Social media ban bill to be introduced; Coles to front supermarket inquiry; Future Fund to invest in homes, renewable energy projects [Video]

Shadow treasurer Angus Taylor is holding a press conference to respond to a new Future Fund mandate announced by Treasurer Jim Chalmers.

Watch Taylor address the media live here.

Treasurer Jim Chalmers says he has “low expectations” for the Liberal Party, as he responds to being labelled “economically illiterate” by Deputy Opposition Leader Sussan Ley.

“We have very low expectations of the Liberal Party and their friends,” Chalmers responded, after letting out a laugh when Ley’s sledge was put to him at a Canberra press conference.

“One of the reasons we start so far behind on these big economic challenges like housing, energy, national security and resilience, is because they wasted a decade stuffing around and failing, and it is on us to clean up the mess they left us and try and make up some of the lost ground that they left us,” Chalmers said.

“It is a …