Treasurer Jim Chalmers has spoken at the National Press Club following the release of the Albanese government’s federal budget last night, addressing concerns over whether the budget package could contribute to inflation.
“One, of the total spending we announced for next year, more than a quarter of the net impact, relates to keeping existing government programs going and extending pandemic support,” Mr Chalmer said.
“Two, in total, the targeted relief that we’re delivering in 2023/24 costs around 0.1 per cent of GDP. “Three, it’s been designed to provide effective, meaningful relief to households throughout the year; not in one big hit.” “For all these reasons, the Treasury’s advice to us was that none of what we’re doing here will have a counterproductive impact.”
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