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Australian Treasurer Jim Chalmers hit back at former Prime Minister John Howard and Treasurer Peter Costello, who criticised the Albanese government’s financial management.
Treasurer Chalmers claimed on Twitter (X) that Labor had delivered a $200 billion improvement in the budget since it came to office, thereby delivering $70 billion in interest payment savings.
The reality is that the improvement in the budget position arose because of good luck rather than good management.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.