Media releases

2024

Government launches ACCC inquiry into supermarket prices

The Albanese Government has formally issued a direction to the Australian Competition and Consumer Commission to investigate pricing and competition in the supermarket sector to ensure Australians

Release of Tax Expenditures and Insights Statement

Today I have released the 2023‑24 Tax Expenditures and

Inflation moderates to two-year low

The Consumer Price Index further moderated to 4.1 per cent in the year to the December quarter 2023, down from 5.4 per cent in the September quarter.

Appointments to the Future Fund Board

The Albanese Government has appointed the Hon Greg Combet AM as Chair of the Future Fund Board of Guardians for a five‑year term.

Government to launch ACCC inquiry into supermarket prices

The Albanese Government will direct the Australian Competition and Consumer Commission (ACCC) to investigate pricing and competition in the supermarket sector to ensure Australians are paying a fai

Legislation to modernise the Petroleum Resource Rent Tax

The Albanese Government will consult on new legislation to modernise the Petroleum Resource Rent Tax and to strengthen anti‑avoidance laws.

Albanese Government cracks down on illegal tobacco imports

The Albanese Government has today announced a major border force crackdown on the importation of illegal tobacco.

New climate reporting reforms for a stronger financial system

The Albanese Government has today released draft legislation for significant reforms that will help Australia maximise the economic opportunities of cleaner, cheaper and more reliable energy and ma

Welcome progress in the fight against inflation

Today’s Monthly Consumer Price Index indicator shows that inflation further moderated to 4.3 per cent in the 12 months to November 2023, down from 4.9 per cent in October.

Appointment of Dr Craig Emerson as Independent Reviewer of the Food and Grocery Code of Conduct

The Albanese Government has appointed Dr Craig Emerson to lead the 2023–24 review of the Food and Grocery Code of Conduct (the Code) to ensure that the supermarket sector is working as it

2023

2023 Population Statement

The Albanese Government has today released the Centre for Population’s 2023 Population Statement providing updated and comprehensive data on Australia’s population.

New regulations to improve the PRRT

The Albanese Government will consult on regulations to improve the integrity of the Petroleum Resource Rent Tax regime by updating it to cover new business practices, as recommended by the Gas Tran

Appointments to Board of Taxation

The Albanese Government has appointed Judy O’Connell and Andrew Mills as part-time members to the Board of Taxation, each for a three-year term.

Australian Competition and Consumer Commission retail deposit inquiry

Today the Australian Competition and Consumer Commission (ACCC) has released its Inquiry into retail deposit products.

Consultation on financial market infrastructure reforms

The Albanese Government is today releasing draft legislation to strengthen regulatory arrangements for Australia’s financial market infrastructure.

2023-24 Mid-Year Economic and Fiscal Outlook

The 2023‑24 Mid‑Year Economic and Fiscal Outlook (MYEFO) is all about responsible economic management because that’s the best way to put downward pressure on inflation and ease cost‑of‑living press

Higher foreign investment fees for housing

The Albanese Government will adjust the foreign investment framework to help boost Australia’s housing stock and provide more homes for Australians.

Next steps in modernising Australia’s payments system

The Albanese Government is today releasing two consultation papers to progress our plan to ensure Australia’s payments system delivers for our modern economy.

Statement on the Conduct of Monetary Policy

Today I am releasing, with the Reserve Bank of Australia (RBA), an updated Statement on the Conduct of Monetary Policy.

Appointments to the Foreign Investment Review Board

The Albanese Government has appointed Linda Apelt, Kellie Benda and Sarah Pearson to the Foreign Investment Review Board (FIRB) each for a five‑year term.