Business Daily Media

Jim Chalmers on the need to change economic course

  • Written by Michelle Grattan, Professorial Fellow, University of Canberra

Shadow Treasurer Jim Chalmers says it’s time to change Australia’s economic course “in a responsible and affordable way which doesn’t jeopardise the surplus”.

Chalmers predicts the budget outcome for last financial year, forecast to be a deficit at budget time, could possibly show a surplus, because of high iron ore prices and other factors including an underspend on the NDIS.

He argues the government can have both a more stimulatory policy and a surplus going forward, given the various boosts to the budget’s bottom line. “I don’t think the government has come to a fork in the road where it’s a choice between a surplus or doing something responsible to stimulate the economy.

"As it stands right now it’s possible to do both and we think the government should do both”.

The government should boost Newstart, Chalmers tells Michelle Grattan, although he wouldn’t oppose it first holding “a short sharp review” to examine interactions with other payments.

On Labor’s way ahead, now being debated within the party, Chalmers says “we’d be mad not to learn the lessons” of the election result.

With some of the opposition’s most controversial election policies in his portfolio, notably on franking credits and negative gearing, Chalmers is already consulting widely.

There’s agreement on two things, he says. “Nobody expects us to finalise our policies three years before the next election […] and nobody expects us to take an absolutely identical set of policies to the 2022 election”.

New to podcasts?

Podcasts are often best enjoyed using a podcast app. All iPhones come with the Apple Podcasts app already installed, or you may want to listen and subscribe on another app such as Pocket Casts (click here[1] to listen to Politics with Michelle Grattan on Pocket Casts).

You can also hear it on Stitcher, Spotify or any of the apps below. Just pick a service from one of those listed below and click on the icon to find Politics with Michelle Grattan.

image image

image image

image image

Additional audio

A List of Ways to Die[2], Lee Rosevere, from Free Music Archive.

Image:

AAP/ Joel Carrett

References

  1. ^ here (pca.st)
  2. ^ A List of Ways to Die (freemusicarchive.org)

Authors: Michelle Grattan, Professorial Fellow, University of Canberra

Read more http://theconversation.com/politics-with-michelle-grattan-jim-chalmers-on-the-need-to-change-economic-course-123597

Business Reports

Businesses encouraged to seek help to deal with cashflow issues

Daniel Riley, leading finance expert and CEO of one of the country’s top business finance providers, Earlypay, is encouraging businesses to reach out for assistance to deal with cashflow issues before it’s too late. “Ou...

Basic Dropshipping Business Tips To Remember

During the pandemic one of the businesses which many people looked to get involved with was dropshipping, a great option if you know what you are doing. This is a business which sees you focus on selling online, contacting manuf...

Aussies plan to turn their side hustle into their full time gig

SIDE HUSTLE BOOM: 4 IN 5 AUSSIES TURN SIDE HUSTLE DREAMS INTO DOLLARS    New research reveals more than three quarters (78%) of Aussies plan to turn their side hustle into their full time gig   With the rise in cost of ...

Fixing Broken Processes in the Financial Services Sector

As established financial services firms face increasing competition with the emergence of nimble fintech rivals, many are looking for ways to make their internal processes more efficient. Manual, paper-based workflows and proce...

Six ways businesses can minimise travel disruptions

While business travel continues to grow healthily, travellers may have another potential disruption to be on guard for: the rapid rise of flu and COVID cases that are expected to peak in the coming months. A leading travel manag...

How Australians are missing out on retirement returns

Australians are missing out on potential returns by not regularly salary sacrificing, according to new research by Finder, Australia’s most visited comparison site. A new Finder survey of 722 people with super revealed only...

Web Busters - Break into local search

WebBusters.com.au