Jim Chalmers

Boosting wages and living standards is central to our economic plan. These new numbers show people are earning more and keeping more of what they earn under Labor.

The facts: New figures from the Bureau of Statistics show Australian workers are earning a greater share of national income under Labor.

The wage share of income has risen to 54.2 per cent under the Albanese Government, up from 49 per cent under the Liberals.

Here’s what you need to know about today’s new numbers which show a big uptick in business investment and investment in building more homes is driving faster annual growth in our economy.

This Lendlease complex which is delivering 443 build-to-rent units in Brisbane’s Bowen Hills is exactly what we want to see more of across the country, and that’s reflected in our policies which are all about incentivising more construction and getting people into homes sooner.

Really positive numbers out today on investment in new housing supply, with dwelling investment growing 1.8% in the quarter, to be 6.5% higher through the year.

Unlocking more investment in housing is one of our highest priorities.

Today’s data shows that when it comes to growing our economy, building more homes, incentivising investment and boosting wages and incomes, we are making a lot of progress together.

In annual terms, this was the fastest growth in two years.

The biggest story in the National Accounts is the very strong growth in business investment and investment in homes.

This is a positive and promising result and shows we've made a lot of progress together in our economy.

BREAKING: new numbers show an uptick in annual economic growth and the strongest growth in private investment in almost five years.

Australia's economy grew 0.4 per cent in the September quarter, to be 2.1 percent higher through the year.

See for yourself here.

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Check this out: the Liberals have been caught out lying about your power bills and the renewables rollout.

According to this ABC fact check, coal fired power generation is becoming more unreliable and replacing that energy with new coal-fired power stations is more expensive than renewables.

Today we've released our National AI Plan.

It’s all about helping workers, businesses and communities capture new opportunities, spreading the benefits, and keeping Australians safe.

That’s why the Albanese Government has delivered a 15% pay rise, with the final 5% hitting their pay packets today.

This is all part of the Albanese Government’s efforts to help Australians earn more and keep more of what they earn.

From today, early childhood educators will get an extra $160 a week thanks to Labor’s 15% pay rise.

Australia’s early childhood education workers give our kids the best start in life, and they deserve to be paid fairly for it.

Huge day today, chairing a meeting of Treasurers which was all about building more homes and working hard together to make our economy stronger, more competitive and more productive in the interests of the Australians we represent. #auspol

BREAKING: Labor’s environmental laws which are good for the environment and the economy have just passed the Parliament.

This will mean faster approvals for projects that are in Australia’s interests and faster knock backs for projects that are not.

Labor is the party of lower income taxes, higher wages and less debt, and the Liberals are the party of higher taxes, lower wages and bigger deficits.

Inflation was flat in the month of Oct, higher than we’d like in annual terms but still much lower than under the Liberals, and partly driven by temporary factors like state energy rebates.
We know people are still under pressure and that’s why our responsible cost of living relief is so important.

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

This will benefit the retirement incomes of millions of Australians.

Today we’ve announced a new contract worth close to $2 billion to upgrade the Bruce Highway and the Gateway Motorway in the northern suburbs of Brisbane from Bracken Ridge to Pine Rivers.
These investments are only possible thanks to strong representation from Emma Comer and Corinne Mulholland.

I’ll join Hamish MacDonald on ABC radio Sydney shortly. #auspol #ausecon

Thanks ACCI for the invitation to speak about the important role of the private sector in our economic performance and provide an update on the progress we're making on the objectives agreed at the Economic Reform Roundtable. #auspol #ausecon

Global ratings agency Fitch has reaffirmed Australia’s triple-A credit rating.

This is another powerful endorsement of Labor’s responsible economic management.

We’ve made a lot of progress together on the economy and that progress has been acknowledged by the big ratings agencies.

The people who work in the Treasury and throughout our public service make a huge contribution to our country.

Fantastic chat with a really impressive crop of graduates in the Treasury today - about everything from the global economy, to energy, AI and a Future Made in Australia.

Diwali is a very special time for many people in our community.

Grateful to meet with community leaders to mark the festival of lights at Parliament House today.

Thanks to my friend Sergii Marchenko ‬⁩for the update on the war effort and joining me to sign the first tax treaty between our countries which will strengthen economic ties and is another signal of our steadfast support for Ukraine’s bravery in the face of Russian aggression. #auspol #ausecon 🇺🇦 🇦🇺

Our better targeted super tax concessions will help pay for a super boost for 1.3m low income workers in industries like hospitality and retail. Thanks to The Paddo for having Madonna Jarrett and me talk about @australianlabor.bsky.social’s efforts to make the super system fairer from top to bottom.

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We're making the super system fairer from top to bottom.

Our reforms to the low-income superannuation tax offset will help deliver a more secure retirement for more than a million Australians, mainly young people and women.

#auspol #AusEcon

What better way to spend the end of a long parliamentary week than in our local community speaking with the amazing new nursing students at Loganlea TAFE about the @australianlabor.bsky.social’s fee-free TAFE and paid prac, which is making it easier for them to get the qualifications they need.

@australianlabor.bsky.social is making sure your superannuation is paid, and paid on time.

Proud to introduce new legislation into Parliament today so you get your super when you get your salary.

Here’s what it means for the average worker 👇

#auspol #ausecon