The Coalition and One Nation have both called for Jim Chalmers to resign as Treasurer, escalating their attacks on his economic management amid high inflation and rates.<\/p>\n
Shadow treasurer Tim Wilson accused Mr Chalmers of having \u201cactively stoked inflation\u201d and claimed households had been left poorer under his stewardship.<\/p>\n
Mr Wilson told News24.com.au that the treasurer should be removed from the treasury portfolio.<\/p>\n
\u201cThis is a man who’s actively stoked inflation because it gives him windfall tax revenue because he can’t manage his budget,\u201d he said.<\/p>\n
\u201cHe’s both frankly lied to the public where he says he’s saving money. He says saving $2, then goes on and spends $3.<\/p>\n
\u201cHe’s actively stoked inflation, and he’s fundamentally undermined the success of this country.<\/p>\n
\u201cNow he’s announced today he’s on a sort of Argo-style salvation trip for investment because he’s created a problem of sovereign risk.\u201d<\/p>\n
Mr Wilson\u2019s attack comes after One Nation leader Pauline Hanson also demanded Mr Chalmers quit, blaming Labor for failing to bring inflation under control.<\/p>\n
The Reserve Bank on Tuesday unanimously lifted the cash rate by 25 basis points to 4.6 per cent, its highest level in 15 years and the fourth increase of 2026.<\/p>\n
For a borrower with a $730,000 mortgage, the latest increase would add roughly $1,500 a year to repayments.<\/p>\n
Ms Hanson, in a video address provided exclusively to News24.com.au following the rate decision, accused Mr Chalmers of failing Australians.<\/p>\n
\u201cJim Chalmers said rates were coming down. But today, Australians have been hit with another interest rate rise. Another Labor lie,\u201d Ms Hanson said.<\/p>\n
\u201cAnd yet again, Jim Chalmers blames everyone but himself. Labor has wrecked our economy and it needs to be fixed. Until then, people need help.\u201d<\/p>\n
Prime Minister Anthony Albanese\u2019s intention is apparently not to replace Mr Chalmers ahead of a possible cabinet reshuffle in 2026.<\/p>\n
Cabinet Secretary Andrew Charlton told News24.com.au that Mr Chalmers\u2019 role was safe and that he was doing a good job.<\/p>\n
\u201cJim Chalmers is doing an extraordinary job in very difficult global circumstances,\u201d Mr Charlton said.<\/p>\n
\u201cHe has shown a willingness to take on the big challenges facing Australia, including challenges in the housing market, difficult reforms.<\/p>\n
\u201cHe’s delivered significant cost of living relief to Australians at a time when that’s been very important.\u201d<\/p>\n
Mr Charlton has been seen as a rising star in Labor Party ranks and holds a PhD in economics from the University of Oxford.<\/p>\n
While he said Mr Chalmers has the support of the cabinet, he left the door open to perhaps taking on the treasury portfolio one day.<\/p>\n
\u201cWell, what I’m saying to you is that Jim Chalmers is doing a great job, and the whole cabinet supports Jim Chalmers,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"The Coalition and One Nation have both called for Jim Chalmers to resign as Treasurer, escalating their 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