The link between government spending and inflation is the economic topic on everyone’s lips at the moment. Treasurer Jim Chalmers is playing it down, but the opposition is pushing back hard. Reserve Bank of Australia governor Michele Bullock, meanwhile, is trying her best to stay out of it.
The debate has mostly centred around the impact that record-high government spending is having on inflation and interest rates, after the RBA lifted the cash rate for the first time in two years last week.
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