Australian Labor under pressure as inflation spikes and budget debate intensifies
Prime Minister Anthony Albanese and Treasurer Jim Chalmers faced mounting political pressure in Australia as rising inflation and higher transport, housing and food costs prompted voters to question the government's economic management, the Guardian reported. Earlier, Chalmers had rejected calls for a formal spending cap, citing fiscal uncertainty, the Age said. The opposition, led by Angus Taylor, unveiled a $31 billion plan to cut climate programmes and redirect the savings to a tax-back guarantee, according to the Age and News. com.
au. Albanese later pledged to protect health and education funding despite the need for budget savings and criticised recent Reserve Bank of Australia rate hikes as harmful to mortgage holders, the Guardian and the Age reported. Within the cabinet, senior ministers overruled Chalmers' proposals for lower spending and new revenue measures, the Age noted.
