Assistant treasurer defends government spending after RBA hikes cash rate | ABC NEWS

The federal government spending has come under scrutiny after the Reserve Bank lifted interest rates to a 15-year high of 4.6 per cent. The Albanese government is blaming the prolonged crisis in Middle East and global demand for AI for increased inflationary pressure on the Australian economy. Assistant Treasurer Daniel Mulino says private sector spending is contributing more significantly to inflation and the government has made ‘difficult decisions’. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2026-09-30/labor-defends-spending-amid-high-inflation-rate-rise/107208962 Note: In most cases, our captions are auto-generated. #ABCNEWS #ABCNEWSAustralia #abcnewschannel