Federal election 2025: Chalmers, Taylor face off in Treasurer’s debate

Labor Treasurer Jim Chalmers and Coalition treasury spokesman Angus Taylor faced off at the Park Hyatt in Melbourne on Wednesday at a debate hosted by the business council, where they were tasked with answering questions from business leaders.

Kicking off the event, BCA chief Bran Black said the business sector had been rattled by the fallout from US President Donald Trump’s recent tariff announcements, and faced growing issues domestically.

“Australia’s changing demographics present a great intergenerational challenge, with proportionately fewer workers, and proportionately more retirees living longer and with increasingly costly care needs,” he said.

“Meanwhile, our average productivity growth over the last decade was the lowest in six decades, and it’s declined 1.2 per cent over the past year.”

Mr Black said the next treasurer would need to work out how to deliver “more outputs with the same or less inputs”.

“It’s critical because productivity growth and real wages growth is symbiotic, and that makes the linkage between productivity growth and our collective national prosperity iron-clad.”

Year 9 economics

In his opening statement, Mr Chalmers described the Coalition’s economic slogans as a “year nine economics” project.

“If Angus thinks there’s too much spending in the policy, he should tell us what he’s going to cut.

“Tell us where the cuts are coming from.”

Mr Taylor began his introductory remarks flagging a downgraded forecast from the International Monetary Fund, released overnight which raised Australia’s inflation forecast and lower projected GDP growth.

“We have seen the wrong priorities and the wrong decisions,” Mr Taylor said of the government’s economic strategy.

“Business investment is absolutely essential if we’re to get Australia back on track.”

Mr Taylor said a Coalition government would raise the threshold, and make the small business instant asset write-off permanent.

More to come