We're back to business and not a moment too soon. Treasurer Jim Chalmers made that clear yesterday when he stepped forward to provide a preview of next month's budget. The good news: the budget is in better shape - $50 billion worth of better shape - thanks to windfall revenue pouring in from the resources sector and fewer payments going out. The bad news: the fuel excise relief will come to end as scheduled on September 29.

Smiley Jim promised a basic "bread and butter budget", which in this inflationary period is what it needs to be. Pump money into the economy now and the forecast inflation peak of 7.75 per cent expected in December risks blowing out. With 700 million litres of low excise fuel sitting in tanks underneath servos, Chalmers said, there was no need to see fuel prices jump overnight. Yeah, right, I hear you mutter. It will be fascinating, if a little painful, to see which servos get the memo and do the right thing.

The Treasurer also warned against thinking the lift in revenue on the back of stronger prices for commodities would be permanent. Prices for iron ore and coking coke are both down significantly over the rolling two-week average, he said. What he didn't say was that hanging over everything is the threat of global recession as central banks around the world tighten the screws to rein in inflation. Should that materialise, commodity prices will tumble, taking the windfall revenue with them.

So the government has some tricky terrain to tread over the next few months. It still enjoys a commanding lead in the polls but any perception it is failing to address everyday concerns about cost-of-living pressures will erode its standing. Like a bull at the gate, shadow treasurer Angus Taylor was snorting and stamping after Chalmers' appearance, accusing the government of lacking a clear plan to ease the cost of living.

Sure, he conceded, fuel prices had dropped back since the post-Ukraine invasion peaks, but Australians "are feeling pain at the price check out, feeling pain when they buy furniture, when they renovate, and in many other areas." The key word in there is "renovate".

He seems to have forgotten it was his government's vision of a tradie-led recovery from the pandemic - the HomeBuilder grant - that helped get us to where we are today. Reserve Bank governor Philip Lowe said so on Friday, when he spoke of the unintended consequences of the scheme. "The result was a big jump in prices, which has had a material impact on the overall inflation rate in Australia," he said. That's because some 137,000 Australians benefited from the grant between June 2020 and March 2021 which fuelled demand when supply chain constraints were at their worst, leading to a jump in building costs of about 20 per cent. Angus should pay attention if he wants us to pay attention to him.

It seems all those shiny new benchtops funded by us taxpayers will have to be satisfied with bread and butter for the foreseeable. But perhaps we should save some humble pie for the shadow treasurer.

TAKING A SHORT BREAK: Our National Day of Mourning tomorrow means the Echidna will be spending the day in its burrow, pondering the monarchy, but we'll be back on Friday.

HAVE YOUR SAY: Have you tried getting a tradie lately? How hard was it? Have you delayed any building or renovation plans until prices come back down? Was it folly to stimulate the building industry during the pandemic when interest rates were at rock bottom? Email us: echidna@theechidna.com.au

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IN CASE YOU MISSED IT:

- Australia's oldest man, Frank Mawer, has died at 110 after being weakened by a bout of COVID-19. Mr Mawer died in his sleep on Saturday at Central Tilba, on the NSW South Coast, at the home of his son Philip. Until November last year Mr Mawer lived independently in his own apartment at Gymea in Sydney's south, supported by HammondCare At Home staff. He moved to the South Coast to be with his son, a nurse, and his partner after a fall.

- Independent ACT Senator David Pocock wants Federal Parliament to move to sit for at least one, possibly more, days in 2022 to debate "some really urgent pieces of legislation" including the private members' bill to restore territory rights. The senator is seeking support to extend the sitting days for the year after the parliamentary calendar was disrupted due to the death of Queen Elizabeth II.

- TV presenters on Australia's Nine News failed to recognise United Kingdom Prime Minister Liz Truss as she arrived at Westminster Abbey for the funeral of the Queen. The mix-up happened on Nine as it was covering the funeral, attended by prime ministers and presidents from around the world - including Australian Prime Minister Anthony Albanese. But it was the UK Prime Minister, admittedly only a few days in the job, who drew blanks from presenters Peter Overton and Tracy Grimshaw.

