Labor’s first budget is going to be released tomorrow with much speculation of what’s going to be included. Jim Chalmers stating in the lead up, this is not going to be a “fancy” or “flashy” budget.
Some experts believe the weight of the one trillion dollar debt which Labor has inherited from the previous government and said will weigh down this years budget has been blown out of proportion. As within a global context, Australia’s debt figures are relatively low and unsurprising to accumulating this much debt given the circumstances from the past two years.
Image: Image: Shutterstock: wrangler
Produced By: Claudia Copeland
Featured In Story: Sarah Hunter – Senior Economist and Partner of KPMG, and Tim Harcourt – Professor & Chief Economist at the Institute for Public Policy and Governance at UTS
First aired on The Wire, Monday 24 October 2022