Australia politics live: Chalmers bullish on economy despite weak GDP data; Pocock scores Senate win on aged home care bill | Australia news

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Jim Chalmers says economy in an ‘enviable position’ after latest GDP figures

Jim Chalmers says the latest GDP figures are very welcome and shows the Australian economy is gaining momentum.

To recap, the latest national accounts figures showed the economy expanded by a stronger than expected 0.6% in the three months to June, thanks almost entirely to a big jump in consumption. But Australia did recorded its weakest year-on-year growth since the early 1990s, excluding the pandemic, with real GDP in 2024-25 climbing by just 1.3%.

Speaking to reporters in Parliament House, Chalmers says the growth has come from the private sector, as well as an increase in household spending – which he attributes to higher wages and tax cuts.

Our economy is in an enviable position despite all our challenges that we acknowledge and are upfront about, the comparisons with our peers show that we are in an enviable position.

Consumption is growing because real incomes are growing.

The treasurer, Jim Chalmers.
The treasurer, Jim Chalmers. Photograph: Mick Tsikas/AAP
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Amanda Meade

Amanda Meade

The court should take into account the significant pressure placed by former ABC chair Ita Buttrose on ABC management to sack Antoinette Lattouf and fine the broadcaster up to $350,000, the federal court has heard.

“The imperatives of deterrence call for [an] aggregate deterrent penalty in the range of $300,000-350,000,” Lattouf’s legal team has submitted in documents released by the court.

The ABC’s financial position and resources, as well as those of some of its competitors, indicates that higher penalties are required to achieve specific and general deterrence.

The ABC is asking the court to find it is liable for the much smaller penalty of up to $56,000.

The hearing has adjourned for lunch.

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