Treasurer Jim Chalmers plays down leaked advice to raise taxes and cut spending
Published 14 July 2025, 9:10 am
Leaked documents show Treasury advised the government to raise taxes and cut spending after the election. It's prompted concerns the sustainability of the budget, and that an ambitious plan to build 1.2 million homes in five years could fail.
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The Australian
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- The Australian
AI elephant in the boardroom: future workforce is here
There's an elephant in the boardroom. It's not politely waiting for your digital transformation strategy. It's already reshaping how work gets done, who does it, and what 'a job' even means. That elephant is artificial intelligence. While most leaders are fixated on generative tools and productivity boosts, few are confronting the deeper workforce transformation under way. AI is not just a technology shift. It's a workforce reckoning and for many leadership teams, it's still sitting in the too-hard basket. But the future has already arrived. The apprentice model is breaking Our traditional model of career development — learning by doing, gradually gaining experience and judgment — is under threat. Junior roles are often the first to be automated. In law, AI now summarises case law and drafts contracts, work previously done by graduates. In accounting and consulting, it automates reconciliations, analysis, and reporting. If AI does the 'doing,' how do emerging professionals learn? We continue to prepare workers for roles that may soon be obsolete, while under-investing in the capabilities humans will need most in an AI-enabled world: judgment, adaptability, ethical reasoning, creativity and critical thinking. These skills are essential to critique, shape and responsibly integrate AI into our world. Dr Kellie Nuttall is AI Institute Leader at Deloitte Australia Without redesign, we risk a generation of leaders who've never developed the judgment to lead. Doctors, for example, may become passive interpreters of AI diagnostics, unable to navigate the complex decisions patient care demands. This shift isn't limited to medicine or law. Even some of the world's leading AI companies are hiring fewer traditional tech grads. Why? Because the skillset that matters most in an agentic AI world isn't just code — it's systems thinking, strategic reasoning, and the ability to work across disciplines. It's many AIs per role — not one per person A single AI agent may not replace a human job, but a team of agents working together can come close. For example, a marketing co-ordinator role could be handled by five AI agents managing copywriting, campaign scheduling, data reporting, customer segmentation, and workflow orchestration. In finance, AI agents could process sales end-to-end — validating transactions, recording them in accounts, reconciling data, monitoring compliance, and generating reports. We might start the journey with one human worker replaced by a digital one, but behind that 'one' will be an ecosystem of agents. Suddenly, the whole notion of traditional organisational structures needs to be rethought entirely. 'New jobs will emerge' is not a strategy We often hear that, like the Industrial Revolution, new roles will appear. That may be true. But what are they? Who will be qualified for them? How will people be trained to do them? 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About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ('DTTL'), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. Please see to learn more. Copyright © 2025 Deloitte Development LLC. All rights reserved. -
The Australian
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Once organisations overcome these barriers to scale (and they will) to execute deployment in accordance with a top-down strategy, the technology's productivity benefits will become truly visible. Stephen Gustafson is CFO Program Leader at Deloitte Australia. - Disclaimer This publication contains general information only and Deloitte is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional adviser. Deloitte shall not be responsible for any loss sustained by any person who relies on this publication. About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ('DTTL'), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. Please see to learn more. Copyright © 2025 Deloitte Development LLC. All rights reserved. -
SBS Australia
6 hours ago
- SBS Australia
Treasurer Jim Chalmers plays down leaked advice to raise taxes and cut spending
Treasurer Jim Chalmers plays down leaked advice to raise taxes and cut spending Published 14 July 2025, 9:10 am Leaked documents show Treasury advised the government to raise taxes and cut spending after the election. It's prompted concerns the sustainability of the budget, and that an ambitious plan to build 1.2 million homes in five years could fail.
