Treasurer Jim Chalmers plays down recession fears on Q+A as energy costs and inflation continue to rise
2 years, 4 months ago

Treasurer Jim Chalmers plays down recession fears on Q+A as energy costs and inflation continue to rise

ABC  

Treasurer Jim Chalmers has told ABC's Q+A he does not believe Australia is headed for its a recession, despite a worsening global economic outlook. Key points: Jim Chalmers said he hopes to introduce regulations to stem the rising cost of energy by Christmas The Treasurer said Australia becoming a republic is on the agenda Mr Chalmers said he does not believe Australia will enter a recession The Treasurer appeared opposite host Stan Grant as the only guest on Thursday night and was questioned about the lack of help the budget offered to Australians struggling with the soaring cost of living as inflation and interest rates rise. One audience member said they had just paid a $1,600 energy bill and, when asked if it would get worse, Mr Chalmers said yes before citing Russia's invasion of Ukraine as a reason. Mr Chalmers also said that the government was considering price caps in the energy market before being asked if Labor would still honour their election promise of a $275 reduction in power prices.

Energy Australia Interest Rates Parliament Treasurer Chalmers Recession Mr Chalmers Jim Chalmers  rates  jim  plays  treasurer  recession  global  australia  chalmers  asked  qa  costs  voice  energy  mr  interest  inflation  fears  rise

History of this topic

Chalmers declares worst of inflation battle 'well and truly behind us'
1 month, 3 weeks ago

Chalmers declares worst of inflation battle 'well and truly behind us'

ABC  

Jim Chalmers would make a lousy poker player. Despite a senior cabinet minister admitting privately to this writer that Labor can ill-afford wanton displays of hubris at the prospect of looming interest rate relief — after all, too many households are still in pain — the treasurer struggled to contain his glee over Wednesday's inflation data. Like a man settling …

Treasurer Jim Chalmers all smiles as he says 'worst of inflation challenge' behind us — as it happened
1 month, 3 weeks ago

Treasurer Jim Chalmers all smiles as he says 'worst of inflation challenge' behind us — as it happened

ABC  

There's no doubting it: this is a good inflation number, and that's good news for the federal government. Inflation on the Reserve Bank's preferred measure is now very close to its target range, and a cut may not be assured, but it's definitely on the table, either at the February meeting or in April. But he also boasted Australia will …

PM condemns anti-Israel vandalism
4 months ago

PM condemns anti-Israel vandalism

ABC  

Sally Sara: Hello and welcome to The World Today, it is Thursday the 21st of November. Peter Ryan: Well Sally, Jim Chalmers, he's been really batting away questions that the future fund shake up, a changed mandate and the first statement of expectations in 15 years amounts to political interference that future governments could be tempted to raid the fund …

Treasurer Jim Chalmers says government has work to do on cost of living measures
4 months, 2 weeks ago

Treasurer Jim Chalmers says government has work to do on cost of living measures

ABC  

Treasurer Jim Chalmers says the government knows there is still a lot of ground to make up when it comes to cost of living relief for Australians despite having released a raft of packages to ease the burden of inflation. Mr Chalmers's admission on 7.30 came one day after Opposition Leader Peter Dutton borrowed a line from US president-elect Donald …

Jim Chalmers tries to shut down shocking accusation about negative gearing leak with eight defiant words
5 months, 3 weeks ago

Jim Chalmers tries to shut down shocking accusation about negative gearing leak with eight defiant words

Daily Mail  

Treasurer Jim Chalmers has celebrated a second consecutive Budget surplus and dismissed a Labor insider's claims of a deliberate leak against Anthony Albanese as 'not really worth getting too worried about it'. The Treasurer's announcement comes after Cameron Milner, who was chief-of-staff to former Labor leader Bill Shorten, suggested Dr Chalmers had last week deliberately timed a review into negative …

PETER VAN ONSELEN: Australia's economy is far from flourishing. So what does Jim Chalmers do? Blame someone else much more qualified than himself, of course
6 months, 3 weeks ago

PETER VAN ONSELEN: Australia's economy is far from flourishing. So what does Jim Chalmers do? Blame someone else much more qualified than himself, of course

Daily Mail  

The late American political satirist PJ O'Rourke once said that blaming central banks for high interest rates is like blaming your bathroom scales for putting on weight. That's exactly what Treasurer Jim Chalmers did last night when he accused the Reserve Bank of Australia of 'smashing' the economy with its interest rates strategy. Treasurer Jim Chalmers attacks the RBA for …

Jim Chalmers blames interest rate rises for 'smashing' the economy, expects weak economic growth
6 months, 3 weeks ago

