Jim Chalmers

Jim Chalmers says the May 14 budget will place a ’real emphasis on economic security' amidst multiple concerns about the global economy.

Treasurer Jim Chalmers says the current voluntary regime is ’too hit and miss’ and there’s no way of knowing if the right mergers are being scrutinised.

Tariffs on goods like toothbrushes, fridges, clothing, and sanitary products will be removed.

The Australian economy is expected to to post another weak growth result in the December quarter of 2023.

‘The sorts of advertising that we’ve seen from that group goes well beyond the acceptable norms of ... sensible Australian politics,’ said Jim Chalmers.

Most Australians would correctly observe that their banking sector is an oligopoly.

‘We want people to earn more and we want workers, every taxpayer, to keep more of what they earn,’ the treasurer said.

Economists had predicted the unemployment rate to remain steady.

The call comes after the Australian treasurer appointed former union secretary Greg Combet to lead the $200 billion sovereign wealth fund.

The monthly CPI grew 4.3 percent in the 12 months to November 2023, down from 4.9 percent in the previous month.

‘These changes will encourage greater take-up of fuel-efficient vehicles,’ said the 2023-24 mid-year budget outlook.

The government says it has banked 92 percent of revenue improvements since the May budget.

Through these changes, the government is estimated to raise about half a billion dollars.

While the Australian economy is still expanding, it is unable to keep pace with population growth.

The treasurer said the government needed to calibrate the budget settings in accordance with the current economic conditions and budget constraints.

‘We want to ensure Australia’s central bank remains world class with a monetary policy framework fit to meet our current and future economic challenges.’

Mr. Abbott believes the federal government’s plan to achieve net zero by 2050 is irrational.