Jim Chalmers expected to ‘spend every single cent’ of ‘Jimbonomics’ budget surplus

Nationals MP Keith Pitt has warned the result of “Jimbonomics” in the upcoming federal budget “directly impacts every single mortgage holder” in Australia. “Mr Chalmers has to be far more careful and more cautious with the taxpayers’ money and because they can definitely impact what happens with the RBA and the next decision on interest rates,” he told Sky News host Danica De Giorgio. “That will have a very substantial impact on inflation. “We are foreseeing lots of reports from economists and others that inflation continues to be ticking up and out of control.” Mr Pitt said his main worry is Treasurer Jim Chalmers “will spend every single cent of what is an absolute boom in additional taxpayer revenue and additional revenue from the resources sector”.