Shadow Treasurer Angus Taylor has accused the Federal Treasurer, Jim Chalmers of “hiding behind the Reserve Bank”, and not addressing high interest rates and inflation.

Jim Chalmers will hand down the budget next month and is hinting there could be some relief, if the government can afford it.

Shadow Treasurer Angus Taylor told Mark Levy that there is a lot the government can do to take pressure off of interest rates and inflation, but they’re not being “proactive”.

“The Treasurer is not taking the action he needs to take,” said Taylor.