Government Spending Keeping Economic Growth Alive: Treasurer

Treasurer Jim Chalmers has defended his government’s performance despite the latest GDP growth figures being the lowest since 1991-92.

The Labor minister attributed the situation to “global uncertainty, price pressures, and higher interest rates.”

Chalmers addressed the media after the Australian Bureau of Statistics released the numbers, saying consumption had gone backwards and discretionary spending had fallen.

“We saw around the same growth in the year as we usually see in a single quarter when it comes to consumption,” he said.

Despite facing criticism for not handling rising inflation and cost of living, Chalmers pointed out the government’s achievements.

“Almost a million jobs have been created on our watch. Inflation is halved from its peak in the year that we were elected. Real incomes are growing. Tax cuts are rolling out, and we’re helping with the cost of living.”

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