Business Daily Media

Men's Weekly

.

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

AWS research shows strong AI adoption momentum in Australia, with startups outpacing large enterprises in innovation

Amazon Web Services (AWS), an Amazon.com company, released new research revealing that while artificial intelligence (AI) adoption continues to acce...

Changing the World One Bite At a Time: IKU Turns 40

One of Australia’s first plant-based, chef-led eateries and now ready meal provider IKU is celebrating its 40 year anniversary with the business e...

Three generations marking 45 years in hot-air balloons

Australia’s leading hot-air balloon company is celebrating 45 years in the sky and its 700,000th passenger, driven by the passion of father-son du...

Workplace DMs, Reinvented: Deputy Messaging, Purpose-Built For Shift-Based Teams

Deputy, the global people platform for shift-based businesses, has launched Deputy Messaging, a fully integrated, real-time communication tool designe...

Revolutionizing Fulfillment: How Virtual Warehousing is Changing the Game?

The e-commerce landscape is evolving more rapidly than ever, and the way businesses are managing their fulfillment is also revolutionizing. At the...

SME lender Dynamoney welcomes new CEO, Brett Thomas

Strengthens growth ambitions and signals expanded offering Dynamoney, a leading commercial finance provider for Australian SMEs,  has today appoint...

Sell by LayBy