Jim Chalmers 2022

Today the independent Reserve Bank of Australia Monetary Policy Board kept interest rates on hold at 3.60 per cent.

While millions of Australians would’ve wanted to see more rate relief, this decision was widely anticipated and widely expected by markets.

Labor’s new legislation to require employers to pay their employees’ super at the same time as their salary and wages has passed Parliament.

This will benefit the retirement incomes of millions of Australians.

These laws are all about reforming our superannuation system to help ensure more Australians get the secure retirement they need and deserve.

Subjects: upgrade of Gateway Motorway and Bruce Highway, energy rebates, GST exemption for Mt Isa smelter investment, foreign investment, Medicare changes, Opposition’s net zero policy

A major step forward in busting congestion in Brisbane’s north is underway, with a new contract awarded to deliver significant upgrades to the Gateway Motorway and Bruce Highway.

The Gateway to Bruce Upgrade (G2BU) will tackle long‑standing congestion and safety issues on one of North Brisbane’s busiest transport corridors.

Hamish Macdonald:

The Treasurer, Jim Chalmers is here this morning. He’s delivered a keynote speech at a huge economic conference here in Sydney.

In part he’s announcing plans to make it easier for foreign companies to invest in Australia, to invest here in Sydney as well.

Jim Chalmers, a very good morning to you.

The Albanese Government is opening consultation on reforms to make our investment framework work better for investors, our economy, and our national interest.

Our goal is a foreign investment regime that is much stronger where risks are high and much faster where risks are low.

Thanks Mark, for the introduction.

And for the opportunity to address this forum in Sydney once again, a city known for its thriving financial services industry.

A city full of possibility and potential as the epicentre of investment in Asia.

And on the traditional lands of the Gadigal people, whose elders, customs and culture we acknowledge.

Mark, thanks for your leadership and the kind introduction.

Andrew, congratulations on clocking up 4 years in the role now and thanks for the invitation to join you and your members.

Let’s acknowledge together the elders, customs and culture of the Ngunnawal and Ngambri people on their traditional lands.

New figures from the ABS show that underlying inflation was at the top of the target band in the September quarter.

This means underlying inflation has now been between two and three per cent for three consecutive quarters.

Joint media release with Senator the Hon Katy Gallagher