11/05/2026 21:26
The Guardian
Deputy Liberal leader says Coalition should listen ‘very carefully’ to results of Farrer byelection. Follow the latest updatesFederal budget 2026: what we know so farSee all our Australia budget 2026 coverageGet our breaking news email, free app or daily news podcastChalmers says budget will include efforts to ‘rebalance’ the tax systemJim Chalmers, the federal treasurer, said the war in the Middle East has been a “big influence” on the budget, saying the crisis and its impact on fuel prices had made the inflation challenge much worse and put pressure on economic growth.We’ve made sure that our policy decisions are making a positive contribution to the budget rather than detracting from the budget position. And we’re showing spending restraint as well. And so, what that means is the budget tonight will be stronger than it was in December … It will be focused on resilience and reform.There will be efforts to rebalance the tax system so that we can better align the treatment of income from people who work with the people who earn their income in other ways. … The fairer the tax system is and the stronger the tax system is too.Overwhelmingly, the tax system and the housing market is not working, particularly for younger Australians. There is an urgency now to fixing this.We’ve made it clear that we’ve been trying to look in housing. Our focus had been on supply and it remains on supply. We need to build more houses in this country.But we also need to look at all of the different, I guess, impacts and levers available to government to respond to this housing challenge. Continue reading...
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