The RBA interest rate is rising to rise; The Scott Morrison and Anthony Albanese campaigns continue; mortgage rates are rising; the federal ICAC criticized by the Prime Minister; Josh Frydenberg Says Monique Ryan Shouldn’t Apologize

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Neither Treasurer Josh Frydenberg nor Shadow Treasurer Jim Chalmers said what they would do to cut spending after the election, as a reporter pointed out during the Treasurer’s debate. So what do they think their opponent would do?

Treasurer Josh Frydenberg and Shadow Treasurer Jim Chalmers at the National Press Club today.Credit:Pool / Liv Cameron

Chalmers said he fears the government will continue to ignore the rising cost of living.

“I fear that this government will continue on the path it has charted for the better part of a decade now. The biggest risk in this election is that nothing will change at all,” he said.

“Only a Liberal government, a Liberal treasurer, such an out of touch Liberal prime minister would see the inflation numbers, the real wage numbers, the rising interest rates, everything else, and think that what Australians have really need is more of the same.”

Frydenberg said Labor would revert to its “natural instinct” to tax and spend more.

“When you go to their national platform, it spells out increased spending on support, increased spending on the paid parental leave scheme, increased spending on childcare. We have totaled the cost of this increased spending – it’s over $300 billion,” he said.

“If you ask me what my biggest concern is that what he is telling you today is not what you can believe. You can’t take it to the bank because Anthony Albanese, who has advocated higher taxes his whole life, whether it’s a carbon tax or a mining tax or higher taxes raised in the last election, backed by the finance minister at the time, will do even if they have half a chance.

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