Australia's Labor government said on Wednesday the billions in cost-of-living relief unveiled in the federal budget for families and businesses will not worsen inflationary pressures and put more pressure on the central bank to lift rates further.
Australia on Tuesday boasted the first budget surplus in 15 years after its coffers swelled from bumper mining profits and a strong job market, with unemployment now at near 50-year lows of 3.5%, boosting income tax while curbing welfare payments.
