Treasurer Jim Chalmers handed down his third budget on Tuesday night, but there's debate over whether the government has gone on a spending spree at a time when combatting inflation is still the most important job.

The Treasurer told RN Breakfast that the cost-of-living package in the budget will "take some of the edge of inflation" and won't add to broader inflationary pressures in the economy.

Guest: Jim Chalmers, Treasurer