‘Pure political pork’: government withdraws energy bill subsidies as treasurer forecasts ‘difficult’ budget decisions

By Patrick Commins Economics editor · The Guardian World

Chalmers flags pressure on national finances as Reserve Bank contemplates possibility of interest rate rises next year Get our breaking news email , free app or daily news podcast Jim Chalmers has foreshadowed more “difficult decisions” in next week’s mid-year budget update after cabinet decided not to extend billions of dollars in energy bill rebates into the new year. The withdrawal of the power bill subsidies comes as the Reserve Bank’s monetary policy board mulls a recent rebound in inflation that could force the central bank to hike interest rates next year . Continue reading...