Treasurer says ‘best way to shift the needle’ is to ‘find out where those challenges are most acute’, and ‘this is something I care deeply about’
Treasurer Jim Chalmers has revealed he will use the May budget to spearhead “a much bigger focus” on entrenched disadvantage in Australia’s most vulnerable communities to ensure people have better pathways to economic participation.
The pre-budget signalling comes as Chalmers has penned an essay for the Monthly advocating what he terms a new “values-based capitalism” for Australia. Chalmers says the Albanese government’s core mission is to “redefine and reform our economy and institutions in ways that make our people and communities more resilient, and our society and democracy stronger as well”.
The 6,000-word essay, to be published on Monday, argues economic inclusion is fundamental because it buttresses democratic stability in an age where populism and autocracy is on the march. To help combat a slide away from liberalism, the treasurer flags future co-investment with philanthropists and the private sector in “place-based initiatives where communities have the genuine input, local leadership, resources and authority to define a new and better future, especially for kids”.
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