Category Archives: Jim Chalmers (Australian politician)

Labor hints at more controls on energy sector – as it happened

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We will be breaking into the political coverage today to keep you updated on the floods as well:

Overnight, residents of the north west NSW town of Narrabri have been ordered to evacuate due to flooding, with the SES issuing the warnings for the town’s industrial and residential areas.

The rivers are very, very full and, of course, our dams are mostly at full capacity at present. So, even the smallest rainfall can cause an elevated risk of flash flooding and riverine flooding. We will see rivers decline, but the risk is real.

We are bracing for another wet weather system into the state on the weekend.

He is a friend of Australia as the UK is a friend of Australia. We congratulate him on his elevation to the Prime Ministership. The UK, like Australia, has no shortage of challenges and no shortage of economic challenges.

So, we wish Rishi Sunak well. Some of us had the opportunity to work with him briefly when we first came to government. I was able to exchange messages with him when he was unsuccessful in the last leadership ballot. I think it says something about his commitment and his persistence, the way that he conducted himself in the interim. I don’t think it’s insignificant that a country like the United Kingdom has its first Prime Minister of colour.

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Budget deficit to halve this financial year but spending pressures mean boost will be short-lived

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Jim Chalmers’ first budget to reveal $42bn improvement to bottom line across forward estimates but conditions will deteriorate after two years

Soaring commodity prices and a strong labour market will deliver a $42bn boost to the budget bottom line over the next four years, with the deficit more than halving this financial year.

However, the improvement – to be revealed in Jim Chalmers’ first budget on Tuesday night – will be short-lived, with worse-than-expected deficits by the end of the forward estimates as a result of growing spending pressures.

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Politics live: Nationals accuse Labor of regional ‘vendetta’; Chinese state media denounces closer security ties between Australia and Japan

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Albanese government will scrap two Coalition grants programs to set up two new regional programs worth $1bn over next three years. Follow the day’s news live

Gallagher: spending audit is an ‘ongoing piece of work’

And it will continue, Katy Gallagher says:

My view is finance minister is that this is a process that should keep going. We’ve identified obviously, some of that the short term work and that will be reported in the budget.

But this spending audit should should keep going. We should do it in every budget, just to make sure that we’re constantly looking at ways we’re spending money and I think the Australian public would expect us to do that, that it’s not always adding in new spending when there’s … need that arises, and there will be, but we’re looking at existing expenditure as well and how we can reuse that or … realign it with … new investments.

It’s not exclusively infrastructure. We are finding savings across government. We have gone to every single department and ask them to look at their programs to identify programs that don’t need to be done any longer or don’t align with government priorities and where we’ve been able to return some money to the budget we’re doing that.

The other part of it is actually not adding new funding to things but using existing funding to fund some of our our priorities. So it’s been a very useful exercise and I think $22bn is a pretty reasonable figure to have achieved over just, you know, a couple of months in government.

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Australia will join Biden’s global pledge to cut methane emissions by 30% by 2030, Albanese confirms

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Funding of more than $3bn will support agricultural methane reduction, clean tech initiatives and the commercialisation of seaweed feed supplement

The Albanese government has confirmed it will join Joe Biden’s global pledge to cut methane emissions by 30% by 2030, as the prime minister warned climate change is increasing the frequency of Australia’s extreme weather events.

Guardian Australia revealed in June that Labor was considering signing the pledge, and the climate change minister Chris Bowen confirmed on Sunday Australia would be joining more than 100 other countries by making the commitment in the run-up to United Nations-led climate talks in Egypt next month.

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SES urges residents of several NSW areas to evacuate – as it happened

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Flood waters in Victorian border towns reach record levels as residents of several NSW towns are urged to evacuate. This blog is now closed

Taylor: potential inflation decrease ‘a good thing’

Taylor is now discussing inflation and says the Coalition believes inflation will be down to 2.5% in the next financial year according to Labor’s forecasts.

I’ve got to say many of the investments I’ve seen out in regional New South Wales have added to productivity, very significant impact.

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Australia news live: Victoria and Tasmania hit by flooding; NT triple murderer sentenced to life in jail

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Seventy flood warnings in place across Victoria, with 10,000 people without power and 40 schools and childcare centres shut. Follow the day’s news live

‘Walk the talk Labor’: Spender urges government to help households decarbonise

Independent MP Allegra Spender has taken to social media to urge the Albanese government to take action supporting Australian households as they decarbonise:

Our families and businesses are hurting. Sovereign risk is not a defence when the super profits are being made because of a war.

