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‘Textbook fiscal policy’ from Labor about getting economy ‘in nick’

Chalmers is asked whether it’s possible to control inflation without the unemployment rate growing further.

Remains to be seen.

We’ve got the budget in better nick, not the expense of the economy but in addition, and cost-of-living help is targeted in out-of-pocket health costs, electricity, rent and some particular pressure points. We found $40 billion of savings over two budgets compared to zero in savings in the last Liberal budget.

So all of those things are about get getting the economy in nick at the same time we provide help for people to get through through a difficult period.

The point that Michele Bullock was making in that speech, which, again, I think is relatively uncontroversial, is that as the Reserve Bank forecast and the treasury forecasts, have inflation moderating in coming months, they have a tick-up in unemployment. I’ve been upfront. The challenges in the economy are unsubstantial, globally and domestically, I think the slow-down is expected in the forecasts to be significant. That will have implications for the unemployment rate, which is the point that Michele Bullock was making.