Higher borrowing costs put cost-of-living help at risk

Treasurer Jim Chalmers says dearer government borrowing and high inflation mean December's MYEFO, the mid-year budget update, will be tight. He says higher bond yields — the interest Canberra pays to borrow — will likely rule out new cost-of-living help. Canberra loves a pre-MYEFO scare. This time the markets back him.