Australia news live: new laws to crack down on property underquoting in NSW; inflation could reach ‘high fours’, Chalmers says

Minns government introducing legislation to significantly increase penalties. Follow the day’s updates liveLabor to blame for inflation problem, Canavan saysThe new Nationals leader, Matt Canavan, says Treasury forecasts suggesting inflation could reach as high as 4.5% this year proves Labor has not done enough to carefully manage the economy.The government has not been saving for a rainy day, and a rainy day has arrived, and we don’t really have a roof over our head.We’ve run a couple of scenarios which make it clear on some realistic assumptions about global oil prices and how that would potentially flow through to inflation, and for how long you know, if we were putting pencils down on those forecasts today, we’d have inflation peaking somewhere between the mid- to high fours. Continue reading...