Jim Chalmers 2022

Anthony Albanese:

The Albanese Government has re‑appointed seven eminent experts to advise the government on our broad and ambitious competition reform agenda.

Boosting competition and dynamism is one of the most important ways to make our economy more productive and lift living standards for workers.

Jim Chalmers:

Today we’ve released the terms of reference for the Productivity Commission Inquiry into the 2018 changes to the Goods and Services Tax distribution required under legislation.

This work will ensure we have the best possible system to pay for the schools, hospitals and essential services Australians need and deserve.

The Government is looking at new ways to cut red tape in the tax system to ease the compliance burden on businesses and make our economy more productive.

Today, we’ve tasked the Board of Taxation (the Board) to identify ways to responsibly reduce unnecessary compliance burdens and red tape in the tax system.

Underlying inflation fell in August according to new data from the Australian Bureau of Statistics.

Today’s figures show the substantial and sustained progress we’ve made together on underlying inflation.

Despite increased volatility in the global economy, underlying inflation is within the RBA’s target and that’s a promising result in uncertain times.

The Albanese Government will be appointing new senior leaders at two of Australia’s most important regulators.

High quality leadership at our core economic institutions is crucial to the more modern and competitive economy we are building together.

The Albanese Labor Government’s clear and credible Net Zero Plan will help Australia grasp the jobs and opportunities of the global energy transformation.

Treasury modelling of three scenarios released today overwhelmingly shows an orderly path to net zero is a path that leads to growing wages and living standards, more jobs and economic opportunity around the country.

Kara Cook:

The Albanese Government is investing $1.1 billion to help unlock the vast economic opportunities on offer from low carbon liquid fuels.

This is all about helping to maximise the economic and industrial benefits of the shift to clean energy and net zero.