Friday, 8 May 2026

“The Treasurer is cooking the Budget books and his excuses to hide his inflation addiction doesn’t wash by claiming new taxes as ‘saves’, said Shadow Treasurer, Tim Wilson.

Mr Wilson’s comments follow a press conference by the Treasurer and Finance Minister, Katy Gallagher, claiming they have found $64 billion in ‘savings’.

“The Treasurer has previously boasted $114 billion in savings, and then gone on to spend another $223 billion in the next breathe only fuelling the inflation fire”, Mr Wilson said.

“The Treasurer has been in denial about his role on inflation, and rather than kicking his inflation habit he is now banking new taxes as ‘savings’ so he can keep the spending addiction going”, Mr Wilson said.

“Even if you add the $64 billion he is claiming as savings this morning, he will still have spent more than he has claimed to save”, Mr Wilson said.

“The Treasurer might think no one is noticing his inflation addiction, but Australians are living with the consequences through higher mortgages, rents and prices at the supermarket”.

“In the Chalmers parallel economic universe, higher taxes and spending reshuffles are counted as 'savings' but $178 billion in so-called savings still does not cover the $223 billion he has added in new spending. He has spent more than he claims to have saved," Mr Wilson said.

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