Federal Treasurer Jim Chalmers is heading abroad on Sunday to symbolize Australia on the G20 Finance Ministers and Central Bank Governors conferences in Gandhinagar, India.
“As nations continue to grapple with the challenges of high inflation and slowing global growth, now is an important time to convene with my colleagues,” says Dr Chalmers.
“Australia is not immune from the uncertainty in the global economy but with more Australians in work than ever before, record high labour force participation and wages growing in welcome ways, we are better placed than most other nations to deal with the challenges ahead of us.
“This meeting will give us new perspectives on global economic challenges and help us ensure that we continue to carefully calibrate our budget and our economic plan to the challenges we face in the future.”
On Saturday Dr Chalmers instructed the ABC the journey wouldn’t be awkward, regardless of travelling with Reserve Bank of Australia governor Philip Lowe.
It comes after Dr Chalmers introduced on Friday the federal government wouldn’t be renewing Dr Lowe’s tenure after seven years within the position.
“One of the really wonderful things about how this appointment was made is the very supportive way that Philip Lowe backed in our choice of Michelle Bullock to succeed him at the Reserve Bank,” Dr Chalmers stated.
“He is behaving in an impeccable, dignified way.”
Philip Lowe is the primary governor in almost 30 years to not have his tenure prolonged.
Michele Bullock will turn out to be the ninth governor of the RBA, along with her seven-year time period starting on September 18.
Source: www.news.com.au
