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The Guardian - AU

Business

Patrick Commins

Jim Chalmers faces a world of hard choices where the solution to one problem makes the other worse

Jim Chalmers Inflation Andrew Hauser Economy Unemployment United States Guardian Australia

Australian treasurer Jim Chalmers — Jim Chalmers has revealed his officials are downgrading their forecasts ahead of the mid-year budget update to show slower growth and higher unemployment. Photograph: Mick Tsikas/AAP

Jim Chalmers in a speech last week offered the scant encouragement that the economy would be “a bit better” in a year’s time.

Fast forward to Friday morning, and the treasurer revealed that his officials were busy downgrading their forecasts ahead of December’s mid-year budget update to show slower growth and higher unemployment.

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