According to Chalmers, he will hand down the federal budget on Tuesday.
According to government projections, over the next five years, payments are expected to total about 110 billion AUD (74 billion U.S. dollars), the equivalent of 60 million AUD (40.1 million dollars) every day.
Releasing the figures, Chalmers put the blame at the feet of the former Coalition government that held power from 2013 until 2022.
"When it comes to the Budget, our objective here is to provide responsible cost-of-living relief and invest in the foundations of growth into the future in ways that alleviate rather than exacerbate this inflation problem that we have in our economy," he said.
Latest comments