The Australian Government has unveiled its Budget, with the Iran war continuing to loom large. 

Gross debt is expected to hit $1 trillion for the first time this year, and the federal government isn't expected to be back in surplus until 2036. 

The Australian Treasury is forecasting inflation will peak about 5%. 

Treasurer Jim Chalmers says they're dealing with the fifth economic shock in less than 20 years. 

Westpac Chief Economist Kelly Eckhold told Ryan Bridge that all the new measures the Budget introduces are backloaded, so they might be spending a bit of money now, and might not get the savings later. 

LISTEN ABOVE 

The Australian Government has unveiled its Budget, with the Iran war continuing to loom large.&nbsp;
Gross debt is expected to hit $1 trillion for the first time this year, and the federal government isn't expected to be back in surplus until 2036.&nbsp;
The Australian Treasury is forecasting inflation will peak about 5%.&nbsp;
Treasurer Jim Chalmers says they're dealing with the fifth economic shock in less than 20 years.&nbsp;
Westpac Chief Economist Kelly Eckhold told Ryan Bridge that all the new measures the Budget introduces are backloaded, so they might be spending a bit of money now, and might not get the savings later.&nbsp;
LISTEN ABOVE&nbsp;

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

Early Edition with Ryan Bridge

Kelly Eckhold: Westpac Chief Economist on Australia's new federal budget

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/9414a4f5-55ec-41a9-87b0-b44900086e2e/transcript