‘Not the Time to Slash and Burn’: Treasurer Says No Spending Cuts Planned

Australian Treasurer Jim Chalmers has said that there will not be significant spending cuts in the upcoming federal budget. “This is not the time for scorched earth austerity. This is not the time to slash and burn in the budget when people are doing it tough and when growth in our economy is weaker than we would like it to be,” he said on May 6. “Some extra spending is unavoidable. Some of it is automatic. Some of it is desirable. All of it is warranted.” Nevertheless, the treasurer said there would be “spending restraint” and savings in the budget. “There’s no shortage of opinions at this time of year about the budget position. We see that in the papers almost every day. And we welcome that because it helps us to chart a responsible middle course between those who want us to slash and burn in the budget, and those who think that it should be some kind of free-for-all of spending,” he said....