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Treasurer Chalmers Speaks At G20 Of “Responsible Budgets”

AUSTRALIA

Australian Treasurer Chalmers has spoken at the G20 finance ministers and central bankers meeting in Washington, as reported by The Australian. His emphasis on “responsible budgets” in combating current global uncertainty signals that his first budget on October 25 is unlikely to contain too many fiscal sweeteners.

  • Dr Chalmers said “the best buffer against the global uncertainty that we all face right now is responsible budgets” (The Australian).
  • Also, “Our support can't be indiscriminate, it can't be excessive, it can't be poorly targeted. And the situation calls on us to ensure that we're dealing with issues on the supply side of the economy as well” (The Australian).
  • Before hand, he spoke about the high probability of a US recession, in contrast to US President Biden.
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