Australian news and politics live: Jim Chalmers claims proposed super tax change is ‘modest’ in new push

Richard Marles has sured up South Australia’s role in building submarines in the future, saying the build will be the “biggest industrial endeavour” in the nation’s history.

The Deptuy Prime Minister said South Australia would continue to be a hub for building submarines.

“In terms of South Australia, the maintenance of the commons class submarines continues here in South Australia, there’s no question about any of that, that’s a clear commitment and that’s what’s happening going forward,” he said.

“This is the state which is going to build our future submarines.

“The building of those submarines will be the single biggest production facility in the country in any industrial capacity. It represents the biggest industrial endeavour that our nation has ever undertaken.”

Deputy Prime Minister Richard Marles has congratulated newly appointed Greens leader Larissa Waters.

Mr Marles said despite the differences between Labor and the Greens, he thought anyone becoming a leader of their party deserved a congratualtions.

“On this day it is right to acknowledge and congratualte Waters on becoming the leader of the Greens,” he said.

“It’s obviously a significant achievment for any person to lead their political party, as Senator Waters is now doing.

“I definitely congratulate in respect of that and we will see what her leadership brings as it unfolds for the Greens.”

Dr Chalmers has fielded a number of questions about Labor’s super tax bid, which would mean earnings on balances over $3m are taxed at 30 per cent, up from 15 per cent.

The Government couldn’t get the support from either the Greens or the Coalition in the last Parliament, but is determined to forge ahead with the plan.

Now the election is over and Labor have at least 94 seats, the plan is back in the spotlight and copping heat.

Dr Chalmers says it’s “a very modest change” that will impact half a per cent of people with superannuation accounts.

“This is an important part of our efforts to make the budget more sustainable, and to fund our priorities, including strengthening Medicare, providing cost-of-living relief,” he said.

“It’s responsible, it’s modest, it only applies to a tiny sliver of people, and it’s still concessional.”

Asked why the Government wasn’t looking to index the tax rate increase, Dr Chalmers says there’s nothing to stop future governments lifting the threshold.

“Governments of either political persuasion into the future can take decisions to lift the threshold. We’ve seen that as I said in other parts of the tax system,” he said.

Treasurer Jim Chalmers has been speaking in Brisbane about the Government’s submission to the Fair Work Commission for an “economically sustainable real wage increase” for award workers.

He says that he won’t put a number on how much wages should increase by, but a real wage increase would be above inflation.

Dr Chalmers says he had consulted with Reserve Bank Governor Michele Bullock as the Government finalised its submission, “to make sure that what we are proposing is responsible”.

“It’s sensible, it’s sustainable, and it’s consistent with inflation being sustainably in the Reserve Bank’s target band, and I’m really confident that it is,” he said.

Last year, the FWC greenlit a 3.75 per cent pay rise for the 2.9m award workers.

Inflation was 2.4 per cent in the year to March, and 2.9 per cent in underlying terms.

The Federal Government have asked the Fair Work Commission to deliver an “economically sustainable real wage increase” to the country’s low-paid workers.

Treasurer Jim Chalmers and Employment Minister Amanda Rishworth made their submission to the commission on Friday, saying their recommendation would bolster the wages of three million award workers, including cleaners, retail workers, and early childhood educators.

“An increase in minimum and award wages is consistent with inflation sustainably remaining within the RBA’s target band and will provide further relief to lower income workers who are still doing it tough,” the pair said in a statement.

“This position is both economically responsible and fair. It will ensure low paid workers can get ahead as inflation moderates and real wages continue to grow across the economy.”

New Greens leader Larissa Waters says the party can “walk and chew gum” and pursue environment reform at the same time as taking a strong stance on social justice issues.

The Queensland senator was unanimously elected to lead the party after the shock defeat of Adam Bandt at this month’s election, where two other lower house MPs also lost their seats. Some have attributed these losses to the party’s shift away from its environmental roots.

Senator Waters said the Greens won’t “resile” from its “strong stance on social justice issues”.

“We’ve always stood for the planet, but we have always cared about people and our policies have always addressed free education, properly funded health care, integrity and politics, making sure that people have their daily needs met,” she told ABC Radio.

She said the Greens’ stance on Gaza would not change, and denied the party was anti-Semitic.

“We want peace in that region, and we want kids and women and everyone in that region to have self determination for what comes next for them,” she said.

“It’s heartbreaking stuff, and when we’ve got still a role to play there, in sending a strong message on this global conflict, this is genocide that’s unfolding.

“Australia’s got to be a bit stronger, and we can’t keep sending those weapons components to that part of the world.”

Australian entrepreneur Gerry Harvey, chair of retail group Harvey Norman, has put Treasure Jim Chalmers on notice, warning people will pull their money out of super due to the proposed unrealised capital gains tax plan.

Mr Harvey called the proposed tax “stupidity of the highest order”.

“The inevitability about all this is that the government has to raise taxes because they can’t stop spending,” Mr Harvey told The Australian.

He went on to say the Albanese Government were “desperate for revenue”.

Mr Harvey said he was aware of people who would need to pull out money if the proposal goes ahead.

The Greens are pledging to get back to their “core business” under the fresh leadership of Larissa Waters.

Strong action on climate change and social justice policies will be priorities for the party after it was forced to find a new leader following the shock defeat of Adam Bandt at the federal election.

“I commit to you that as a former environmental lawyer, as a proud feminist, that I will always work for equality, and I will always work for nature and for the community and to help people,” Senator Waters said in Melbourne after her elevation to the top job on Thursday.

Environmental groups welcomed the comments after the Greens were accused of straying from their party roots and getting distracted by other progressive causes.

“We think this is a welcome sign that the Greens are getting back to core business, which is protection of climate and the environment,” the Australian Conservation Foundation climate and energy program manager Gavan McFadzean told AAP.

“In terms of their campaigns and their public work, I think it would be good for them to have a stronger focus on climate and environment this term.”

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Ms Ley was asked what she wanted to change after women and young Australians “abandoned” to Coalition in the 2025 Federal election, revealing the “agenda” she wants promoted.

“I worry about women and the hard work they do in balancing work, family, childcare, aged parents (and) the mortgage,” Ms Ley said.

“I met many women in those situations, and I reflected on my life through my own journey, which is not dissimilar.

“It is tough when you are doing all these things, and you are busy every single day, and you are working incredibly hard with your family, with your children, with your parents, volunteering in your community, being part of the amazing society that Australia is.

“I want to make sure that our policy agenda, that we work very hard as a team to develop, meets modern women, indeed all Australians where they are.

“What I can do in leading that team, is harness the amazing talents that every single member of my team has to promote that agenda.”

When asked about growing talk that the National Party might be opting out of the Coalition, new Opposition Leader Sussan Ley has refused to share details of a conversation she had with the party’s leader David Littleproud.

“I won’t talk about the private discussions I had with David,” Ms Ley told Sunrise.

“He travelled to meet me in Albury and I’m grateful to him for that because of my personal circumstances.

“We had productive conversations. We had a good first meeting. It certainly won’t be th last.

“I won’t talk about what we discussed.

“But I will say this, the thing that unites our party room and unites Liberals and Nationals is that we are here to work very hard for the Australian people, and that’s what drives me every single day.”