Thursday, 3 September 2026

Treasurer Concedes Budget Destroying Wealth, Wages 

“Jim Chalmers has conceded his Budget is destroying the wealth and wages of Australian families, while Australians are living the consequences of his active inflation agenda”, said Shadow Treasurer, Tim Wilson.

Mr Wilson’s comments come in the wake of the Treasurer’s first admissions since his Budget that his measures have contributed to the significant decline in the values of Australians’ most significant asset, the family home.

Under pressure on ABC Radio National this morning, Mr Chalmers said, “I think that's one of a number of reasons”.

“The Albanese government’s active inflation agenda of stoking inflation, taxing inflation and spending inflation means inflation is outstripping wealth and wages and forcing Australians to pay higher interest rates and prices at the supermarket”, Mr Wilson said.

“The Treasurer confirmed that house price falls can be attributed to his taxes on housing and family savings, and record high interest rates that are driven by his active inflation agenda, finally confirming that house prices are collapsing by design of his budget”.

“As inflation continues to outpace growth and wages, the living standards of Australians continue to decline, and countless more small businesses are going to the wall”.

“Australians need a government that understands the impacts of its policies, and lives within its means. That will only occur with a change of government”.

“The Coalition’s Tax Back Guarantee will deliver a permanent, larger tax cut every year, so that any wage rise isn’t just taken up by the Albanese government’s active inflation agenda”.

[ENDS]