Treasurer Chalmers right to be worried about broken budget

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The always repulsive Ronald Mizen has a crack at Jim “Chicken” Chalmers today:

Leading economists have dismissed Treasurer Jim Chalmers’ downbeat assessment of the global economy, citing recent upgrades in growth and warning that it should not be used to justify inflation-boosting spending.

On Monday, Dr Chalmers signalled more cost-of-living support in next month’s budget if it was “affordable”, and rejected claims that Labor’s big-spending industry policy ambitions would stoke inflation in the near term.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.