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Sky News Political Editor Andrew Clennell discusses the Albanese government’s “economic woes” after the Reserve Bank hiked interest rates amid high inflation. “The Reserve Bank hiked interest rates during the week, and the government must look at ways to cut spending and improve its budget position,” he said. “One of those ways was an announcement by the Deputy PM and Defence Minister Richard Marles to sell off some of the jewels of the defence crown, such as Victoria Barracks in Paddington, Sydney, to raise a couple of billion dollars. “And there’s speculation about an increase in capital gains tax being part of this year’s budget that hasn’t been ruled out by Prime Minister Anthony Albanese or his Treasurer Jim Chalmers.”