Federal Finance Minister Simon Birmingham said it was only a matter of time before interest rates would have to go up.

Three of the big four banks are now forecasting the Reserve Bank will pull the trigger on a rate rise next week.

Labor says rising inflation is due to economic mismanagement.

Finance Minister Simon Birmingham told Jim Wilson it’s out of the government’s control.

“There was always going to have been a point of some normalisation.”

Press PLAY below to hear the Finance Minister detail the Liberal Party’s plans