Treasurer issues grim message on economy if trade war takes hold

The treasurer has downplayed any substantial improvement in next week’s budget bottom line, warning a global trade war would put a multi-billion-dollar dent in Australia’s economy by 2030.

In a speech on Tuesday, ahead of next week’s federal budget, Jim Chalmers flagged that Treasury does not expect the bottom line to “change very substantially” from the December mid-year budget update, which forecast a $33 billion deficit for 2024-25.…

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