Chalmers has warned that not all programs will be funded in the budget and compared the difficult decisions facing households with the government’s current budget situation.
“Our government must make the difficult decisions necessary for responsible budget repair,” he said.
“So that in the future, there is another pandemic, or another price increase, or more global pressures, future governments are not left in this situation with so many problems to solve, but so few resources to solve them.”
Treasurer Jim Chalmers says not all programs will be funded in the budget. Credit: Alex Ellinghausen
Chalmers said Labour’s options were limited by the fiscal situation, but the government would do three things to boost the economy.
One is by reducing childcare costs and reducing drug costs (which were promised in the election) to help with cost of living pressures. He also said wages will rise “over time”.
“In our first few months in government, it has become clear the scope and scale of the challenges we have left to address, some parts known, some parts hidden,” Chalmers said.
“People know that not all good ideas can be funded, and not all support programs can continue indefinitely. But there is a genuine appetite to tackle these challenges, a broad acceptance of the hard things we need to do now, to pay in the future”.
Concluding his speech, the treasurer said there are opportunities to make the economy more resilient.
“We have it within us to look at these threats, navigate through this difficult period and seize the opportunities of this new era, with an economy and budget as resilient as the Australian people themselves. And with optimism and confidence that our best days are ahead. beyond”.