THEY SAID IT: "Predicting rain doesn't count. Building arks does." - Warren Buffett

YOU SAID IT: Pomp and the UK's troubled circumstance, was it all worth it? And King Charles' tax-free inheritance. Does it all make you feel good being Australian?

David doesn't think the ceremony was worth it. As for King Charles' tax-free inheritance: "It is patently absurd that the rich(est) don't have to pay this tax. Even more stupid than us going ahead with the stage-three tax cuts." And being Australian: "Until the 2022 federal election, I was quite embarrassed to call myself Australian, especially since the demise of Julia Gillard. Now, I am slowly starting to feel better about it. However, my feelings about Australia are knocked around when Dan Andrews proposes to call the Maroondah Hospital the QE2 (or KC3) Hospital, when the stage-three tax cuts come up for discussion, when the Voice to Parliament is challenged, when Sky News is mentioned, and when the members of the opposition or Pauline Hanson open their mouths."

Peter warns the pomp's not over yet: "Apologies in advance to fellow followers of the Echidna. Before you lull yourselves into a false sense of security and think that the lengthy, pompous, extravagant and ceremonial burial of the late Queen is now the end of it, think again. This has only been the opening act of a stage show that has a long way to go. The coronation. Need I say any more? And on top of that, thanks to the Prime Minister, a probable royal visit. I can almost feel it in my water: media (particularly TV) coverage ad infinitum and ad nauseam. Public holidays. All over again and again and again."

Alan reckons the pomp was all worth it: "Until you've been to London and seen the history and the money the monarchy brings into the country it's something you can't replace. Give King Charles his free estate inheritance as the properties will never be sold. When again are we ever likely to see so many people pay their respects to one woman and so many people from presidents to common folk gathered for a funeral? And what a show was put on."

Wayne cuts straight to the alliterative point: "A parade for pomposity, privilege and parasites on the public purse."

David says: "Despite all the extravagance and waste portrayed on Monday night I could not help comparing Britain with Putin's Russia, where if you disapprove you fall out of a window and billions are spent on an undeclared war."

Ces says the UK's future is not looking too flash: "I suspect things will go south very fast once the realities of life that you noted hit. There's not the same level of affection for Charles at all, and that divide between rich and poor is only deepening. Add a bumbling and inept Tory government to the mix, and the times are going to be interesting indeed, including for us. Great article as usual."

John is mystified: "Like many TV stars, the 'royal mob' is mainly famous for being famous. Kardashians on steroids. Why Australia has to keep being suckered into this arrangement is rather beyond my comprehension."

Donald says: "Great cartoon, Fiona. Spot on too. I loved the pageantry but I doubt its lasting effects on me. I guess the funeral was similar to the ending of a lavish Puccini or Verdi opera: emotionally draining and even inspirational, but back to work today. Nothing to see here, folks."

Linda tells us how she endured the show: "I have been watching a bizarre pantomime on TV. Lots of costumes, marching, people lining up for days, bands and more parades. Some parts I watched had no sound but someone clever put the Game of Thrones theme behind it, another the Stars Wars march - they both worked. I find it hard to imagine that any system that maintains such inequality could be celebrated in such an offensive manner, so decided it must have been another big new fantasy series."

Lyn says the new king needs to set an example: "King Charles should definitely pay inheritance tax. The royal family should also have power restrictions in line with all UK citizens. Those large palaces use a lot of unnecessary power. King Charles needs to pay for his mother's funeral or at least 50 per cent of the cost. This would be a start to winning over the support of the people. He needs to be seen as sacrificing when the people are struggling financially."

Ian says: "I spent my whole evening watching the funeral of a 96-year-old woman on the other side of the world, who I had never met, and you ask if the pomp and ceremony was worth it. There is no better example of the power that a small island nation still holds on the world stage, despite the disintegration of its empire and its separation from Europe."