6 days Ago By Dylan Caporn
Jim Chalmers is working towards delivering his next budget in March, despite speculation Anthony Albanese will call the election early to avoid handing down a growing deficit. Speaking to Sky News on Sunday, the Treasurer said the government was “doing a lot of work” on the Budget, as well as preparing the mid year financial update, which is due to be released on Wednesday. “Of course, I see the commentary, and I see that the pundits and all of the rest of it, speculating, as they always do it, understandably, about the timing of the election,” Dr Chalmers told Sky News.
“The timing of the election is up to Anthony from my point of view, and Katy Gallagher’s point of view. “We’re certainly preparing for a budget in March, and that budget will be like the others. “It will be defined by responsibility and sustainability, trying to get the budget in much better nick, taking pressure off inflation and making room for our priorities, including doing the right thing by people who served our country in uniform.
” It was revealed on Sunday, the Government’s payouts to thousands of veterans’ compensation claims had blown out the budget bottom line by $1.8bn, But Dr Chalmers, who refused to reveal if Wednesday’s update would show increased deficits over the next four years, played down expectations he was adjusting his budget timeframe for an election. “We’re doing a lot of work on it already,” he said.
“We’ve been working simultaneously on the mid-year budget update, which we released on Wednesday, and the budget that we’re preparing for March. “We work around the clock and around the year on these budgets.” Appearing on Sky following Dr Chalmers, Shadow Treasurer Angus Taylor took aim at Labor over increased spending, saying the budget was “falling off a cliff”.
“This is a disastrous budget situation which reflects the government taking us on a pathway to economic ruin,” he said. Max Corstorphan.
