Agriculture remains the sticking point as negotiations in Brussels break down; treasurer maps out aims for economy. Follow the day’s news live

No need to choose between compassion and responsible economic managment, Chalmers says

Treasurer Jim Chalmers says there is no need to choose between compassion and responsible economic management on ABC RN this morning:

We have demonstrated over a little over a year in office that you don’t have to choose between managing the economy in a responsible way, and providing cost-of-living help for people who really need it, people who are doing it tough. And I think for too long, the economic debate has been dominated in this country by this false choice, between responsibility and compassion.

The textbook response in the kinds of economic conditions that we confront together is you get the budget in much better nick, not at the expense of people doing it tough but so that you can provide a much more solid foundation to help them.