Sunrise host Monique Wright has engaged in a discussion with federal treasurer Jim Chalmers regarding the cost of living crisis.
In a live interview, Wright challenged Chalmers on interest rate increases, asking: “Is enough enough?”
WATCH VIDEO ABOVE: Monique Wright presses Jim Chalmers live on Sunrise.
Stream the world’s best reality, entertainment and true crime shows for free on 7Bravo on 7plus >>
The segment follows news that the annual inflation figure eased to 5.6 per cent last month, down 1.2 per cent, mainly thanks to falling petrol prices.
But when asked whether this drop in inflation would see the Reserve Bank pause interest rate rises, Chalmers remained tight-lipped.
“Look what I try and do as the treasurer of the country is not preempt or second guess the decisions that are taken independently by the Reserve Bank,” he said on Sunrise.
“But certainly those numbers yesterday were welcome news when it came to inflation coming off a bit more in our economy.”
Not backing down, Wright challenged Chalmers on his response — asking for his opinion on whether rates should drop.
“Of course, we understand that the Reserve Bank is independent from government,” she fired back.
“But you must have a view – is enough enough? You know, I mean, how many more (interest rate rises) can people withstand?”
In response, Chalmers acknowledged that Australians will face challenging months ahead.
“Well, I certainly understand Monique that when interest rates go up, it makes life harder for people with a mortgage,” he said.
“And each time that interest rates have gone up since before the election and continuing afterwards that has tightened the screws on family budgets.
“We certainly understand that the Reserve Bank have got a job to do, they do that independently without political pressure and I’ve got a job to do as well.
“And I take responsibility for providing this cost of living help without adding to inflation.
“Also investing in the future of the economy and getting the budget in much better nick, so that we can afford to do the kinds of things that we need to do to help people through what we expect will be difficult months ahead.”
‘Difficult message’
Wright then challenged Chalmers on the government’s first surplus in 15 years, saying it was “difficult” news for Australians struggling to buy basic groceries.
“You mentioned there the surplus yesterday you announced the country’s first surplus in 15 years,” she said.
“Is it a difficult message to send out to people when they’re seeing that the government’s got this big surplus? They’re at home now watching and they can’t afford to buy milk and bread?”