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ABC Business Daily

The targets of big tax change

5/6/202628 min

After another rate hike was handed down from the Reserve Bank yesterday, Governor Michelle Bullock was quizzed on whether government spending could make the RBA’s task of bringing down inflation more difficult.

While she was careful to avoid direct criticism of government policy, she also made clear that higher demand wouldn’t be welcome.

So how might this impact Treasurer Jim Chalmers' thinking ahead of next week’s Federal Budget? And what should we make of the news that the budget will bring a billion-dollar fuel security package?

Carrington Clarke and ABC Chief Business Correspondent Verrender break it all down on ABC Busniness Daily.

Got a burning business question?

Send a short voice recording to Carrington and the team at abcbusinessdaily@abc.net.au

Clips

Welfare For The Wealthy
RBA Flying Blind Admission
Fuel Reserve Ripple Effect
Forecasts Built On Sand
Who Rate Hikes Really Hit
Bleak Baseline: Near Recession
Housing Fix: Incentivize New Builds

Transcript preview

First 90 seconds

  1. Carrington Clarke· Host0:00

    [upbeat music] ABC Listen. Podcasts, Radio, News, Music, and More.

  2. Matt Bevan0:05

    [somber music] In just a few months, the entire global order has shifted.

  3. Ian Verrender· Co-host0:11

    Canada would be great as our cherished 51st state.

  4. Matt Bevan0:15

    The US has started threatening its traditional allies and cozying up to its traditional enemy, Russia.

  5. Ian Verrender· Co-host0:21

    Do you respect Putin? I do respect him. Do you? Why? Well, I respect a lot of people.

  6. Matt Bevan0:26

    So what does Donald Trump get out of all this? I'm Matt Bevan, and on my show, If You're Listening, we try to detangle the chaos of the world so that you really understand it. Find new episodes on ABC Listen every Thursday.

  7. Carrington Clarke· Host0:37

    After another rate hike was handed down by the Reserve Bank yesterday, Governor Michele Bullock was quizzed on whether government spending could make the RBA's task of bringing down inflation more difficult. While she was careful to avoid direct criticism of government policy, she also made clear that higher demand wouldn't be welcome. So how might this impact the Treasury's thinking ahead of next week's federal budget? Welcome to ABC Business Daily. [upbeat music] I'm Carrington Clark.

  8. Ian Verrender· Co-host1:08

    And I'm Ian Verder, the ABC Chief Business Correspondent.

  9. Carrington Clarke· Host1:11

    Ian, always a pleasure. Now, uh, we had the Reserve Bank making its decision yesterday on interest rates as expected. This time the money markets were correct. Almost every economist was correct. They have hiked interest rates, and seemingly with more conviction than the last time around. This time, eight of the nine board members voting

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