Jim Chalmers 2022

The Albanese Government will today introduce legislation to maximise the economic opportunities of cleaner, cheaper and more reliable energy and strengthen Australia’s financial system.

These new laws will modernise our financial system, provide greater information and clarity to investors, and incentivise investment in the net zero transformation.

PETER STEFANOVIC:

The federal government is pushing to raise the minimum wage in line with inflation for a third straight year. Let’s go to Canberra now. Joining us is the Treasurer Jim Chalmers. Treasurer, good to see you. Thanks for your time this morning. So, what will your submission be?

JIM CHALMERS:

JIM CHALMERS:

The focus of this government, not just this week but every week, is ensuring that Australians can earn more and keep more of what they earn. Our submission to the Fair Work Commission will be all about making sure that low paid workers in this country don't go backwards.

NATALIE BARR:

Well, Federal Labor has taken a hit in the latest Newspoll this morning, heading towards forming only a minority government at the next election. Primary support for the party is now lower than what it was at the 2022 election, falling to 32 per cent compared to the Coalition's 37.

SARAH ABO:

Thanks for your time this morning. Do you anticipate the Fair Work Commission will lift the minimum wage?

JIM CHALMERS:

BRIDGET BRENNAN:

Welcome back on this Monday morning, you're watching News Breakfast.

A busy weekend with an election and a by‑election in two states, we'll have more on that a little later. But first, the Commonwealth Government is backing a pay rise for Australia's lowest paid workers this morning.

MICHAEL ROWLAND:

I am so pleased to be joining you today on the lands of the Latji Latji and Ngintait people and I pay our respects to Elders and other Aboriginal and Torres Strait Islander people here with us.

I also acknowledge the Barkinji (bar‑kin‑gee) across the river and recognise their custodianship of their lands and their care of this wonderful region.

The Albanese Government is taking the next steps to ensure multinational companies pay their fair share of tax.

Today we are releasing exposure draft legislation to implement a global and domestic minimum corporate tax rate of 15 per cent.

Multinational companies making a profit in Australia should pay tax on those profits in Australia.

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 Pricing Review and announced in the 2023–24 Budget.

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.

This is an important outcome from today’s meeting of treasurers which I chaired virtually from Logan City.