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Politics
Michelle Grattan, Professorial Fellow, University of Canberra

Albanese government's first budget delivers election promises but forecasts soaring power prices

Mick Tsikas/AAP

Treasurer Jim Chalmers has brought down a no-surprises budget that delivers Labor’s election promises but warns Australians “hard decisions” are needed for the “hard days to come”.

The government has kept its spending tight, and returned nearly all the substantial revenue upgrade to budget repair, declaring it has put a “premium on restraint”.

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