Labor Cuts Questions to Liberal in Parliament – Live Updates

(Canberra, 2026-02-03 05:47:00) –

Australian Treasurer Jim Chalmers is facing calls to resign amid criticism of the country’s economic management and concerns over rising inflation and government spending.

• Nationals senator Matt Canavan has demanded Treasurer Jim Chalmers’ resignation, citing economic mismanagement.
• Australia’s annual inflation rate rose to 3.8% in December, according to the Australian Bureau of Statistics.
• Concerns have been raised about the cost of the albanese Government’s battery subsidy scheme, which some claim has ballooned to $12 billion.
• Treasurer Chalmers dismissed Senator Canavan’s criticism as irrelevant.

Treasurer Jim Chalmers is under pressure to resign following accusations of economic mismanagement, as mortgage holders prepare for a potential interest rate increase. The calls for his resignation came from Nationals senator matt Canavan, who leveled the accusations on Tuesday.

Last week, the Australian Bureau of Statistics reported the headline annual inflation rate at 3.8 percent, a 0.4 percent increase over the 12 months ending in December.

Senator Canavan specifically questioned the Albanese Government’s battery subsidy scheme, alleging its initial $2.3 billion budget has been tired in six months. “How has (Mr Chalmers) possibly allowed a situation to emerge where things like a battery scheme can blow out more than $10bn in six months?” he asked, according to Sky News. He further stated the scheme’s cost is “approaching $12bn in cost in just six months,” and questioned how Mr. Chalmers could continue in his role given these figures.

“I mean, he should resign in disgrace because we’ve never seen anything like this,” Senator Canavan said.

Did you know? – Australia’s inflation rate is measured by the Consumer Price Index (CPI), tracking changes in the price of a basket of goods and services commonly purchased by households.

In response, Mr. Chalmers stated he did not care about Senator canavan’s opinion. “I listen to a lot of different voices, but (Senator Canavan’s) not a sort of a respected contributor to these sorts of things,” he told Sky News.

Why It Matters

The exchange highlights growing political scrutiny of the Albanese Government’s economic policies as Australians face increasing financial pressures from inflation and potential interest rate hikes.The controversy surrounding the battery subsidy scheme raises questions about fiscal responsibility and project management within the government.

Pro tip – Monitoring inflation rates and government spending is crucial for understanding the health of a nation’s economy and its impact on personal finances.

Time.news based this report in part on reporting by Sky News and added independant analysis and context.

Here’s a breakdown of the answers to your questions, integrated into a substantive news report:

why: nationals Senator Matt Canavan is calling for Treasurer Jim Chalmers’ resignation due to accusations of economic mismanagement, specifically concerning rapidly rising inflation and the escalating costs of the Albanese Government’s battery subsidy scheme.

Who: The key players are treasurer jim Chalmers,who is facing the criticism; Nationals Senator Matt canavan,who is leading the calls for resignation; and the Australian Bureau of statistics,which reported the inflation figures. The Albanese Government is also central to the story, as the battery subsidy scheme is under scrutiny.

What: The core issue is the perceived mismanagement of the Australian economy.Specifically, the annual inflation rate rose to 3.8% in december, and Senator Canavan alleges the battery subsidy scheme has ballooned from an initial $2.3 billion to potentially $12 billion in just six months.

How did it end? The immediate outcome is a public clash between Chalmers and Canavan. Chalmers dismissed Canavan’s criticism,stating he doesn’t value