‘Pure political pork’: government ends energy bill rebate as treasurer flags ‘difficult’ budget decisions

Jim Chalmers has foreshadowed more “difficult decisions” in next week’s mid-year budget update after cabinet decided not to extend billions of dollars in energy bill rebates into the new year.

The withdrawal of the power bill subsidies comes as the Reserve Bank’s monetary policy board mulls a recent rebound in inflation that could force the central bank to hike interest rates next year .

Pointing to the “intensifying” pressures on the nation’s finances, the treasurer set the scene for a barebones fiscal update that would contain no major new policy announcements. Financial markets now certain the RBA will hike interest rates in 2026 Read more

“It’s not a mini budget, but there will be savings, and there will be difficult decisions, and one of them is around these energy rebates