(Image: Mitchell Squire/Private Media)

Treasurer Jim Chalmers could use some cash right about now.

He has inherited a sizeable budget deficit with rising interest rates -- and that’s before he’s paid for Labor’s promises or cleaned up sectors Morrison neglected. Last week’s economic update showed increasing tax receipts. But with recessionary storm clouds on the global horizon, that might not last long.

How should he plug the fiscal hole? I never thought I would say this, but he should look to the fine example set by former prime minister Tony Abbott.