Claims extracted
20
sentences that state something as happening or true
Uncertain
0%
0 of 20 hedged
("reportedly", "may", "according to")
Leaning
Leans right
of the writing, not the subject · beta estimate
Publisher signals
61/100
The Sydney Morning Herald's corrections and
hedging, across everything collected from it. Not a measure of accuracy.
Outlets on this story
2
Economy/Business
Same framing elsewhere
1
articles that frame the event the way this one does
Treasurer Jim Chalmers has signalled Labor would run a “pretty tight ship” in its mid-year budget update, again warning a spike in bond yields will add billions of dollars to the federal budget and is likely to rule out significant new cost-of-living relief.
asserted
spike → signal → relief
Chalmers said rapidly rising borrowing costs in Australia and other major economies would put “additional pressure” on the budget, with federal government debt recently passing $1 trillion.
asserted
debt → say → trillion
The RBA’s decision last week to raise the cash rate to a 15-year high of 4.6 per cent has heaped further pressure on Chalmers to curtail federal government spending, which is at its highest level in four decades outside the pandemic.
asserted
which → raise → pandemic
Speaking on ABC’s Insiders, Chalmers said Australia’s domestic inflation challenge had been “made much worse by the war in the Middle East”, but maintained that his assessment was consistent with that Reserve Bank governor Michele Bullock.
asserted
assessment → speak → governor
“If you compare the last year of demand in our economy compared to the year before, what you will see is that public demand has halved over the last year while private demand has tripled,” Chalmers said.
asserted
Chalmers → compare → year
“So what that shows is there are other factors at play here because public demand growth has been coming down at the same time as inflation has edged up.”
asserted
inflation → show → time
Economists have warned that the issue with public demand was not growth in government spending but the level, which currently sits at 26.9 per cent as a share of the economy.
asserted
which → warn → economy
Australia’s 3.6 per cent underlying inflation rate is among the highest in the developed world, behind only Iceland, Lithuania and Puerto Rico.
asserted
rate → develop → Iceland
Chalmers said it was imported to remember there was a “whole range of factors at play” and that budget settings were not the primary driver of prices in the economy.
asserted
settings → say → economy
But he said the government was working on a new savings package for the mid-year update, due in about 10 weeks.
asserted
government → say → weeks
“And that’s all to recognise that even though the budget settings aren’t the primary drivers of prices in our economy – especially now, at a time of all of this global turmoil – we can, and we will, continue to play a helpful role in the fight against inflation, and that’s our focus,” he said.
asserted
he → recognise → inflation
Chalmers said whether those savings would improve the budget bottom line remained to be seen because of uncertainty over government borrowing costs, driven by fluctuations in bond yields.
asserted
improve → say → yields
The US 10-year Treasury yield reached its highest level since 2002 last week while the Australian government bond yield also hovered around 5.4 per cent, near its highest level since mid-2011.
asserted
yield → reach → mid-2011
Assistant Science Minister Andrew Charlton – widely viewed within the federal government as a potential successor to Chalmers in the role – said productivity growth was critical to bringing inflation and interest rates down, conceding domestic pressures were a major driver of price growth.
“We need higher productivity to get interest rates and inflation down.
asserted
We → view → rates
If productivity is low, then your economy can’t grow without creating inflation,” he told News24.
asserted
he → grow → News24
Charlton dismissed recent media speculation that Chalmers’ performance in the role was subject to internal unrest, saying he was doing an “extraordinary job in very difficult global circumstances”.
asserted
he → dismiss → circumstances
Coalition treasury spokesman Tim Wilson called for Prime Minister Anthony Albanese to sack Chalmers, accusing the treasurer of stoking inflation and misleading Australians about government spending.
asserted
Albanese → call → spending
“This is a man who’s actively stoked inflation because it gives him windfall tax revenue because he can’t manage his budget.
asserted
he → stoke → budget
And Australian households are poorer because he has been a disaster as treasurer,” Wilson said.
asserted
Wilson → say → treasurer
Get a note directly from our foreign correspondents on what’s making headlines around the world.
asserted
what → get → world
The Aporia
