Media releases
2024
Consultation begins on next set of PRRT regulations
The Albanese Government will consult on the next component of regulations to improve the certainty and integrity of the Petroleum Resource Rent Tax regime, as recommended in the Gas Transfer Pricin
Treasurers work together to boost competition
Today Treasurers agreed to work together to identify possible cost‑of‑living competition reforms that could be progressed through our revamp of National Competition Policy.
Better coordinated financial sector regulation
The Albanese Government will introduce a financial sector regulatory initiatives grid to make sure the standard business of regulation is carried out in a more coordinated way.
Tariff reform to cut costs for businesses and boost productivity
The Albanese Labor Government will abolish almost 500 nuisance tariffs from 1 July this year.
Improving the superannuation performance test
The Albanese Government is consulting on options to improve the superannuation performance test to deliver a dignified retirement for more Australians.
Paying super on Government Paid Parental Leave to enhance economic security and gender equality
The Albanese Labor Government will continue its historic reform of Paid Parental Leave (PPL) and will pay superannuation on the Government payment from 1 July 2025.
National accounts – December quarter 2023
Today’s National Accounts show Australia’s growth is subdued but steady in the face of higher interest rates, high but moderating inflation and ongoing global uncertainty.
Inflation at its lowest in more than 2 years
Today’s Monthly Consumer Price Index Indicator shows annual inflation of 3.4 per cent in the 12 months to January 2024.
Albanese Government’s cost-of-living tax cuts to roll out from July 1
The Albanese Labor Government’s cost‑of‑living tax cuts today passed the Senate.
G20 meeting in South America
This week I will join international counterparts in Brazil as part of the G20 Finance Ministers and Central Bank Governors meetings in Sao Paulo.
Visit by the New Zealand Finance Minister
Today I met with New Zealand’s Minister for Finance the Hon Nicola Willis MP for a productive discussion on a range of shared economic priorities.
Real wages growth is back
Australia has recorded a return to annual real wages growth faster than expected, according to the Wage Price Index released by the Australian Bureau of Statistics today.
Australian Competition Tribunal decision on ANZ acquisition of Suncorp Bank
The Australian Competition Tribunal has found the acquisition of Suncorp Bank by ANZ Group Holdings Ltd meets the criteria of the Competition and Consumer Act 2010.
Australia's AAA credit rating reaffirmed following MYEFO
International ratings agency S&P has once again reaffirmed Australia’s AAA credit rating, joining the growing group of respected voices endorsing the Government’s responsible economic managemen
New foreign investment laws to boost housing supply
The Albanese Government has today introduced legislation to adjust the foreign investment framework to help boost Australia’s housing stock and provide more homes for Australians.
Government introduces legislation to deliver cost of living tax cuts
Today the Albanese Government has introduced legislation to implement our cost‑of‑living tax cuts for middle Australia.
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.