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The Guardian - AU
The Guardian - AU
Business
Peter Hannam

Jim Chalmers banks on capital spending to help ease cost-of-living crisis

Jim Chalmers Paul Keating Labor ABS Brendan Rynne Joe Hockey Peter Hannam Saul Eslake Economy Income Tax
Jim Chalmers
A higher estimate of planned capital spending should improve economic efficiency and aid Jim Chalmers’ efforts to support growth while easing inflationary forces. Photograph: Mick Tsikas/AAP

The new treasurer, Jim Chalmers, is banking on a surge in capital spending to boost productivity in the economy and ease a “cost-of-living crisis”.

After the Australian Energy Regulator on Thursday lifted standard power prices by as much as 20% for some customers, Chalmers said the increase revealed “a very serious situation” and was just one of several challenges left by the Morrison government.

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