Chalmers’ downbeat play on economy ‘could backfire’

Ronald Mizen, Richard Henderson and Carrie LaFrenz

Jun 2, 2022 – 7.13pm

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Wesfarmers chief executive Rob Scott said there was no need to panic about Australia’s economic outlook, and leading economists labelled Treasurer Jim Chalmers’ downbeat assessment of the economy and inflation a political play, to buy the new government flexibility, that could backfire.

Mr Scott on Thursday was upbeat about the outlook, and said while there was a need to be mindful of inflation “getting too far ahead of us”, there was also reason to be confident the economy could withstand a few bumps.

Ronald Mizen is the Financial Review’s political correspondent, reporting from the press gallery at Parliament House, Canberra.

Richard Henderson is a markets reporter based in our Melbourne newsroom.

Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club.