Jim Chalmers 2022

Jim Chalmers:

These are very welcome inflation numbers. They are a powerful demonstration of the progress that Australians have made together in the fight against inflation.

These numbers represent remarkable, outstanding progress when you consider that when we came to office headline inflation was 3 times higher than what it is in these numbers today.

Kieran Gilbert:

Let’s get some more reaction to that inflation number. Joining me is the Treasurer, Jim Chalmers. Treasurer, thanks for your time. The RBA shocked everyone at its last meeting. The governor said she wanted to see this number. Surely this will be enough to reassure them that inflation is tracking as they hoped.

New figures from the ABS show that headline and underlying inflation have both fallen to their lowest rates in almost four years.

Data released today was better than expected and confirms both headline and underlying inflation were in the RBA’s target band in the June quarter 2025.

Jim Chalmers:

The Government is taking the next step in reforming non‑compete clauses that are holding back Australian workers from switching to better, higher‑paying jobs.

Today we are releasing a consultation paper to gather insights and feedback from workers, business and the broader community about how we ban non‑compete clauses to boost productivity and wages across the Australian economy.

At times of global uncertainty, resilience doesn’t come from retreating inward – it comes from reaching outward.

That’s the lesson of past economic shocks, and it’s one we must heed again as we confront the fourth major economic disruption in just 2 decades.

Today the Albanese Labor Government is starting consultation on sustainable investment product labelling, to give investors more confidence to put more capital to work in sustainable products.

The release of this paper is a key step in implementing the Government’s Sustainable Finance Roadmap.

Today we have issued another round of invitations to the government’s Economic Reform Roundtable.

The Roundtable is all about building consensus on long term economic reform, with a focus on resilience, productivity and budget sustainability.

Steve Cannane:

Treasurers, finance ministers and central bank governors are currently meeting in South Africa for the G20. It comes against a backdrop of global economic slowdowns and trade tensions.

Federal Treasurer Jim Chalmers joined me earlier from Durban. Treasurer, thanks very much for your time.

Jim Chalmers:

This week I will join international counterparts for the G20 Finance Ministers and Central Bank Governors meetings in Durban, South Africa.

There could not be a more important time for G20 nations to work together and for Australia to be part of that collective effort.