'It could blow up': What Jim Chalmers' Federal Budget means for Labor (Watch)

Jim Chalmers has melded an economic plan with a political strategy that doesn’t necessarily have to wait for the economy or cost-of-living pressures to improve overall, just to start to do so.

The Treasurer’s much-vaunted “new economic orthodoxy” blends old-school government intervention and big spending with private investment priming to meet the “greatest challenge since the industrial revolution” in the decarbonisation of the economy.

The new economic orthodoxy is starting the fight on inflation by using taxpayers’ funds to buy a cut – half a percentage point – in the inflation rate and care less about long-term deficits.

Here, National Editor DENNIS SHANAHAN details the 2024 Federal Budget.

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Видео 'It could blow up': What Jim Chalmers' Federal Budget means for Labor (Watch) канала The Australian