A new survey showing 93 per cent of Australians don't feel the economy progressed under Labor has sparked a clash between Treasurer Jim Chalmers and shadow treasurer Ted O’Brien over the government's economic record.

According to the latest data, only seven per cent of people felt the economy improved in the past year, while just 22 per cent felt optimistic about the economic future.

Compare the Market released its 2025 Household Budget Barometer on Tuesday, detailing the bleak outlook many people have of the economy.

The annual report, which surveyed more than 3,000 people, showed that despite government support, many Australians continue to feel the strain of rising living costs.

Shadow treasurer Ted O’Brien told SkyNews.com.au the figures confirmed Australians were losing confiden

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