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Reuters
Reuters
Business
By Wayne Cole

Australia to reveal huge budget rebound, pledge restraint in response

Australia Labor Jim Chalmers
FILE PHOTO: People sit on a waterfront ledge looking toward the Sydney city centre skyline and Opera House amidst the easing of the coronavirus disease (COVID-19) restrictions in Sydney, Australia, May 26, 2020. REUTERS/Loren Elliott/File Photo

Australia's Labor government is set to reveal a vast improvement in the budget bottom line next week as its coffers bulge with tax windfalls, yet the outlook will be a sober one as fiscal challenges loom large.

Treasurer Jim Chalmers has spent weeks using "restraint" and "responsible" to describe his second budget since coming to power in May last year.

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