Treasurer Jim Chalmers says his budget next week will avoid a “scorched earth” approach but still put fighting inflation as the main near-term priority before boosting spending and deficits in later years.
The federal budget next Tuesday will show gross debt reached $904 billion in 2023-24, $152 billion lower than forecast ahead of the 2022 federal election, knocking about $80 billion off interest payments over the decade.
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Ronald Mizen reports on politics, economics, business and the law, with a focus on corporate regulators, lobbyists and investigations from Parliament House, Canberra. Connect with Ronald on Twitter. Email Ronald at ronald.mizen@afr.com
