Anthony Albanese says "The treasurer is doing a great job" on budget work

Prime Minister Anthony Albanese expressed support for Treasurer Jim Chalmers as Labor faced scrutiny over rising household costs, one day after frontbencher Murray Watt urged colleagues to stop undermining Chalmers, according to the report. Albanese said he and Chalmers were working together ahead of the government’s upcoming midyear budget update, which will include reductions in public spending as officials try to restrain inflation. The prime minister cited two budget surpluses, smaller deficits and economic changes as grounds for his backing. The remarks came as a Westpac survey showed consumer sentiment at a four-year low and mortgage holders at their most pessimistic since records began in 1994, with living expenses and interest-rate concerns weighing heavily on households.