Jim Chalmers has warned there will be little room for more cost-of-living support in his fifth and “most responsible” budget yet, as he ruled out an immediate extension of the 26-cent cut to the fuel excise and downplayed hopes for additional tax relief for workers.
The treasurer also said Australian voters would forgive Labor for breaking a pre-election vow not to touch negative gearing rules for landlords, which is set to form part of a package that would also scale back the capital gains tax discount in the name of intergenerational fairness.
