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Articles for Jim Chalmers, search results for financial

Reserve Bank boss Michele Bullock mocks Treasurer Jim Chalmers with three cutting words
3 months ago

Reserve Bank boss Michele Bullock mocks Treasurer Jim Chalmers with three cutting words

Daily Mail  

Reserve Bank chief Michele Bullock has openly mocked Treasurer Jim Chalmers by suggesting she could hypothetically 'smash the economy' with more rate rises. But Ms Bullock has weaponised Dr Chalmers's critique of the most aggressive rate rises in a generation, just three weeks after the Treasurer accused the Reserve Bank of 'smashing the economy'. Reserve Bank chief Michele Bullock told …

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Labor is leaning into an assault on the 'barbarians' at the bank. It may be great politics, but the economics are trickier
3 months, 2 weeks ago

Labor is leaning into an assault on the 'barbarians' at the bank. It may be great politics, but the economics are trickier

ABC  

There's plenty of buyer's remorse inside Labor these days. 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. Failure to bring inflation back to the bank's 2 per cent to 3 per cent target range would ultimately force the Reserve Bank to "slow the …

Economy Labor Inflation Bank Interest Rates Interest Rates
PETER VAN ONSELEN: Here's the reality of the 2024 Budget for your hip pocket - now and in the years to come
7 months, 1 week ago

PETER VAN ONSELEN: Here's the reality of the 2024 Budget for your hip pocket - now and in the years to come

Daily Mail  

This is a Jim-flationary budget, make no mistake. Treasurer Jim Chalmers' handed down his third budget on May 14 Budget 2024 delivers a surplus this financial year but wall to wall deficits in the out years Chalmers began his Budget speech with trademark confidence, smiling and laughing at the podium before formally reading from his notes. But the danger is …

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Federal budget to haul in extra cash once again, but less than in previous years
7 months, 2 weeks ago

Federal budget to haul in extra cash once again, but less than in previous years

ABC  

Next week's federal budget will once again collect more in tax than expected, raking in an extra $25 billion over the five-year budget forecasting period. The windfall is smaller than in the past six updates, prompting Treasurer Jim Chalmers to warn his third budget would be characterised by "intensifying, not easing" financial pressure to show fiscal restraint. He said this …

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Federal budget summary: JobSeeker and welfare payments increased as living costs bite
1 year, 7 months ago

Federal budget summary: JobSeeker and welfare payments increased as living costs bite

ABC  

A modest increase in unemployment benefits and cheaper health care are the centrepieces of a federal budget tasked with helping the nation's most vulnerable as living costs continue to hurt households. Key points: The rates for JobSeeker, rent assistance and the single-parent payment have increased in the budget Labor's second budget includes a surplus this financial year, and the prospect …

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Jim Chalmers's budget surplus was a surprise so where has the money come from?
1 year, 7 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 …

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PwC Australia CEO Tom Seymour steps down after tax documents leak scandal
1 year, 7 months ago

PwC Australia CEO Tom Seymour steps down after tax documents leak scandal

ABC  

The boss of PricewaterhouseCoopers Australia has stood down as the consulting firm feels the fallout of a partner betraying the trust of its biggest client: the federal government. Key points: Mr Seymour remains a partner of the firm despite stepping down as CEO His departure follows revelations another partner at PwC leaked confidential government briefings Treasurer Jim Chalmers has described …

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IMF warns Australian housing market at high risk of mortgage defaults ahead of global economic downturn
1 year, 8 months ago

IMF warns Australian housing market at high risk of mortgage defaults ahead of global economic downturn

ABC  

The level of risk in Australia's housing market is the second-highest in the developed world, the International Monetary Fund has warned. Key points: The IMF has downgraded its global economic growth outlook to 2.8 per cent this year, stoking fears of an economic downturn It says Australia's housing market has one of the highest risks of mortgage repayment defaults in …

Global Economy Housing Market Financial New Zealand Economic
The government is sitting on (nearly) a trillion dollars of debt. How big a problem is it?
2 years, 2 months ago

The government is sitting on (nearly) a trillion dollars of debt. How big a problem is it?

ABC  

There's one phrase that's been getting a real work-out ever since Labor's election win in May. They point to the net debt figure, which takes the total debt then subtracts many of the government's financial assets — like cash it holds, deposits and loans it is owed. Heading into the global financial crisis in 2008, Australia's net debt was in …

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Reserve Bank increases interest rates, Commonwealth, Westpac, ANZ, NAB set to pass it onto customers
2 years, 6 months ago

Reserve Bank increases interest rates, Commonwealth, Westpac, ANZ, NAB set to pass it onto customers

Daily Mail  

Anthony Albanese has refused to speak about the Reserve Bank's largest interest rate rise in 22 years when probed by reporters during an official visit to Indonesia. The central bank hiked the cash rate to 0.85 per cent on Tuesday, meaning mortgage holders will be forced to shell out even more on their monthly repayments as the cost of living …

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Labor Treasurer Jim Chalmers economy electricity prices inflation petrol increase GDP house market
2 years, 6 months ago

Labor Treasurer Jim Chalmers economy electricity prices inflation petrol increase GDP house market

Daily Mail  

Australian electricity bills are expected to double in July following a surge in wholesales prices with new Treasurer Jim Chalmers warning of 'skyrocketing inflation'. Scroll down for video Australian electricity bills are expected to double in July following a surge in wholesales prices with new Treasurer Jim Chalmers warning of 'skyrocketing inflation ' PERFECT STORM OF ECONOMIC BAD NEWS PRICEY …

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Australia's biggest economic threat isn't homegrown. It's a recession originating in the United States
2 years, 6 months ago

Australia's biggest economic threat isn't homegrown. It's a recession originating in the United States

ABC  

A recession in the US usually brings on a recession in the rest of the world, although not always in Australia. That's something our new treasurer Jim Chalmers – who many don't realise was an advisor to the treasurer during the global financial crisis – knows a good deal about. Treasurer Jim Chalmers has experienced negotiating Australia through a global …

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