Chalmers opens door to tax changes for budget repair

John Kehoe and Michael Read

Jun 17, 2025 – 10.30pm

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Treasurer Jim Chalmers has opened the door to tax changes beyond superannuation, admitting the federal budget is unsustainable and the economy’s stagnant productivity will not deliver higher living standards for working people.

For the first time, Chalmers signalled Labor was willing to entertain tax changes beyond the planned tax rise on superannuation balances above $3 million at the government’s productivity roundtable in August, as he seeks to ensure the budget is put on sustainable footing.

John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury.

Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS.