Flat White Politics

Jim Chalmers: the unsustainable Treasurer

Could he be the next Prime Minister?

18 June 2025

10:27 PM

18 June 2025

10:27 PM

From the National Press Club: Today I had an opportunity to ask the Treasurer, Dr Jim Chalmers, a question on the sustainability of his budget. He admitted that it is not sustainable enough, or resilient enough, or enough already. It’s not good. I think he is shaping up to become Prime Minister. In the absence of a good Prime Minister, I reckon Jim Chalmers would do alright. Nobody could be worse than Elmer Thud.

It is a weird time for the Treasurer. He is genuinely likeable and probably a bit loyal. I share with him the same doctorate in the same discipline from the same university (and indeed with some of the same professors). Jim Chalmers even wrote the foreword to one of the books I edited honouring my doctoral supervisor and dear friend. I like Jim Chalmers a lot. I’d be okay if he ousted Elmer Thud.

Our politics, however, are very different.

As my boss said today at my farewell do at the University of Canberra (from July I am semi-retired after 15 years in the military and 20 years in academia), it is a good thing for liberal democracy that we can have discussions where we disagree. This is a lost art in many cases and for a multitude of reasons.

As an aside, I am annoyed that Peter Dutton deliberately avoided addressing the National Press Club during the recent election campaign. Angus Taylor turned up.

But there’s a hostile misconception about Canberra and academics and journalists and public servants that effectively hands these professions to Labor. The truth is it’s a self-fulfilling prophecy.

If the Coalition could be bothered to engage with academics, journalists, and public servants, conservative politicians might come to understand that, almost to a fault, conservative academics, journalists, and public servants (these people actually exist, and they are not a minority) get tired of waiting to be engaged by a political movement that is fast approaching the end of its useful life. The Treasurer is all over this fact and plays a straight bat so as not to isolate anyone in these crucial political positions.

Prime Minister Albanese, on the other hand, is involved in a long, slow accident overseas. Not only will he be reinforcing his Airbus Albo moniker, but he looks like a complete goose after he was rejected by President Trump, rejected by the G7 dinner organisers, and now is likely to chase Nato to try to get a meeting with President Trump.

This is Jim Chalmers’ leadership moment like Cyclone Tracy was Jim Cairns’ leadership moment. In light of a pathetic opposition, it couldn’t come soon enough. If only Jim Chalmers could take on the role of an Australian Prime Minister who wasn’t hell-bent on advancing communism.


I actually wrote to President Trump recently, raising my concerns about Australia ‘becoming increasingly socialist and anti-free speech’. I asked the good President:

‘At what point will Australia’s restrictions on freedom of speech prompt the United States to consider diplomatic action?’

I like to think President Trump actually read my letter. One can dream, of course. But the way Albo was treated is consistent with my wishes, so there’s that.

Back to the Press Club. I was on the phone annoying our esteemed Flat White Editor, Alexandra Marshall, as I drove down to Canberra on Tuesday expecting to be journo #23 and not to get to ask the Treasurer a question.

As I was apologising to a good mate and co-author that I wouldn’t be in Gunning for his visit on his way back to Sydney from Canberra, Johnny reminded me that the Treasurer was speaking on Wednesday, not Tuesday. I honestly had no idea what day it was.

So, my mate Johnny got a tour of the Press Gallery and the Press Club.

As luck would have it, an esteemed and likeable member of the journalistic hierarchy approached me while I was having a drink with Johnny at the Press Club and asked if I was coming tomorrow. I said, ‘Well, actually, I thought it was today. But yes, I will be back tomorrow.’

He said to me, ‘Good, because I am bumping you up for the questions tomorrow.’

I thought to myself, ‘Thank God!’ Then I began the struggle to find several questions to ask the Treasurer the next day.

As a doctoral candidate at ANU, it was a requirement that you attended every seminar, and you had to ask a question of the presenter. I have enforced this rule even with my undergraduate students because the process is an important skill. You have to think while the presenter is speaking, listening and analysing simultaneously, and come up with a question that raises important issues and points out inherent faults all while not making you look like a goose.

At least academics rise to a challenging question. Once they become politicians, however, it goes something like this:

Tom Connell: Michael de Percy from The Spectator Australia.

Michael de Percy: Michael de Percy, The Spectator Australia. Treasurer, the UK was decisive in increasing their defence budget. They did this in a budget neutral way by reducing or cutting foreign aid expenditure so it’s pretty obvious with what’s happened in Canada in the last few days, if Australia wants a seat at the table, we’re going to have to ramp up our defence spending. If we don’t, we won’t have access to the US, if we don’t, we’ll need to ramp up our expenditure. So, if that’s the case will you cut spending, increase taxes, accumulate more debt, or are you going to leave defence spending as it is right now?

Treasurer Jim Chalmers: Lorem ipsum dolor sit amet, consectetur adipiscing elit. Increasing our defence commitment. Ut elementum eros in ex tincidunt tincidunt. Investment in our national security. Aenean non quam bibendum, rutrum diam a, ultrices est. Investment in our region. In justo diam, faucibus at velit at, feugiat rhoncus nunc. Fusce auctor ac mi vel mattis. Understand the risks in the 202os and 2030s. Mauris imperdiet nisl felis. Pellentesque sed ullamcorper risus, ac suscipit enim.

Bingo! All the management-speak words in one paragraph.

What did I learn at the National Press Club today?

Honestly, Press Club Executive Chef, Daren Tetley, is a genius. Today’s menu of char-grilled beef tenderloin, sauce romesco, kipfler potato, parsnip chips, and green olive, caper, mint and dill salsa verde was divine. The pinot noir was the perfect accompaniment to the meal. Why am I telling you this? First, it’s actually really good. I’ve been going to the Press Club for over 25 years now and it’s always been good. But Daren is next level.

Our budget outlook, however…


Dr Michael de Percy @FlaneurPolitiq is the Spectator Australia’s Canberra Press Gallery Correspondent. If you would like to support his writing, or read more of Michael, please visit his website.

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