Chalmers says ‘big’ investment in subsidy plan won’t push up inflation

News Snapshot:

Dr Chalmers defended the proposed policy at an IMF dinner of top finance ministers and economists, amid concerns of government-backed protection for local solar panel and other manufacturers. Dr Chalmers had the floor for three minutes during the lengthy working dinner at IMF headquarters this week to promote the industrial policy, aimed at competing against the massive US Inflation Reduction Action subsidy program. “Everyone’s got their own version of this,” Dr Chalmers told AFR Weekend on Thursday (Friday AEST) at IMF headquarters. “But this is not about protecting us from something, it’s about projecting us into something, projecting ourselves into...