With the budget fast approaching and the cost of living continuing to hit the most vulnerable Australians hardest, the Labor government is at a crossroads. Will it provide immediate and meaningful relief for those most in need, or be cautious in an effort to prevent inflation from spiralling even further out of control? Gabrielle Jackson talks to Guardian Australia’s editor-in-chief, Lenore Taylor, and head of news, Mike Ticher, about the cost of living, the budget, and tough choices