Chalmers defends record government spending amid inflation concerns

Treasurer Jim Chalmers has refused to specify an optimal spending target as a share of GDP, stating those advocating for cuts should nominate what they would slash. Public spending has reached its highest share of the economy outside the pandemic since the mid-1980s, despite calls from economists to reduce spending to control inflation. Money markets are placing more than a 50% chance of a fifth interest rate rise at the Reserve Bank's next meeting.See omnystudio.com/listener for privacy information.