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Lidia Thorpe to lodge press council complaint over voice report; attorney general says pursuit of Assange has ‘gone on long enough’ – as it happened

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Mark Dreyfus says most anti-corruption hearings will be private and only public in exceptional circumstances. This blog is now closed

US security expert says chances of Putin using nuclear weapon are “small”

During his visit to Canberra, the chief executive of the Washington-based thinktank the Center for a New American Security, Richard Fontaine, weighed in on the US president, Joe Biden’s recent comments that the world could face “Armageddon” if Russia’s Vladimir Putin uses a tactical nuclear weapon to try to win the war in Ukraine.

I seriously doubt that anybody handed the president a set of written talking points that had the word Armageddon on it. On the other hand, there is very grave concern about the rattling of the nuclear sabre, because the chances, I think, of Russia using even a tactical nuclear weapon are small, but they’re higher than they were. And they’re probably higher than any time since 1962 with the [Cuban] missile crisis.

The use of nuclear weapons is one of these low probability, extremely high consequence events. So even if the probability is relatively small, the consequences would be so grave. If they were to do this, we would wake up in a different world the next day.

Yes, absolutely. Every country really has a dog in this fight, because what we’re talking about here is a violation of the fundamental rules of international order, the cardinal element of which is the prohibition against territorial conquest by force. And that’s exactly what we’re seeing here.

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

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

Support for the stage three tax cuts remains low with the majority of Australians backing sound economic management over sticking to election promises, a new survey suggests.

The research from the Australia Institute found that high-income earners were particularly likely to support the repeal of the stage three tax cuts, despite being the main beneficiaries of the changes.

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Consumer watchdog will crack down on petrol price gouging when tax cut ends, Labor says

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Federal government also confirms pension and jobseeker will rise 4% in line with consumer price index, as parliament returns

The federal treasurer, Jim Chalmers, has asked the competition watchdog to crack down hard on any price gouging when the petrol excise cut expires at the end of September.

The letter to the Australian Competition and Consumer Commission, released on Monday, confirms the government’s intention to reintroduce “the full excise” on 29 September. It was halved for six months in the March budget.

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Labor to relax work tests for pensioners following jobs and skills summit – as it happened

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Treasurer Jim Chalmers says the policy change will cost around $55m, and the government will do further costs. This blog is now closed

Tasmanian Tafe needs to be fit for purpose before additional places can make a difference, Lambie says

The government yesterday kicked off the jobs and skills summit with the announcement of 180,000 more free Tafe places.

We certainly would like to do more, but some of these issues, of course, are within the budget constraints, which are there … we have inherited $1tn of debt. Yes, it is a worthy idea and worthy of consideration.

No, that’s not on the agenda. But it is a good thing that people are able to put forward ideas.

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Australia’s jobs and skills summit: who’s going and what’s on the agenda?

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Labor hopes together business, unions and the community sector will be able to find ways to lift wages, spur productivity and ease skills shortages

Lifting wages, productivity and easing skills shortages are top of the agenda at Thursday and Friday’s jobs and skills summit.

Here’s everything you need to know about the event.

Maintaining full employment and growing productivity

Equal opportunities and pay for women

Sustainable wage growth and the future of bargaining

Mega-trends driving our current and future skills needs

Workforce opportunities from clean energy and tackling climate change

Skills and training

Migration

Workforce participation

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Australia politics live: Monique Ryan tells Coalition ‘put your masks on’ in question time; Greens say RBA interest rate hikes won’t solve inflation

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The housing minister, Julie Collins, says Australia’s rate of homelessness is “unacceptable”, as she promises a greater leadership role from the federal government in the sector.

Australia today marks the beginning of Homelessness Week, with social agencies calling on governments nationwide to do more to address housing and rental affordability, as well as the underlying factors contributing to homelessness.

Our reforms aim to ensure every Australian has access to safe and affordable housing to improve social and economic outcomes for all Australians, including those at risk of, or experiencing, homelessness,” she said on Monday.

According to the 2016 Census, in Australia there are over 116,000 people experiencing homelessness, and this figure is unacceptable.”

We all need to be heading in the same direction.

We need to be ambitious ... we all need to be working together to solve the housing affordability issues we have.

