Media Releases

A responsible Budget in uncertain times

25 October 2022

The Albanese Labor Government is putting a premium on Budget restraint and economic resilience.

The best defence against growing global uncertainty is responsible Budget management at home – and that’s what this Budget delivers.

Bigger pay slips for Australian workers

14 October 2022

More than 400,000 low‑paid workers in key industries will take home a bigger pay slip from today, thanks to a 4.6 per cent increase to minimum wages under their awards.

Industries in which workers are set to benefit include hospitality, tourism and aviation, with full‑time workers seeing a minimum $40 extra per week.

Treasurer's Investor Roundtable

07 October 2022

Today I am establishing the Treasurer’s Investor Roundtable to identify and unlock investment opportunities in national priority areas.

The Investor Roundtable will bring together leaders from the investment community including from some of Australia’s largest superannuation funds, the major banks and global asset managers, to identify and overcome barriers to investment.

Changes to protect consumers following Optus data breach

06 October 2022

The Albanese Government has prepared amendments to the Telecommunications Regulations 2021 to better protect Australians following the Optus data breach.

The Government will recommend to the Governor-General that the regulations be amended to allow Optus and other telcos to better coordinate with financial institutions, the Commonwealth, and states and territories, to detect and mitigate the risks of cyber security incidents, frauds, scams and other malicious cyber activities.

International corporate tax reforms - consultations

04 October 2022

The Albanese Government has opened consultations on international corporate tax reforms as part of its commitment to ensuring multinationals pay their fair share of tax.

During the election campaign, we announced our support for the OECD/G20 two-pillar solution on reforms that included a global minimum corporate tax rate of 15 per cent.

Responding to the challenge of de-banking

03 October 2022

The Albanese Government welcomes the Council of Financial Regulators’ paper on potential policy responses to address the problem of de‑banking in Australia.

De‑banking, where a bank declines to offer or withdraws banking services to a customer, can have a devastating impact on businesses and individuals. It can also put a handbrake on competition and innovation in emerging sectors of the economy.

European Bank for Reconstruction and Development nomination

30 September 2022

Today I announce Ms Katherine Tuck has been nominated as the full‑time Director to the European Bank for Reconstruction and Development (EBRD) commencing from 16 January 2023 to 31 July 2024.

Work commences on Employment White Paper

29 September 2022

The Albanese Government has today released the terms of reference for the Employment White Paper that will guide the future of Australia’s skills and labour market.

Final Budget Outcome 2021-22

28 September 2022

The Final Budget Outcome for 2021-22 shows an improved Budget position last year off the back of a near-term boost in revenues and delays in payments and projects.

Proposed community bank mergers

23 September 2022

Today I am announcing my approval of two proposed mergers of customer‑owned community banks under the Financial Sector (Shareholdings) Act 1998, the Financial Sector (Transfer and Restructure) Act 1999, and the Banking Act 1959.