Jim Chalmers says spending restraint in the face of skyrocketing inflation has defined the Albanese government’s first budget, as the country faces a “complex combination” of economic pressures that pose further risks to households.
Delivering the first Labor budget in almost a decade on Tuesday, the treasurer also flagged the need for tax reform in this term of government to be able to put the budget on a more sustainable footing as spending pressures mount and government debt and deficits worsen across the forward estimates.
