Australian Treasurers Jim Chalmers has refuted the idea that the newly announced $14.6 billion (US$9.88 billion) living cost relief will worsen inflation.
In an interview with ABC Radio, the treasurer said the relief package included “responsible spending” and would not add pressure to inflation.
Among the cost of living supports to be featured in the May 9 budget is an energy price relief of up to $500 for Australians on pensions and other types of welfare payments and small businesses.
Around 5.5 million households and one million businesses will benefit from this $1.5 billion spending.
The cost-of-living package will also include investments in cheaper medicines and tax incentives for electrification and energy efficiency upgrades….