Prime Minister Anthony Albanese has today told ministers to delay spending and find savings ahead of the May federal budget.

And it’s left 3AW host Shane McInnes with several questions, and also some ideas on what federal Treasurer Jim Chalmers can cut back on.

“It seems the federal government’s speeding spree is over, and the belt tightening is about to begin,” McInnes said.

Press PLAY to hear the questions he has + the ideas for Jim Chalmers

Chief economist and co-founder of MacroBusiness, Leith Van Onselen, then provided a fascinating insight into government spending, and why inflation is so high.

He also explained why the Reserve Bank will likely deliver another rate hike, and why the Albanese government continues to help fund the Suburban Rail Loop.

Press PLAY to hear his fascinating insight on 3AW

Images: Tracey Nearmy/Getty