‘Out of his depth’: Jim Chalmers launches fiery press conference attack on Queensland Treasurer

Federal Treasurer Jim Chalmers has launched an extraordinary broadside at Queensland Treasurer David Janetzki, as the two openly clash about the Productivity Commission's long-anticipated inquiry into the Goods and Services Tax distribution deal.

GST income distribution has long been a tense issue, with a 2018 reform guaranteeing a minimum share of GST revenue for all states and territories - which significantly benefited Western Australia and disadvantaged Queensland and New South Wales.

Queensland Liberal Treasurer David Janetzki - who has been a long-time critic of the current arrangement - accused federal Treasurer Jim Chalmers of plotting a watered-down review of the GST distribution and said the resource rich state would continue to be penalised for producing gas.

Mr Janetzki said