Treasurer Jim Chalmers says the pressures on the May budget are “well-known and well-understood”.
“The budget that I hand down on Tuesday needs to grapple with three sets of interrelated challenges,” Mr Chalmers said during a media conference on Thursday.
“We’ll take the pressure off the budget in some areas and there will be additional pressures on the budget in other areas and we will make room for important priorities.”
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jim Chalmers ‘not happy’ about interest rate hike for his budgetHerald Sun Business Commentator Terry McCrann says Treasurer Jim Chalmers was “not happy” about Tuesday’s interest rate rise and didn’t incorporate it into his budgetary thinking.
Read more »
Lowe confronted after rate rise as Chalmers concedes Aussies are ‘under the pump’Treasurer Jim Chalmers said the government would provide “substantial cost of living relief” but avoid adding to inflationary pressures amid another rate rise from the Reserve Bank of Australia.
Read more »
Everything in the budget for you (so far)Treasurer Jim Chalmers will hand down his second federal budget on Tuesday. Here’s what we know is set to be included.
Read more »
Australians living ‘under the pump’ amid interest rate risesThe Reserve Bank’s shock interest rate rise was a “pretty blunt and pretty brutal” reminder of the pressures in the Australian economy right now, according to Treasurer Jim Chalmers. “Particularly this inflation challenge that your viewers are feeling everyday intense cost of living pressures and that’s why that will be a key focus of the budget that I hand down in less than a weeks time,” Mr Chalmers told Sky News Australia. He said the Albanese government recognises that Australians are “under the pump”. “My job in the budget is to show enough restraint that we can get the budget onto a more sustainable footing at the same time as we provide this cost of living relief for people who are doing it tough,” Mr Chalmers said.
Read more »
‘Brutal reminder’: Chalmers’ budget warning after RBA shockIn the wake of the Reserve Bank’s resumption of interest rate rises, the treasurer has warned that fighting inflation comes ahead of demands to increase welfare spending.
Read more »