Treasurer Jim Chalmers has labelled this week “really important” for the Australian economy, with the third interest rate cut in six months delivering meaningful cost-of-living relief for households.
Mr Chalmers said today’s encouraging wages data should be seen in the same light as part of a broader push to ease financial pressures while supporting growth.
“We are making progress,” he said, “but growth in our economy is not where we need it to be.”
He added that productivity will be the major focus of the upcoming Economic Reform Roundtable — a key step towards making the economy more sustainable and lifting living standards.
In the lead-up to the roundtable, Mr Chalmers welcomed what he called “real progress” this morning, citing the Australian Securities and Investments Commission’s new ruling, RJ97. The rule requires investors to declare their stamp duty costs when purchasing housing, acting as a deterrent for overly competitive investors in the market.
The Treasurer said the reform forms part of ongoing engagement aimed at boosting transparency, fairness, and long-term resilience in the housing sector.