Economists Urge Chalmers to Cut Spending, Prevent Rate Hikes
Update: 2025-12-16
Description
Economists advise Treasurer Chalmers to cut government spending to cool the economy and potentially avert further interest rate hikes. With inflation surpassing the Reserve Banks target, major banks predict more rate increases, possibly in February and May. The economys growth rate is exceeding the Reserve Banks sustainable limit, contributing to inflation. Business surveys show a narrowing gap between supply and demand, and high capacity utilization suggests past rate cuts may have been too aggressive. Treasurer Chalmers plans budget cuts but new spending measures will continue to boost demand. The true impact of these decisions will be revealed in the table of truth, with the government adding a net one hundred forty-four billion dollars to spending since its election in 2022.
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