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\u201cWe will assess those on a case-by-case basis,\u201d Ms King told The Australian Financial Review, <\/em>adding that the veracity of state and territory cost increase claims would be tested.<\/p>\n\n\n\n An independent review of the infrastructure investment pipeline last year found a build-up of tens of billions of dollars of cost blowouts, and a 10-year plan that was impossible to deliver, prompting an overhaul of how the federal government delivers money.<\/p>\n\n\n\n NSW and WA last week joined all but Tasmania and the Northern Territory \u2013 which have had ministerial changes \u2013 in signing up to a new five-year funding deal with strict rules around spending and reporting.<\/p>\n\n\n\n \u201cIt really means state governments can\u2019t incur huge cost increases on projects without really sharing some of that risk,\u201d Ms King said. It adds to Labor policy of adopting a default funding split of 50:50 with major states, which last year sparked outrage from cash-strapped premiers.<\/p>\n\n\n\n Ms King also indicated a decision on Melbourne Airport\u2019s controversial third runway would be made this month, while an interim airline ombudsman would be ready to take customer complaints from the first half of 2025.<\/p>\n\n\n\n Treasurer Jim Chalmers on Sunday revealed ongoing budget pressures from falling iron ore and coal prices and general volatility, particularly in China,<\/a>would flow through to the mid-year economic and fiscal outlook (MYEFO).<\/p>\n\n\n\n \u201cWe\u2019ve got pretty severe budget constraints,\u201d he said.<\/p>\n\n\n\n \u201cWhat we\u2019ve seen in commodity markets this year is that iron ore and net coal have come off about 40 per cent. Oil has come off I think about 20 per cent, or just over that, since around April,\u201d he said.<\/p>\n\n\n\nGlobal economic uncertainty<\/h2>\n\n\n\n