Media releases
2025
New Secretary to the Treasury
I welcome the Prime Minister’s announcement today that Jenny Wilkinson will serve as the next Secretary to the Treasury and I thank him for the way he has involved and included Katy Galla
National Accounts March quarter 2025
Today’s National Accounts show that our economy continues to grow in the face of substantial economic headwinds at home and abroad.
National Minimum Wage to rise 3.5 per cent following Annual Wage Review
The Fair Work Commission’s Expert Panel today announced the National Minimum Wage and award wages will increase by 3.5 per cent from 1 July 2025, following the 2024–25 Annual Wage Re
Longest period in band on record for monthly inflation
New figures from the ABS show that headline and underlying inflation remained in the Reserve Bank of Australia’s target band in April.
Streamlining and strengthening our foreign investment regime with a new online processing system
The Albanese Government is taking the next step in delivering a streamlined and strengthened foreign investment regime with a new, more efficient and more effective online portal to process applica
Reserve Bank cuts interest rates again
Today the independent Reserve Bank of Australia Monetary Policy Board decided to lower the cash rate again for the second time in three months.
Public consultation on productivity reform priorities
The Albanese Government welcomes the Productivity Commission’s call for submissions on priority reform areas released today.
Backing a wage rise for low‑paid workers
The Albanese Labor Government is backing another pay rise for low‑paid workers to help with the cost of living.
More jobs, low unemployment and lower inflation under Labor
The Albanese Labor Government continues to deliver more jobs, with ABS Labour Force data today showing a record number of Australians in paid work and unemployment remaining low.
A year and a half of annual real wages growth
New data released by the Australia Bureau of Statistics shows that annual real wages have grown for 18 months in a row under the Albanese Labor Government.
Economic portfolio ministers
I’m grateful to the Prime Minister for the opportunity to continue to serve as Australia’s Treasurer.
Headline and underlying inflation fall in February
New figures show that headline and underlying inflation fell last month.
Cracking down on non-compete clauses to boost wages and productivity
The Albanese Government is taking action to stop unfair non‑compete clauses that are holding back Australian workers from switching to better, higher‑paying jobs.
New cost of living tax cuts under Labor
The Albanese Government will deliver two more tax cuts to every Australian taxpayer in 2026 and 2027, adding to the first round that Labor delivered in July last year.
Responsible economic and fiscal management
The Albanese Government is building a stronger economy and stronger Budget, with smaller deficits and much lower debt than we inherited.
More energy bill relief for every Australian household and for small business
The Albanese Labor Government will provide another $150 in Energy Bill Relief, extending our energy rebates until the end of 2025.
Building Australia’s future
This is a responsible Budget that helps with the cost of living, while Building Australia’s Future.
Building a stronger economy
The Albanese Labor Government is securing Australia’s future during a time of global uncertainty by making our economy more productive and more resilient.
Responsible cost-of-living help
Cost of living is front of mind for most Australians, and front and centre in the Budget.
National licensing for electrical trades
The Albanese Government will work with states, territories, businesses and unions to design a national licensing scheme for electrical trades people.