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ABC News
ABC News
Business

The federal budget had 'tough decisions' — but it's crunch time for Australians, too

Treasurer Jim Chalmers said his first budget was one of "hard decisions for hard times".

But like Chalmers, Australians — especially those on lower incomes — are having to make their own hard budget decisions. The cost of bills are up, groceries are up, fuel is up, housing costs and instability are up, and something has to give.

The Australian economy is already in the midst of challenging financial times — spurred by the war in Ukraine, rising interest rates, skyrocketing inflation and natural disasters — and it's only going to get worse.

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