Australia's Labor government will launch its first budget next week with warnings about global recession and tough spending choices at home, while still meeting the modest promises made to win election earlier this year.
Keen to avoid any echo of the mayhem caused by Britain's recent mini-budget, Treasurer Jim Chalmers has put the accent on "responsible" for his effort, foreshadowing restraint on spending to support the Reserve Bank of Australia's (RBA) struggle against runaway inflation.
