IMF outlook for world economy could herald dark clouds for Australia

The Australian treasurer, Jim Chalmers, may have to add real estate to his list of economic worries as dwelling values plummet. Photograph: Dan Peled/Getty Images

Incoming treasurers invariably discover “black holes” in inherited budgets and then accentuate the economic negatives to lower the bar for future comparisons.

In Jim Chalmers’ case, expect an array of perceived budgetary bungles over the past decade of Coalition rule to be revealed ahead of his October debut budget.