Jim Chalmers 2022

Each budget involves its own unique series of fine balances to ensure the fiscal settings are suited to the times and suited to the economic challenges of the day.

The Albanese Government’s third budget to be handed down on May 14 will be no different.

RICHARD SPURIO:

Treasurer, it felt like a slightly more sobering tone today. I think there has been a general sense, perhaps, that things were turning and there was good news ahead, but it sounded like you were reminding people that there are still some challenges. So are you feeling optimistic about achieving a soft landing and growth?

Thanks, Aunty Maxine for welcoming us to Gadigal country and for sharing culture with us;

To Andrew for the introduction;

To the Commonwealth Bank and Allens for supporting the event;

To Melinda and her wonderful team for this welcome opportunity to speak with you today at the Sydney Cricket Ground;

PHIL COOREY:

If we could just start with your speech, and I know there would be people in the audience quite chuffed with the comments you made on the EPBC Act and the PRRT. Is it now your wish to get the legislation through the Senate at the end of March given what you announced today is pretty much what the Coalition has been insisting on?

Thanks Michael and James, thanks Phil for the chance to have a chat shortly, and thanks to the Financial Review and BHP for hosting us here in Sydney, and for the invitation to speak today.

I acknowledge the Gadigal people on whose lands we meet, and pay respects to elders, customs and traditions.

The Albanese Government will introduce a financial sector regulatory initiatives grid to make sure the standard business of regulation is carried out in a more coordinated way.

We want to make it simpler and easier to do business in Australia and that’s what this will help achieve in the financial services sector.

The Albanese Government’s reform agenda is about modernising our economy and maximising our opportunities to make our people, businesses and industries beneficiaries of the big changes underway in our society and our economy.

The Albanese Labor Government will abolish almost 500 nuisance tariffs from 1 July this year.

We will eliminate import tariffs on a wide range of imported goods including toothbrushes, hand tools, fridges, dishwashers, clothing, and menstrual and sanitary products.

This is the biggest unilateral tariff reform in at least two decades.

The Albanese Government is consulting on options to improve the superannuation performance test to deliver a dignified retirement for more Australians.

The performance test helps deliver super returns for Australians and we want to make the test even better.

Let me begin by acknowledging the elders, customs and traditions of the Jagera and the Turrbul, from both sides of the Maiwar –

And by thanking Carolyn for introducing me, her team for hosting us here, and of course Andrew’s publisher Black Inc and Andrew himself for inviting me to do the honours.