Don’t expect a ‘big cash splash’ in this year’s budget, Jim Chalmers tells taxpayers

Jim Chalmers says recent spending announcements on defence, paid parental leave super and the tax cuts mean there will be no big surprises on Labor’s federal budget night. Photograph: Bianca de Marchi/AAP

Australians should not expect a “big cash splash” from this year’s federal budget although the government will bank a smaller share of any increase in expected revenues, the treasurer, Jim Chalmers, told a Sydney audience.

Chalmers said there would likely be “additional cost-of-living help in the budget but it won’t be anywhere near the magnitude of the tax cuts”.