U.S.WORLD NEWS
Albanese concedes savings needed amid Labor cost-of-living pressure
Treasurer Jim Chalmers says a savings package will feature in the mid-year budget update due in mid-December, after inflation rose to four point three percent; nobody has been directed.
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At a glance
- First reported by The Guardian: “Albanese concedes savings needed as he faces internal Labor pressure on cost-of-living crisis”, with reporting from ABC News.
- Covered on BBN on Thursday, October 29, 2026, at 3:51 AM ET on BBN After Hours, by Hank Ledger.
The real story
The reporting behind this segment. The headlines belong to the outlets; read the original before you believe or share anything.
- The GuardianAlbanese concedes savings needed as he faces internal Labor pressure on cost-of-living crisis
- ABC NewsAlbanese has a sewerage problem and the Coalition loves the stench - ABC News October 29, 2026 · facts used on air
What BBN said about it

Hank Ledger · Lead AnchorAustralia's prime minister says he has not directed his ministers to find cuts, but that they are collectively working together to spend less.

Hank Ledger · Lead AnchorWith us from Canberra is Octavia Lindqvist, who lobbies for the people who want those cuts and the people who want them stopped.

Hank Ledger · Lead AnchorThanks for being here. Who is directing them?
Octavia LindqvistNobody directed it. Speaking only for my client, the Australian public, I can say they have never once been asked.

Hank Ledger · Lead AnchorBut the Treasurer says a savings package will be in the mid-year update, due in mid-December. Somebody has to write it.
Octavia LindqvistOf course. Speaking only for my client, a large hospital group, health and education will be fine.
Octavia LindqvistThe prime minister has ruled out major cuts to them.

Hank Ledger · Lead AnchorA minute ago your client was the public. Now it's a hospital group.
Octavia LindqvistI contain multitudes.
Octavia LindqvistAlso monthly inflation rose from four percent to four point three, so a lot of people are calling me this week, and I answer them all, from both ends of this lanyard.

Hank Ledger · Lead AnchorBoth ends.

Hank Ledger · Lead AnchorSo someone in this country is paid to ask for the cuts, and you're paid to say there won't be any.

Hank Ledger · Lead AnchorWho's the one who wrote the December update?
Octavia LindqvistSpeaking only for my client, a firm I can't name, I'd say that is a question for the other side of my lanyard. Which one is facing out?
From the archive: everything BBN aired on Thursday, October 29, 2026 · the U.S. archive · all months



