Jim Chalmers 2022

Australia will extend tariff relief as part of its support for Ukraine and its people in response to Russia’s brutal full-scale invasion.

The announcement follows a meeting overnight between the Treasurer and his Ukrainian counterpart in Washington DC.

FERGUSON:

Treasurer Jim Chalmers is in Washington DC meeting with his G20 counterparts as well as the IMF and the World Bank. There's been somewhat good news from the International Monetary Fund, which found Australia's budget balance the second strongest among G20 nations. The Treasurer joins me now from Capitol Hill. Treasurer, welcome to 730.

Australia has achieved a remarkable improvement in a global ranking of budget positions, according to the latest figures from the International Monetary Fund.

Australia had the second strongest budget balance as a share of GDP among G20 countries last year, up from equal 14th position in 2021, the IMF Fiscal Monitor released overnight shows.

PATRICIA KARVELAS:

This week I will join my international counterparts for the G20 Finance Ministers’ and Central Bank Governors’ Meeting and the IMF – World Bank 2024 Spring Meetings in Washington DC.

A big focus of meetings with ministerial counterparts, central bank governors and the key global economic institutions in Washington DC this week will be the economic uncertainty that comes from rising inflation in the United States, a slowdown in China, recessions recorded in comparable countries and the impacts of 2 serious conflicts in the Middle East and Europe.

DAVID SPEERS:

Treasurer, welcome to the program.

JIM CHALMERS:

Thanks very much, David.

SPEERS:

Now we'll come to your plans on manufacturing in a moment, but I do want to start with the horrific attack at Bondi Junction. What's your reaction to what's happened there?

LAURA TINGLE:

Treasurer, welcome back to 7.30.

JIM CHALMERS:

Thanks very much, Laura.

TINGLE:

A lot of Australians would be surprised to find out that until now, business mergers happen first, then regulators got to have a look at them to see whether they were competitive or not. How did that happen?

TOM CONNELL:

Thanks Pamela and Gina for the introductions and to the ACCC and Law Council for the invitation to speak here on Gadigal country, I pay my respects to elders, customs and traditions.