Chalmers warns of economic pressures but rules out recession planning

Summarised from 2 outlets · Updated 4 Oct, 04:54 · Archive

Australian Treasurer Jim Chalmers warns of substantial economic pressures but says he is not planning for a recession.

Australian Treasurer Jim Chalmers has warned of 'very substantial and intensifying' economic pressures on the horizon as he prepares the federal budget's mid-year update. He has called on critics of government spending to name which services should be cut, and insists he is not planning for a recession despite the challenges ahead.

Chalmers has denied that the Albanese government's spending is fueling inflation, pointing the finger at the private sector instead. The treasurer cited global economic turmoil and the Middle East conflict as sources of pressure on the federal budget.

How it is being reported

• Jim Chalmers under fire over inflation as he insists Labor spending is not the main cause of soaring pricesDaily Mail · 4 Oct, 04:40
• Chalmers says global economic turmoil will drive budget cuts, but Australia should avoid recessionGuardian World · 4 Oct, 02:41

In this story: Jim Chalmers · Albanese government · Australia

This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem