The Federal Treasurer says his economic update to parliament will be 'confronting', as the nation grapples with the largest increase in cost-of-living pressures in two decades. Follow live.
Shadow Treasurer urges government to cut spending after revised growth figuressays while dire economic conditions aren't of the government's making, it does control how it responds.
"These are tough circumstances. There's a significant global element to it, there's no doubt about that," Taylor told ABC Radio."If we had said during the pandemic, 'We're not going to do anything until the next budget,'"What we need to see is a coherent plan, not a picture being painted."cut spending in light of the weakened growth figures.
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