Tax & Spend
Australian Treasurer Says Government Spending Restraint Necessary to Beat Inflation
- Treasurer says spending restraint will continue in May budget
- Inflation still the defining global economic challenge
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Australian Treasurer Jim Chalmers promised the government would deliver a “responsible” budget to avoid stoking further inflationary pressures in the economy.
In an interview with Bloomberg Television, Chalmers said the government intends to follow the same cautious approach it took at its first fiscal set piece in October. Back then, it opted to put back most of its commodities windfall into the budget rather than use it to fund spending programs.