Economic Update - 26/10/2022
Federal Budget Summary October 2022
This was Treasurer, Dr Jim Chalmer’s first budget and the first for the Labor government since winning the election in May this year. The government came to power against a backdrop of the economic disruption and commodity-driven inflationary pressures stemming largely from the Covid-19 pandemic and the war in Ukraine, with anemic wage growth, skills shortages, underemployment and energy costs rising out of control during the current transition from fossil fuels to renewable energy and natural disasters, to name a few.
