Australia news live: Jim Chalmers says he has ‘other priorities’ than a gas tax; Anthony Albanese calls to congratulate Andy Burnham
Summary
Australia’s job market grew strongly in June, adding over 76,000 jobs. However, rising oil prices due to conflict in the Middle East have increased expectations that the Reserve Bank of Australia will raise interest rates later this year. Treasurer Jim Chalmers said the government has other priorities besides introducing a new gas tax and highlighted recent resource tax reforms.Key Facts
- The Australian labour market added more than 76,000 jobs in June.
- The Reserve Bank of Australia may raise interest rates for the fourth time in 2024 due to inflation concerns.
- Rising oil prices, from about $72 to over $100 per barrel, are pushing petrol prices higher and adding inflation pressure.
- Treasurer Jim Chalmers said the government’s focus is on resource tax reforms and gas reservations, not a new gas tax.
- Labor party members approved plans to seek a “fairer return” from Australia’s natural resources at their conference.
- Chalmers criticized right-wing parties for “anti-worker” policies and said Labor has worked to boost wages and cut taxes.
- Real wages have grown recently, but ongoing inflation means people might have less money left after essentials.
- The government aims to remain a reliable gas supplier internationally while managing domestic concerns.
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