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Australia news live: Chalmers says taxes lower than under Howard as cash rate…

Chalmers said he doesn’t believe inflation is out of control, but he doesn’t want to see Australians “carry the can for decisions” on the other side of the world.

The treasurer is appearing on what seems like

The treasurer is appearing on what seems like every television and radio program this morning to tout the government’s record on the economy while acknowledging the difficulties reining in inflation amid a cost of living crisis.

He said a lot of Australians are bracing

He said a lot of Australians are bracing for an almost certain Reserve Bank interest rate increase today, adding the government sees taming inflation and keeping unemployment low as “two important objectives”.

And that’s equally important in the Reserve Bank’s

And that’s equally important in the Reserve Bank’s mandate, dual mandate, which talks about maintaining full employment at the same time as they go for price stability, which means inflation in the target band.

He defended his government’s tax receipts as a

He defended his government’s tax receipts as a percentage of GDP, saying they were lower than under the Howard government. Well, it’s still lower than what we saw under Howard and Costello, is the first point. Well, it’s still lower than what we saw under Howard and Costello, is the first point.

When asked if he would accept higher unemployment

When asked if he would accept higher unemployment in exchange for tamed inflation, Chalmers maintained the government was “not for higher unemployment”.

I think that’s pretty clear. And what we’ve

I think that’s pretty clear. And what we’ve seen in recent years is that it’s possible to have low and steady unemployment at the same time as we see inflation moderate to more normal levels.

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Australia news live: Chalmers says taxes lower than under Howard as cash rate decision due; wife of missing activist…

Chalmers said he doesn’t believe inflation is out of control, but he doesn’t want to see Australians “carry the can for decisions” on the other side of the world.

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Source: Guardian World
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