Jim Chalmers blames interest rate rises for 'smashing' the economy, expects weak economic growth

ABC  

Treasurer Jim Chalmers has blamed successive interest rate rises for "smashing the economy", as the government braces for more weak economic figures due this week. Ahead of the release of the latest economic growth figures on Wednesday, Mr Chalmers said the government was focused on walking the tightrope of bringing down inflation without further pressuring people "already being hammered by …

PETER VAN ONSELEN: Jim Chalmers' excuses for Australia's inflation crisis spectacularly unravel - with two key stats easily blowing apart the garbage Treasurer is peddling
7 months, 3 weeks ago

PETER VAN ONSELEN: Jim Chalmers' excuses for Australia's inflation crisis spectacularly unravel - with two key stats easily blowing apart the garbage Treasurer is peddling

Daily Mail  

Treasurer Jim Chalmers wants you to believe that rising inflation isn't his fault. Under pressure: Jim Chalmers' excuses for Australia's 'sticky' inflation crisis are unravelling He wants you to focus on the fact inflation is lower now than when Labor came to power. In other words Australia's rising inflation - a quarterly adjusted figure of 3.8 per cent - is …

Treasurer defends budget to own constituents demanding more cost-of-living relief
10 months ago

Treasurer defends budget to own constituents demanding more cost-of-living relief

ABC  

In short: Jim Chalmers told an audience of constituents on Q+A that cost-of-living measures in the budget would help disadvantaged Australians. Jim Chalmers told an audience of constituents on Q+A that cost-of-living measures in the budget would help disadvantaged Australians. "One of the things that I'm proudest of in the last couple of budgets is the way we've invested billions …

Federal budgets are always a balancing act, but can Jim Chalmers keep the economy afloat and inflation at bay?
10 months, 1 week ago

Federal budgets are always a balancing act, but can Jim Chalmers keep the economy afloat and inflation at bay?

ABC  

Federal budgets have always been a juggling act, an attempt at trying to balance competing interests. Budget forecasts faster inflation drop than expected by RBA Photo shows Katy Gallagher and Jim Chalmers walk on the grass on top of Parliament House The outlook for Australia's economic growth is worsening and inflation forecasts remain uncertain as the federal government battles to …

Federal Budget 2024 LIVE updates: Treasurer Jim Chalmers has delivered the Budget he hopes will serve up election victory - here's everything you need to know
10 months, 1 week ago

Federal Budget 2024 LIVE updates: Treasurer Jim Chalmers has delivered the Budget he hopes will serve up election victory - here's everything you need to know

Daily Mail  

Treasurer Jim Chalmers' Budget, set to be handed down at 7.30pm, will either make or break Labor chances of being re-elected next year. Ahead of Tuesday night's Budget, Labor has revealed Treasury is now very optimistically expecting inflation to fall back within the Reserve Bank's 2 to 3 per cent target by December 2024 - a year earlier than the …

Why Jim Chalmers can't stop smiling about his Budget update because of an 'invisible' cost YOU are getting stung with - and it's not interest rates
1 year, 3 months ago

Why Jim Chalmers can't stop smiling about his Budget update because of an 'invisible' cost YOU are getting stung with - and it's not interest rates

Daily Mail  

Labor is close to delivering its first consecutive Budget surpluses since the late 1980s - thanks to the axing of tax relief during a cost of living crisis. A second consecutive surplus would make him the first Labor treasurer since Paul Keating in the late 1980s to achieve this feat A second consecutive surplus is a feat Labor hasn't achieved …

Treasurer Jim Chalmers concedes Australia risks missing its climate targets
1 year, 4 months ago

Treasurer Jim Chalmers concedes Australia risks missing its climate targets

ABC  

Federal Treasurer Jim Chalmers has acknowledged Australia is behind in efforts to meet climate targets, signalling a need for more public and private investment to catch up. Key points: Australia appears unlikely to meet its 2030 climate targets on its current trajectory The federal treasurer has acknowledged Australia is behind on its renewables targets He has signalled more investment in …

Did Treasurer Jim Chalmers keep his facts straight in this week's budget speech?
1 year, 10 months ago

Did Treasurer Jim Chalmers keep his facts straight in this week's budget speech?

ABC  

Treasurer Jim Chalmers delivered the Albanese government's second budget earlier this week, balancing cost-of-living relief against the need to rein in inflation. And the Australian Bureau of Statistics' wage price index shows that 2012 was indeed the last time wages experienced similar growth, when it recorded a 3.8 per cent increase. And while Treasury's forecasts have a history of being …

Jim Chalmers's budget surplus was a surprise so where has the money come from?
1 year, 10 months ago

Jim Chalmers's budget surplus was a surprise so where has the money come from?

