Treasurer Jim Chalmers warns of ‘dire’ budget situation as inflation soars

Labor says deficit could blow out further while accusing the Coalition of failing to disclose budgetary pressures

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Labor has inherited a dire" budget situation with a deficit that could blow out further due to soaring inflation, the treasurer, Jim Chalmers, has warned.

Chalmers accused the Coalition of not disclosing pressures on the budget, revealed in Treasury briefings since Labor's election win on Saturday.

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