Labor’s Jim Chalmers, Coalition’s Angus Taylor face off in Treasurer’s debate

Australia’s next Treasurer will be tasked with guiding the nation through a “pivotal moment”, as two key issues inflame an increasingly uncertain global environment, the Business Council of Australia boss has declared.

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.”

Angus Taylor and the Coalition are pushing Australia’s lagging productivity as a reason to boot Labor from government. Picture: NewsWire / Martin Ollman — Angus Taylor and the Coalition are pushing Australia’s lagging productivity as a reason to boot Labor from government. NewsWire / Martin Ollman Credit: News Corp Australia

Treasurer Jim Chalmers says Labor’s economic record warrants a second term in government. Picture: Mark Stewart / NewsWire — Treasurer Jim Chalmers says Labor’s economic record warrants a second term in government. Mark Stewart / NewsWire Credit: News Corp Australia

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.”

More to come