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1 week ago | 
capitalbrief.com | Finn McHugh |Jennifer Duke
Anthony Albanese has always been seen as a cautious leader. The perception of the prime minister as a safe pair of hands in uncertain times was no doubt key to Labor’s historic election win in May 2022. But the size of the victory raised questions about whether he might pursue a more ambitious agenda. Get Political Capital in your inboxSigned up to Political CapitalA twice-weekly newsletter that takes you inside the corridors of power. It's what Canberra is reading.
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1 week ago | 
capitalbrief.com | Jennifer Duke
“The rules and ideas that made up what we thought of as the global order are being re-written. This is the fourth economic shock now in less than two decades, a near permanent state of upheaval.”To increase resiliency, he will point to plans to secure capital, shore up supply chains, build partnerships in the region, diversify trade and modernise the economy.
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1 week ago | 
capitalbrief.com | Jennifer Duke
Jim Chalmers is not exactly the darling of corporate Australia right now. But there are good reasons to believe the federal treasurer won’t stand in the way of a $30 billion bid for ASX-listed oil and gas major Santos, despite the political challenges it may entail. Every Treasurer faces a moment like this, and it’s not unheard of for one to go against the advice of the Foreign Investment Review Board (FIRB), which will make its own assessment of the merits of the deal.
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1 week ago | 
capitalbrief.com | Jennifer Duke
Treasurer Jim Chalmers will lay out the Albanese government's second term economic agenda in a speech to the National Press Club this week, just as the escalating conflict between Israel and Iran further clouds the outlook for global growth. Here’s what you need to know about the key economic data releases this week.
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2 weeks ago | 
capitalbrief.com | Jennifer Duke
The only certainty in the global economy is that another crisis is always lurking right around the corner. Israel’s attacks on Iran today are a reminder that the new era of permacrisis and uncertainty is far from over. Aside from the humanitarian and political implications — Foreign Minister Penny Wong says the development has “alarmed” the Australian government, though it understands the threat of Iran’s nuclear program — there are clear financial concerns too.
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2 weeks ago | 
capitalbrief.com | Jennifer Duke
He said there was “little room for complacency” given the market stabilisation was due to the pause on the implementation of tariffs. Given there is the potential for market disruptions to spill over into the Australian market, he said the RBA was “prepared for periodic disruptions”, particularly in a period of increasing supply and leverage in global bond markets.
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2 weeks ago | 
capitalbrief.com | Jennifer Duke
The business community will push for a corporate tax cut at the upcoming productivity summit, following formal submissions warning that Australia is falling behind in global competitiveness. Rising tax burdens on companies and individuals, along with the challenge of red tape, have been cited in submissions to the Productivity Commission’s inquiry into business and economic dynamism. Business lobby leaders and policy groups now want the August summit to broaden its focus to include tax reform.
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2 weeks ago | 
capitalbrief.com | Jennifer Duke
A group representing renewables investors and developers wants foreign investment rules overhauled to speed up projects. The Clean Energy Investor Group, which represents developers and investors overseeing more than $20 billion in renewables assets, has joined the push for an overhaul of Australia's foreign investment laws.
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2 weeks ago | 
capitalbrief.com | Jennifer Duke
It was a mic drop moment for women in economics at the National Press Club this afternoon as Prime Minister Anthony Albanese announced that Jenny Wilkinson will become the first female Treasury secretary. Wilkinson joins the ranks of the Reserve Bank governor Michele Bullock and the Productivity Commission chair Danielle Wood in terms of influence over Australia's economic policy. It is the first time all three roles have been filled by women.
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2 weeks ago | 
capitalbrief.com | Jennifer Duke
The news: Department of Finance secretary Jenny Wilkinson will replace Steven Kennedy as Treasury secretary, Prime Minister Anthony Albanese announced on Tuesday. Kennedy will become secretary for the Department of Prime Minister and Cabinet, replacing Glyn Davis. The context: Wilkinson will be the first woman to take on the role of Treasury secretary. She has long been considered a potential successor to Kennedy, having been a former Treasury deputy secretary during the pandemic period.
