The Australian government has announced plans to abolish cheque usage by 2030 as part of a strategic plan to modernise the country’s payment system. The announcement was made on June 7 by Treasurer Jim Chalmers, who stated that cheque usage had decreased by 90% in the past ten years due to the adoption of digital transactions. The government will cease using cheques and move to new forms of payment by 2028. The transition will be gradual and coordinated, ensuring that every Australian receives the necessary support to transition away from cheques. The move has been welcomed by the Australian Banking Association, which said it was a long overdue overhaul of the payment system and would create a stable and robust financial system. Furthermore, Chalmers announced an update to the Statement of Expectations for the Australian Prudential Regulation Authority, requiring the agency to consider climate change risks as part of its work. The government will continue supporting access to cash and is not examining the findings of an investigation into bank branch closures in regional areas.