ABC  

It has been billed as the turnaround of the century. Suddenly, that's magically transformed into a $4.2 billion surplus for this financial year, the first time we've seen federal budget black ink since 2008, when Treasurer Jim Chalmers was then-treasurer Wayne Swan's brains trust. If you can believe the forecasts — and let's face it, just a few months back …

Treasurer Jim Chalmers insists nation's most vulnerable will be supported in federal budget
1 year, 10 months ago

Treasurer Jim Chalmers insists nation's most vulnerable will be supported in federal budget

ABC  

Some of the nation's most vulnerable people will be the recipients of cost of living support in next week's federal budget, as the government seeks to support Australians doing it tough amid soaring inflation. Key points: The treasurer says the budget will include $112 billion in debt interest payments over the next four years He says the government is contending …

Treasurer Jim Chalmers reveals workers' pay will go backwards until 2024-25 ahead of federal budget announcement
2 years, 5 months ago

Treasurer Jim Chalmers reveals workers' pay will go backwards until 2024-25 ahead of federal budget announcement

ABC  

Treasurer Jim Chalmers says his first budget will be "family-friendly" but has conceded that wage growth is not expected to match the rising cost of living until the year after next at the earliest. Key points: Inflation is expected to reach 7.75 per cent in December Treasurer Jim Chalmers says it is the "primary influence" on the latest federal budget, …

Jim Chalmers faces problems with spending, revenue and wellbeing in his first budget
2 years, 5 months ago

Jim Chalmers faces problems with spending, revenue and wellbeing in his first budget

ABC  

After a brief flirtation with pruning stage 3 tax cuts, Jim Chalmers has reverted this week to playing down expectations for his first budget. Ahead of delivering his first budget next Tuesday, Jim Chalmers has given himself room to do the things a treasurer needs to do — including cancelling decisions in his predecessor's budget. More spending is also unavoidable …

Australia needs an honest conversation about tax and budgets – and Jim Chalmers is ready to talk
2 years, 5 months ago

Australia needs an honest conversation about tax and budgets – and Jim Chalmers is ready to talk

ABC  

Jim Chalmers is a wily operator. COVID changed everything – except the tax cap Just about every fairly foreseeable crisis couldn't be responded to, if the assumptions in the 2019 budget were to be believed. A separate "tax cap" set out in the budget said the government would never collect more than an arbitrarily chosen 23.9 per cent of GDP. …

Treasurer Jim Chalmers warns of global economy's 'perilous path' ahead of federal budget
2 years, 5 months ago

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

ABC  

Australia's economic outlook faces downgrades in the Albanese Government's first budget next week, with Treasurer Jim Chalmers cautioning the global economy is treading an "increasingly perilous path". Key points: Treasurer Jim Chalmers says Australia "will not be spared from the consequences of a global slowdown" The government is expected to make spending announcements this week before next Tuesday's budget The …

Can Jim Chalmers become a reforming treasurer?
2 years, 6 months ago

Can Jim Chalmers become a reforming treasurer?

ABC  

Jim Chalmers's long-term ambition is similar to that of most treasurers. 'Bread and butter' budget Chalmers highlighted that five big spending areas — health, the National Disability Insurance Scheme, aged care, defence, and servicing the large public debt — were creating "substantial structural concerns". After this "standard" budget "there are multiple opportunities in multiple budgets over the course of the …

Jim Chalmers paints a bleak economic picture, with inflation to spike and GDP to fall. Can he hold the public's trust?
2 years, 7 months ago

Jim Chalmers paints a bleak economic picture, with inflation to spike and GDP to fall. Can he hold the public's trust?

ABC  

Jim Chalmers delivers bad economic news well, which is a good thing because there's a great deal of it about, with a lot more to come. After Wednesday's release of the 6.1 per cent inflation figure, he told a news conference: "A lot of people are living pay cheque to pay cheque for whom this inflation will be devastating because …

Treasurer concedes coronavirus economic figures 'sobering' as Australia faces largest deficit in history
4 years, 10 months ago

Treasurer concedes coronavirus economic figures 'sobering' as Australia faces largest deficit in history

ABC  

The Federal Treasurer has outlined what he has dubbed a "sobering" economic outlook on a day when he had long hoped to deliver Australia's first budget surplus in more than a decade. Key points: The Federal Budget was due to be released on Tuesday but was delayed because of coronavirus Last year, the Government pledged it would deliver a surplus …

Discover Related