Shadow Treasurer Jim Chalmers has criticised the federal budget and called out an “admission of failure” in the numbers.

The budget, handed down by the Treasurer last night, included big-spending measures such as tax cuts and billions of dollars for aged care and infrastructure.

Employment is at a record high, and the budget promises 250,000 more jobs by the end of the 2022/23 financial year.

But the Shadow Treasurer told Ben Fordham wages won’t rise.

“You’d think that after spending all that money and racking up all that debt, we’d have a much stronger economy at the end of it, but their own budget papers say that even after the four-year budget period real wages will have actually going backwards.

“I think that’s a bit of an admission of failure.”

Press PLAY below to hear the Shadow Treasurer’s take on the federal budget