Federal budget at risk from Trump tariffs and a ‘volatile and unpredictable’ global economy

Former Reserve Bank deputy governor Guy Debelle once quoted Doors frontman Jim Morrison in a speech when the fallout from the global financial crisis was still front of mind: “The future’s uncertain and the end is always near.” In his budget speech last night, Jim Chalmers was somewhat less dramatic, but the warning was very similar. “The global economy is volatile and unpredictable,” he cautioned. ” The 2020s have already seen a global pandemic, global inflation and the threat of a global trade war. ” Treasurer Jim Chalmers says global economic volatility is threatening Australia’s economic and budget outlook. Almost…