Australia’s economy recorded just 0.2 per cent growth in the March quarter, sparking questions about the nation’s resilience. Despite the modest figure, Treasurer Jim Chalmers insists the economy is holding up well, citing improvements in inflation, wages, and interest rates.

“The Australian economic story is a very compelling one. The economy continues to grow, we’ve got inflation lower, real wages and incomes are growing, interest rates have started to come down, we’ve got the debt down in the budget. And so, overwhelmingly, Australia’s economy is performing relatively well compared with the rest of the world,” Dr Chalmers told RN Breakfast on Thursday morning.

“Even modest growth in these global circumstances is welcome. We do have a global economy which is characterised by uncertainty and volatility and unpredictability,” he said.

5 JUN - 05:49 AMKimberley Braddish

Liberals reflect after Bradfield falls to Independent Boele: ‘Sad and hurt’

Ted O’Brien expressed his disappointment after the Liberal Party lost the traditionally safe seat of Bradfield to independent candidate Nicolette Boele following a recount.

The Australian Electoral Commission confirmed on Wednesday that Boele won by a narrow margin of 26 votes after a full recount. The contest had been closely fought for weeks, with Liberal candidate Gisele Kapterian and Boele exchanging leads.

“I’m sad to see those results,” O’Brien told ABC News Breakfast.

“Of course, the party at the level of New South Wales, the division, will be reviewing those results as will Giselle who is the candidate there. So let’s wait to see how that review goes but I was sad and it does hurt to see that.”

The loss ends the Liberal Party’s 76-year hold on the Sydney North Shore seat. The recount process included a thorough review of all votes, with the AEC finding two instances of inadvertent double voting but no deliberate fraud.

Ms Kapterian has thanked the AEC for their work and said she will carefully review the two counts. The result does not affect the overall balance of power, with Labor holding 94 seats and the Coalition 43.

5 JUN - 05:35 AMKimberley Braddish

Super reform talks collapse amid tax row

Any chance of a deal between the Coalition and the Government on superannuation reforms appears to have collapsed, after Treasurer Jim Chalmers accused the opposition of not being “fair dinkum” in negotiations.

But Shadow Treasurer Ted O’Brien has pushed back on ABC News Breakfast, blaming Labor for the standoff.

“Well, I have already outlined our concerns and the Treasurer is saying he’s proceeding anyway and he’s running to the warm embrace of the Greens in the hope of just jacking up taxes,” Mr O’Brien said.

“So we’re clear with our principles. Lower taxes, simpler taxes, fairer taxes, and so that’s where we stand on it. And clearly what the Treasurer is saying is he’s not interested in lower taxes, simpler or fairer ones and that’s for him to make that decision.

“If he wants to hurt Australians with higher taxes at this stage, well, that’s on him.”

The standoff comes as the government prepares to lift the Superannuation Guarantee rate from 11.5 per cent to 12 per cent from July 2025, and to introduce a higher 30 per cent tax rate on super balances above $3 million, changes the Coalition has strongly opposed.

5 JUN - 05:31 AMKimberley Braddish

Rockliff faces defeat as Tasmania braces for election

A Liberal state minority government is in political turmoil with a premier set to be dumped by parliament and a snap election looming.

Tasmanian Premier Jeremy Rockliff faced a no-confidence motion on Wednesday, with a marathon debate expected to continue when sittings resume on Thursday morning.

The motion, put forward by the Labor opposition, appears all but certain to pass with support of the Greens and three crossbench MPs.

Mr Rockliff has conceded the numbers are against him but has vowed to “fight to his last breath” and not resign.

This stance could end up triggering an election, some 15 months after the Liberals were returned to power, governing in minority with just 14 of 35 seats in the lower house.

Labor and some of the crossbench have lashed Mr Rockliff for budget “mismanagement” and delays and cost blowouts to the delivery of two new Bass Strait ferries.