Jim Chalmers 2022

The Albanese Government has appointed Dr Craig Emerson to lead the 2023–24 review of the Food and Grocery Code of Conduct (the Code) to ensure that the supermarket sector is working as it should.

The Food and Grocery code is prescribed under the Competition and Consumer Act 2010. Aldi, Coles, Woolworths and Metcash are signatories to the Code and are bound by it.

JASON DASEY:

We’re joined by Federal Treasurer Jim Chalmers, who’s also the Federal Member for Rankin. Happy New Year, Jim, and welcome to 4BC Summer Drive.

JIM CHALMERS:

And to you, Jason, and thanks for having me on your show. I appreciate it.

DASEY:

DANICA DE GIORGIO:

The Treasurer has released new analysis showing wages growth at its fastest annual pace in 15 years. Earlier, I spoke to Treasurer Jim Chalmers and began by asking what the Albanese government is doing to lift wages.

JIM CHALMERS:

JIM CHALMERS:

The Albanese Government has today released the Centre for Population’s 2023 Population Statement providing updated and comprehensive data on Australia’s population.

Our economic plan is all about ensuring Australians are beneficiaries not victims of the shifts shaping our economy.

The Albanese Government will consult on regulations to improve the integrity of the Petroleum Resource Rent Tax regime by updating it to cover new business practices, as recommended by the Gas Transfer Pricing Review.

These regulations will implement one component of our PRRT reforms, which will mean the offshore LNG industry pays more tax, sooner.

MICHELLE GRATTAN:

The Albanese Government has appointed Judy O’Connell and Andrew Mills as part-time members to the Board of Taxation, each for a three-year term. Dr Julianne Jaques KC has been reappointed until 30 September 2025.

These appointments will strengthen one of our most important advisory boards with more experience and more expertise.

Today the Australian Competition and Consumer Commission (ACCC) has released its Inquiry into retail deposit products.

Increased interest on savings should be a silver lining from the higher mortgage rates Australians are now experiencing.

Just as we want Australians to get a good deal on their mortgages, we want savers to get the benefits of higher interest rates.

The Albanese Government is today releasing draft legislation to strengthen regulatory arrangements for Australia’s financial market infrastructure.

This legislation is the next step in modernising Australia’s financial system and implements long‑standing recommendations of the Council of Financial Regulators.