The ‘confronting’ World News Treasurer Jim Chalmers has been foreshadowing has arrived, with revised forecasts taking in inflationary pressures and global forces set to hit Australia’s economic growth.
The federal treasurer has repeatedly stressed households and the economy will take a hit, labelling , interest rates and government debt and the outlook for economic growth ‘confronting’.
On Thursday in his first statement on the economic outlook to federal parliament he will reveal the economic pain he has alluded to.
‘The headwinds our economy is facing – higher inflation at the Top News of that list, along with slowing global growth – are now reflected in the revised economic outcomes and forecasts,’ Dr Chalmers will say.
Jim Chalmers has already warned he will deliver a ‘confronting’ economic outlook on Thursday