Treasurer Jim Chalmers says the federal government has lost "political paint" from May's budget while defending a backdown on key measures.
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Fri 19 Jun 2026 at 8:23am
Fri 19 Jun 2026 at 8:23am
Chalmers says Australia, world 'desperately' needs Middle East conflict to end
By Joshua Boscaini
Treasurer Jim Chalmers has just stepped up to deliver a speech to the Business NSW Central Coast 2026 Economic Breakfast.
He says this week has had some welcome developments with interest rates being kept on hold and a ceasefire in the Middle East.
Chalmers says the end of war in the region can't come soon enough and that "we desperately need this ceasefire to stick".
The treasurer says Australia has a lot coming at it from around the world.
"Even after the signing of that deal, even after the proper opening of the Strait of Hormuz, we'll still be paying a hefty price for those hostilities long after they end," Chalmers says.
Fri 19 Jun 2026 at 8:05am
Fri 19 Jun 2026 at 8:05am
Liberal frontbencher pushes back on Hanson's comments about multiculturalism
By Joshua Boscaini
Andrew Bragg says he doesn't agree with One Nation leader Pauline Hanson's characterisation that multiculturalism is flawed.
Hanson said in a speech to the National Press Club on Wednesday said while the country is multiracial, it should be monocultural.
The Liberal frontbencher says Australia has been a multicultural country for the past 250 years and says it's something we should be proud of.
Speaking to ABC Radio National Breakfast , Bragg says he does think there has been a loss of shared purpose and disappointment in the direction of the nation.
"I think what we need to do is to work out what are the things that we have in common, what are the golden threads of this great country, and focus on that rather than on division," Bragg says.
Fri 19 Jun 2026 at 7:59am
Fri 19 Jun 2026 at 7:59am
Andrew Bragg says budget changes have 'more holes than a piece of Swiss cheese'
By Joshua Boscaini
Liberal frontbencher Andrew Bragg says the treasurer's backdown on key budget measures shows he's "failed at his job".
Labor backed down on some key measures in May's budget related to capital gains tax and testamentary trusts yesterday.
The government is increasing the small business turnover threshold for capital gains tax concessions from $2 million to $10 million.
And income from all types of testamentary trusts will be exempt from the minimum tax, including future discretionary testamentary trusts.
Speaking to ABC Radio National Breakfast , Bragg says the budget measures have "more holes than a piece of Swiss cheese".
"Younger Australians will now face a punitive tax system on the capital side or on the income pay-as-you-go side. So that's what we really object to that," Bragg says.
"This has not been a recalibration of the tax system. This has been an increase in capital gains tax and virtually nothing on the pay-as-you-go side."
Fri 19 Jun 2026 at 7:50am
Fri 19 Jun 2026 at 7:50am
Butler defends budget backdown as 'sensible', Wilson says budget has 'fallen apart'
By Joshua Boscaini
Mark Butler has appeared on Channel Seven for his regular Friday morning spot, this time with Shadow Treasurer Tim Wilson .
The health minister has defended the changes announced yesterday as "sensible" and still retaining the government's original intention of tax reform.
Labor backed down on some key measures in May's budget on capital gains tax and testamentary trusts yesterday.
The federal government is increasing the small business turnover threshold for capital gains tax concessions from $2 million to $10 million.
"There was some consultation happened before budget night, we've continued that in a very deep engagement with business in particular and I think delivered a clearer and more balanced package," Butler says.
Wilson says the government has lied to the Australian people for a budget which he says has "fallen apart".
"It's quite clear yesterday the prime minister and the treasurer were hostage at their own press conference as they've been brought to heel by the Australian people," Wilson says.
"The government is now trying to gloss over it and polish a turd is the expression I'm using, or polish a tax turd."
Fri 19 Jun 2026 at 7:39am
Fri 19 Jun 2026 at 7:39am
Pauline Hanson's views on paid parental leave outdated and concerning, advocates say
By Nicholas McElroy
Pauline Hanson's openness to discuss a winding back of paid parental leave is concerning and harks back to an Australia that no longer exists, advocates say.
The One Nation leader questioned "why should business pay [parents] if they're not at work?" while challenging the pay gap between men and women in her speech at the National Press Club this week.
The party is willing to consider pulling back paid parental leave, though it has not finalised its policy on workplace relations.
It is a long-held view of Senat…
Read the full article at ABC News (Australia) →
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