What’s happened is the states and territories have been doing their own thing and I don’t think there’s been enough national leadership.

In its gas inquiry 2017-2025 interim report released on Monday, the Australian Competition and Consumer Commission (ACCC) said the east coast gas market is facing a gas shortfall of 56 petajoules in 2023.

This gap is about 10% of annual domestic demand, ‘signifying a substantial risk to Australia’s energy security’, the report says.

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Jim Chalmers to cut economic growth estimates amid inflation ‘headwinds’

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Treasurer will use state of the economy speech to trim 2021-22 growth to 3.75% and provide new inflation, wage and unemployment forecasts

The federal treasurer, Jim Chalmers, will use the state of the economy speech to trim the national growth estimates, citing global economic “headwinds”.

“[T]he headwinds our economy is facing – higher inflation at the top of that list, along with slowing global growth – are now reflected in the revised economic outcomes and forecasts,” Chalmers will tell parliament on Thursday according to an excerpt of his speech.

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Despite Australia’s soaring inflation rate, some economists say the peak may be ‘coming into view’

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Analysis: Inflation optimists look to falling global supply chain pressures but spiking energy prices suggest we haven’t reached a plateau yet

Some economists have tipped that the inflation rate has started to plateau, even after the Australian consumer price index on Wednesday showed the fastest annual pace of inflation since 2001.

Australian prices rose 6.1% in the June quarter, the quickest pace in 21 years. Yet even in that dire news from the Australian Bureau of Statistics, some economists were able to spy a silver lining.

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Guardian Essential poll: 40% of voters say Labor doing poor job tackling surging cost of living

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Half of voters surveyed say they can afford household bills but struggle to find anything extra or report feeling under financial pressure

Just one-quarter of voters think Labor is doing a good job of handling surging cost of living pressures, the latest Guardian Essential poll suggests, while a majority of respondents believe the Albanese government can influence the direction of inflation and interest rates.

The results from the latest survey of 1,082 respondents comes ahead of Wednesday’s inflation data which is expected to show consumer prices are running at their highest level since the 1990s.

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Australia news live updates: Greens aim to ‘improve and pass’ Labor climate bill; Andrews rules out mask mandates as nation records 90 Covid deaths;

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No change in Operation Sovereign Borders policy

Clare O’Neil is asked about the desperate situation in Sri Lanka, where many people are trying to find a way out.

Operation Sovereign Borders is Australian government policy.

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Nobel prize-winning economist Joseph Stiglitz calls for windfall profits tax in Australia

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Tax is a ‘no-brainer’ after companies’ huge profits during Covid but corporate influence makes it ‘politically difficult’, Stiglitz says

The Nobel prize-winning economist Joseph Stiglitz has called for a windfall profits tax, arguing the idea is a “no-brainer” that has been taken off the table due to the influence of big companies.

Stiglitz made the comments to reporters during a tour of Australia after personally lobbying the treasurer, Jim Chalmers, to introduce the tax and warning that excessive interest rate rises could push Europe, the US, and then Australia into recession.

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Australia news live; treasurer says fuel excise cut ‘too expensive to continue’; Denis Napthine resigns as NDIA chair; 31 Covid deaths

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Gorgeous images coming through from Tasmania where snow has fallen this morning.

NSW premier Dominic Perrottet is on ABC Radio following the national cabinet meeting which has seen emergency isolation payments reinstated.

If the state is taking away people’s liberty, then the state has an obligation to provide financial support.

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Jim Chalmers warns of ‘confronting’ inflation and wages forecast in July economic update

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Treasurer says rising interest rates will affect economic growth but Labor has plans to provide cost-of-living support

Australia’s July economic update will contain “confronting” news about lower growth projections and higher inflation cutting real wages, Jim Chalmers has said.

The treasurer said the update to be delivered on Thursday 28 July comes as the global economy is in a “difficult if not dangerous place” due to high debt and rising interest rises to combat inflation.

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Jim Chalmers defends delay in reinstating Covid leave payments as cases rise

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The $750 payment for those who need to isolate due to Covid has been extended through September, following pressure on the government

Reinstating Covid-19 isolation payments was a necessary move in the wake of rising cases despite criticism the government was slow in doing so, according to the treasurer, Jim Chalmers.

With infections continuing to increase, a decision was made on Saturday to restore the leave pay measure until the end of September.

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