Jim Chalmers says he is in the “home stretch” of putting together his first major budget since Labor won the election. But don’t expect blue skies. The headwinds that were threatening to land in October are buffeting the Australian economy.
Inflation may have peaked but it’s unlikely to drop any time soon. Housing is in crisis, wages have gone backwards, more people are sliding towards poverty and those living on welfare are out of options. There is also the mounting cost of servicing the nation’s debt.
