on Treasury projections reveals opposition’s ‘deception’

The Coalition’s superannuation changes will affect three times as many people as Labor’s new package over the long term, according to figures compiled by the Albanese government.

The treasurer, Jim Chalmers, said the figures showed “the Coalition’s dishonesty, deception and double standards” ahead of the resumption of parliament on Monday.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...

Workers face longer hours for less pay without productivity boost, Jim Chalmers says

Posted on by

Treasurer says Australia must improve service delivery in the care sector to offset ‘woeful’ economic indicators

The treasurer, Jim Chalmers, says Australians’ incomes will fall and the working week will get longer without major boosts to productivity, saying the nation must boost service delivery in the care sector to offset some “woeful” economic indicators.

Ahead of releasing the Productivity Commission’s five-yearly report on Friday, Chalmers again downplayed the prospect of major cost-of-living relief in the May budget, but said it would be soon become a focus for the government.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...

ABC staff to walk off job next week – as it happened

Posted on by

This blog is now closed.

Acting prime minister and defence minister Richard Marles has spoken to ABC News Breakfast this morning after the $368bn announcement of the Aukus deal yesterday.

In response to the reaction from China accusing Australia, the US and Britain of embarking on a “path of error and danger”, Marles defends making a decision that is in Australia’s national interest:

We are seeking to acquire this capability to make our contribution to the collective security of the region and the maintenance of the global rules-based order.

And one of the issues within our region we are witnessing the largest conventional military build-up that the world has seen since the end of the second world war. And it’s not Australia who is doing that, but that shapes the world in which we live.

We’re completely confident these are in complete compliance with non proliferation.

Continue reading...

Sydney trains delayed due to ‘communication issue’ – as it happened

Posted on by

This blog is now closed.

Facing up to financial distress

It is not just academic though – there have been increased reports of people feeling distressed because of financial pressures.

When people are under extreme financial pressure, that has implications for their wellbeing more broadly. I mean, I think that is understood. And I’m sure that the governor in accepting that meeting understands that.

What we want to do as government is make life a little bit easier for people where we can, whether it’s with energy bills, whether it’s with cheaper early childhood education, cheaper medicines, trying to get wages moving again, financial security is a big part of what we’re focused on, particularly when these cost-of-living pressures are so acute.

Continue reading...

Almost 40% of superannuation tax concessions flow to top 10% of earners, tax statement shows

Posted on by

Treasurer Jim Chalmers says analysis will ‘help increase public awareness and inform debate about the fairness and efficiency of the tax system’

Superannuation tax concessions are costing the budget $50bn a year, with almost 40% of the benefit of tax breaks on earnings flowing to the top 10% of income earners.

That is one of the central findings of the tax expenditures and income statement, released by the treasurer, Jim Chalmers, on Tuesday.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...

Liberal MPs break ranks to back Jim Chalmers’ discussion on superannuation reform

Posted on by

Angus Taylor says Coalition will fight any changes but Tasmanian MP Bridget Archer says we should not ‘shy away from having a conversation’

Liberal moderates Russell Broadbent and Bridget Archer have broken ranks and endorsed the treasurer’s efforts to start a conversation about the fiscal sustainability of generous superannuation tax concessions.

Broadbent told the ABC on Monday it was unclear exactly what changes were being proposed but if the mooted overhaul was “fair and reasonable” then the Coalition should not stand in the way.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...

Treasurer asks Australians ‘whether we can afford’ tax breaks on biggest superannuation balances

Posted on by

Jim Chalmers defends potential change to super rules for balances over $3m as Coalition vows to oppose it

The treasurer, Jim Chalmers, has defended potential superannuation changes, asking Australians to consider “whether we can afford” to keep giving large tax concessions to the small number of wealthy people with multimillion dollar balances.

While insisting the Albanese government had made no firm decisions yet, Chalmers claimed it was “not especially controversial” to re-evaluate how tax concessions flowed to people with the highest super balances.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...

Teal MPs say capping superannuation at $3m might undermine confidence in saving for retirement

Posted on by

Despite this pushback, most crossbench MPs remain open to debate, and several independent senators have spoken in favour of curbing some super tax concessions to help budget repair

Independent MPs including Kylea Tink, Zoe Daniel and Zali Steggall have said that capping superannuation balances at $3m may undermine the confidence of people saving for retirement.

The teals have joined the Coalition in warning against capping, which appears to be the most likely measure to implement Labor’s objective for super to be “sustainable and equitable”, saying the government should look to raise revenue elsewhere, including company profits and tax evasion.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...

Medibank records profit rise despite data breach – as it happened

Posted on by

This blog is now closed

Husic refuses to comment on crossbench negotiations over coal and gas

Moving on from science and industry, Ed Husic is asked if the approval for Santos to expand its Queensland gas field has killed off the government’s negotiations with the Greens over the national reconstruction fund (which Husic has carriage of) and safeguards (where there is a little crossover with Husic, because of manufacturing).

I’m very grateful for their engagement, all the engagement from the crossbenchers, and I’ve sought to make myself as available as I possibly can to work through issues some stuff we agree on some stuff we don’t I would love to go into the ins and outs of it, but I’d rather private negotiations sort themselves out because they will obviously be made public very soon and people that rightly expect that to happen.

But, you know, I am grateful that some of those points that are raised because from our point of view, and I think you heard in the PM’s speech yesterday – we take a view as a government that we’re not the holders of all knowledge, that we do accept, accept and expect people to provide their input so that we can build a better outcome.

I think what we’ve tried to do as a government is say we’re going to make decisions in the way that they’re supposed to.

We don’t want decisions to be politicised. We want them to be done a national interest and there’ll be pathways to making decisions that will be quite separate. So the big thing coming to your question, the answer I would, I would give you is they’re separate things.

I want them [the public] to answer that question.

I want them to guide us in the way in which we shape research priorities into the future. The last time that we actually updated these national science and research priorities was in 2015, back when Malcolm Turnbull took over as prime minister, a lot has happened since then.

Continue reading...

Jim Chalmers confident Australia will avoid recession despite warnings of more interest rate rises

Posted on by

The treasurer also noted ‘very encouraging’ signs on power prices falling, saying Labor’s energy price relief package was working

The treasurer Jim Chalmers says there are “very encouraging” signs on power prices falling and is still confident Australia will avoid a recession despite continuing interest rate rises.

Last week in its first meeting for the year, the Reserve Bank increased the cash rate for the ninth time in a row to 3.35% and warned it was considering even more interest rate rises in coming months.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...