Jim Chalmers promises cost-of-living relief for all ages as speculation on surplus intensifies

Jim Chalmers has said there will be various forms of energy, housing and cost-of-living relief in Australia’s 2023 budget. Photograph: Lukas Coch/AAP

Investment in the “clean energy transformation”, additional measures to tackle housing affordability and a cost of living package targeted at the most vulnerable but “not all limited by age” will feature in Tuesday’s budget, the treasurer has said.

Jim Chalmers revealed key elements of the budget in an advance interview with Guardian Australia confirming it would show a “substantial improvement” in the bottom line built on “better prices for our exports”, lower unemployment and “welcome wages growth, faster than anticipated”.