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The "cost of living" budget
Treasurer Jim Chalmers delivering his third federal budget. 14 May 2024
- 1 hr ago
- Rachael Bolton
The 14 measures you might have missed
From fast-tracked passports to sweet potato levies, there are many more things in the 1000 pages of federal budget documents than you might imagine. Here are some of them.
- 1 hr ago
- Tom Burton
Power bill relief, tax cuts in a budget ‘for every Australian’: Chalmers
The Treasurer has handed down his third budget, promising cost-of-living relief to struggling Australians while delivering a second consecutive surplus. How the day unfolded.
- Updated
- Gus McCubbing, Esther Han and Maxim Shanahan
The budget in five key charts
The five key graphs to understand the government’s latest federal budget.
- Edmund Tadros
Made in Australia unleashes a lobbyist nirvana
As the treasurer hands down his third budget, hasn’t he aroused a stupendous chorus of critics.
- Updated
- Myriam Robin and Mark Di Stefano
Labor pumps $630m into green jobs
Labor will spend more than $630 million to help secure workers for its signature Made in Australia agenda.
- Tom McIlroy
Opinion & Analysis
This is the most irresponsible budget in recent memory
The government set itself a simple standard: not to make the Reserve Bank’s job harder. Michele Bullock may just choke on her cornflakes.
Economist
There is method in the energy rebate economists will hate
This is a budget that acknowledges the government is facing a mountain of problems that cannot be solved any time soon.
Columnist
This budget won’t be a catalyst for rate cuts
When setting monetary policy, the RBA will look through temporary factors impacting prices to understand the underlying trend for inflation within the economy.
Economist
Budget spending spree that locks in a decade of deficits
Given all the good luck since coming to office, there are no excuses for Labor not running successive substantial surpluses to repair the budget buffers and start repaying the pandemic debt at this point in the cycle.
Editorial
More From Today
- Opinion
- Federal budget
This is the most irresponsible budget in recent memory
The government set itself a simple standard: not to make the Reserve Bank’s job harder. Michele Bullock may just choke on her cornflakes.
- 1 hr ago
- Steven Hamilton
- Opinion
- Federal budget
There is method in the energy rebate economists will hate
This is a budget that acknowledges the government is facing a mountain of problems that cannot be solved any time soon.
- 1 hr ago
- Laura Tingle
- Opinion
- Federal budget
This budget won’t be a catalyst for rate cuts
When setting monetary policy, the RBA will look through temporary factors impacting prices to understand the underlying trend for inflation within the economy.
- Warren Hogan
- Opinion
- The AFR View
Budget spending spree that locks in a decade of deficits
Given all the good luck since coming to office, there are no excuses for Labor not running successive substantial surpluses to repair the budget buffers and start repaying the pandemic debt at this point in the cycle.
- The AFR View
- Opinion
- Federal budget
Chalmers’ Made in Australia is just a drop in the bucket
The new strategy is just a drop in the bucket compared with the US, and taxpayers can be relieved that the treasurer has been remarkably frugal in its funding.
- Karen Maley
- Opinion
- Federal budget
The costs of the future still start adding up today
Jim Chalmers is betting he can get the balance right between curbing inflation in the short term while promoting growth in the longer term.
- Jennifer Hewett
Treasury expects unemployment to climb to 4.5pc by this time next year
Sluggish hiring could lead cautious households already grappling with higher interest rates to save rather than spend the windfall from tax cuts.
- Michael Read
Spending addiction fuels a new decade of deficits
This pre-election budget includes $300 in power bill discounts for every household, $1.9 billion in rent assistance and $14 billion in tax credits for critical mineral miners and green hydrogen producers.
- Phillip Coorey
Labor’s $24b green energy superpower bet
The Albanese government has made a $24 billion bet on turning Australia into a renewable energy superpower, powered by green hydrogen, critical minerals processing and green commodity exports over the coming decade.
- Ben Potter
Housing investment surge predicted
After three years of falling or stagnating dwelling activity, Treasury expects a 6.5 per cent rise in 2026. The property sector has been more pessimistic.
- Campbell Kwan
Tax fraud, capital gains tax crackdown to raise $3.3b
The budget includes a broad crackdown on tax fraud, the shadow economy and the avoidance of capital gains tax by foreign residents, which Labor hopes will raise $3.3 billion.
- Tom McIlroy
$300 off every household’s power bill in cost-of-living cash splash
In addition to a tax cut from July 1, every household will receive an electricity bill discount as part of a $7.8 billion cost-of-living package.
- Ronald Mizen and Maxim Shanahan
- Opinion
- Federal budget
Chalmers crumbles and gives up spending restraint
Jim Chalmers is like a bloke who successfully dieted for two years but crumbled after someone shoved a bucket of KFC under his nose.
- Phillip Coorey
The winners and losers in the federal budget
Green business, public servants, renters and taxpayers are budget winners while consultants, the Reserve Bank and tax cheats do poorly.
- Nick Bonyhady, Maxim Shanahan and Campbell Kwan
Solomons, PNG win in $1b-plus Pacific play to ward off China
The government will provide funds for telecommunication cables in the Solomon Islands, help Papua New Guinea with a $600 million bailout and upgrade embassies.
- Andrew Tillett
PsiQuantum deal will cost almost $30m just to check it works
But most of the details of the government’s marquee bet on the potentially powerful technology have been kept secret in the budget.
- Nick Bonyhady
- Opinion
- Federal budget
Chalmers’ latest effort basks in a green glow
Sit back and behold Jim Chalmers’ big green Australian budget. But making forecasts is easy, and will voters buy the story?
- Andrew Clark
Labor adds $16.5b road and rail projects
The government committed $16.5 billion to road and rail projects, including $4.1 billion for 65 new developments – just 12 of which were revealed in the budget.
- Ronald Mizen
Contractors in the firing line as public service headcount soars
The number of bureaucrats has increased nearly 10 per cent in one year alone and some $1.8 billion has been allocated to overhaul staffing at Services Australia.
- Tom Burton
R&D tax incentive to blow out by $2.6b
Tax breaks for companies and superannuation payments for veterans and public servants have overshot expectations, adding billions in costs to the budget.
- Joanna Mather
