Jim Chalmers 2022

NATASHA EXELBY, HOST:

PATRICIA KARVELAS, HOST:

With inflation surging and the International Monetary Fund warning the world stands on the edge of a global recession, the Treasurer will today cut economic growth forecasts for the year ahead.

ALLISON LANGDON, HOST:

All right, well, I want to take you back to the year 2001.

[Kylie Minogue “Can’t get you out of my head” plays.]

CHARLES CROUCHER, HOST:

That will do it.

LANGDON:

MICHAEL ROWLAND, HOST:

Let's bring in now the Treasurer Jim Chalmers at Parliament House in Canberra. Treasurer, good morning to you.

JIM CHALMERS, TREASURER:

Good morning, Michael.

ROWLAND:

DAVID KOCH, HOST:

New numbers show inflation has increased 6.1 per cent over the past year and highlight the difficult circumstances facing Australian workers and families.

This high and rising inflation is not surprising but it is still confronting.

I'm really excited to be introducing this bill today, and particularly to follow the Minister for Climate Change, having just presented some of the broader climate change bills to the Parliament.

JIM CHALMERS, TREASURER:

I wanted to speak briefly about two sets of numbers that we've received in the last 24 hours or so. Of course, the inflation number that just came out, as well as the growth forecasts for the world economy from the International Monetary Fund.

Today, the Government has introduced the Treasury Laws Amendment (Electric Car Discount) Bill 2022 into Parliament.

This Bill is good for motorists, good for employers and their workers, and good for climate action.

It implements the Government’s plan to remove fringe benefits tax (FBT) to make electric cars cheaper so that more families who want them can afford them.

Wayne Byres has advised the Governor‑General of his intention to step down as Chair of the Australian Prudential Regulation Authority from 30 October, 2022.

I thank Mr Byres for his outstanding contribution to APRA and his dedicated service to Australia.

He’ll be greatly missed but I wish him well.