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.”

Read Full Article Here

Follow us

Read our latest news on any of these social networks!

Get latest news delivered daily!

We will send you breaking news right to your inbox


Have a tip? Let us know!

Recent Articles

  • by:
  • Source: NBC News
  • 03/21/2025
...
Alexandria Ocasio-Cortez and Bernie Sanders rally Democrats, calling for a party that 'fights harder'

The two progressive lawmakers kicked off the western part of their "Fighting Oligarchy" tour Thursday, with stops in Nevada and Arizona.

  • by:
  • Source: NBC News
  • 03/21/2025
...
Elon Musk to visit the Pentagon to discuss China

The New York Times reported Musk would receive a briefing on plans for any potential war with China, citing two U.S. officials. President Donald Trump denied the report.

...
Trump admin denies Elon Musk will get exclusive China briefing after anon officials leak plans

“Their FAKE concept for this story is that because Elon does some business in China, that he is very conflicted and would immediately go to top Chinese officials and ‘spill the beans.’”

  • by:
  • Source: WTOP
  • 03/20/2025
...
Georgetown Univ. researcher detained by federal immigration officials

A researcher at Georgetown University was detained by federal immigration agents on Monday night.