Treasurer Jim Chalmers has declared a 'perilous path' is facing Australians, saying there's no 'tip-toeing' around the cost-of-living pressures in the country.
Mr Chalmers said Australians know progress begins by facing 'hard realities' and 'hard truths'.
'This time of great challenge for our country is also a time of great opportunity,' he said.
'The world economy is treading a precarious and perilous path.'
