Labor’s budget expected to focus on young people

Sky News Political Editor Andrew Clennell says he expects the upcoming budget to have a focus on young people to deter the threat from the Greens. Meeting with other G20 finance ministers in Washington, Treasurer Jim Chalmers said the budget will be underpinned by “five pressures” on Australia’s economy. He identified lingering inflation, slowing growth, rising tensions, fragmenting supply chains, and a transforming global economy as the main concerns to be addressed. Mr Clennell stressed that any cost of living relief in the budget will likely be small as the government will try to avoid putting “fuel on the inflation fire”. “I'm thinking of increases to rental assistance that have been speculated on and the PM suggesting last week there will be changes to the HECS university debt repayment system,” he said.