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The Latest Breaking News from Federal Budget

Budget 2022: Chalmers promises five-point plan for cost of living relief — as it happened

Labor has delivered the second federal budget of the year, announcing a plan for cost of living, wages and housing.

ABC News

Jim Chalmers says the Coalition is responsible for $1 trillion of debt in the federal budget. Is that correct?

Treasurer Jim Chalmers says the budget is "heaving with a trillion dollars in Liberal Party debt". Is that correct? RMIT ABC Fact Check investigates.

ABC News

Cash injection to fix GP shortage high on federal budget wish list for Tasmania

Brighton resident Marilyn Wiltshire was "distraught" when her local general practice clinic closed. But there may be some hope for her and fellow locals in the federal budget.

ABC News

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Treasurer Jim Chalmers expected to reveal a $40 billion improvement to the federal budget bottom line

Treasurer Jim Chalmers says his first budget will show a multi-billion-dollar improvement on forecasts from the previous government's budget.

ABC News

What do you want to know about the federal budget and how it affects you? Ask a question or share your story

Do you have questions about the federal budget or are you concerned about how it affects you? Tell us more

ABC News

Extra university spots to upskill nation

An extra 20,000 university places have been created in key fields to help address Australia's skill shortage.

AAP

Labor’s ‘rorts and waste’ audit to deliver $10bn in savings to federal budget

Government will also shuffle funds and axe Coalition projects to free up $11bn for their own policy priorities

The Guardian - AU

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Chalmers offensive: crunch time as treasurer faces first federal budget

A volatile global economy looms as Jim Chalmers assembles the Albanese government’s inaugural budget, where he will be judged on delivering on election promises while exercising restraint

The Guardian - AU

Student debt forgiveness causes monthly deficit to jump 562%

The Treasury Department says that the federal budget deficit was 562% higher on a monthly basis compared with September 2021

The Independent UK

Deficit cut in half last year, but more red ink lurks - Roll Call

The federal budget deficit for the fiscal year that ended Sept. 30 fell to just under $1.4 trillion, a 50 percent drop from the prior year.

Roll Call

What we know about the ‘bread and butter’ budget from Jim Chalmers

Labor’s first federal budget in more than a decade is now just days away, with Treasurer Jim Chalmers set to deliver “bread and butter”.

The New Daily

Australia floods to dent Dec-qtr GDP, spur inflation - Treasurer

Widespread floods that have inundated large parts of Australia's southeast will dent the country's economic growth and increase inflation, Treasurer Jim Chalmers said on Friday, ahead of next week's federal budget.

Reuters

Jim Chalmers is ignoring his own warnings of a possible recession

The Treasurer appears to be ignoring his own warnings ahead of the federal budget about the need to be prepared for a global recession.

The New Daily

Our environmental responses are often piecemeal and ineffective. Next week's wellbeing budget is a chance to act

Treasurer Jim Chalmers’ federal budget next week will for the first time include a section on wellbeing, which aims to measure how well Australians are doing in life.

The Conversation

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AAP

Cost of living relief could spur inflation

Treasurer Jim Chalmers says any cost of living relief will need to be targeted in the federal budget to avoid further financial pressures on Australians.

Asharq Al-Awsat

UAE Approves $68.6 Bln Federal Budget for 2023-2026

The cabinet of the United Arab Emirates, chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, approved on Monday the federal budget 2023-2026, with a total estimated expenditure of AED 252.3 billion and estimated revenues of AED 255.7 billion.…

ABC News

Paradise Dam wall raise funds not allocated in federal budget as farmers brace for summer rain

Queensland farmers are worried the restoration of a lowered dam wall is taking too long as they prepare for a wet summer.

Reason

The Political Class Has Consistently Ignored Warnings of Fiscal Doom. Now Americans Are Paying the Price.

Warnings of inflation and rising interest rates have long been tied to high and rising debt levels.

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ABC News

Superannuation tax concessions are costing the federal budget billions. Would changes to winding them back affect you?

We want to know if changes to super concessions will affect you and why? Share your story or ask us a superannuation question

ABC News

Treasurer Jim Chalmers flags new budget strategy, but tax cap 'plucked from the air' can stay for now

The Albanese government's first federal budget will include a significant rewriting of official budget guidelines and will also see forecasts for unemployment revised as a "consequence" of a deteriorating global outlook, the treasurer has flagged.

Tribune News Service

Commentary: How Fed-induced inflation is battering your wallet

A common sound bite today is that the Federal Reserve’s recent interest rate hike is pushing the nation toward recession. But that’s like beginning a book on page 813. The origin of today’s economic malaise is prolonged and massive federal budget deficits, combined with a Fed willing to finance those…

The Guardian - AU

Jim Chalmers announces $50bn improvement in federal budget compared to March projections

Treasurer says improvement comes in large part from higher than expected commodity prices boosting returns from mineral exports

AAP

Treasurer reveals $50b budget turnaround

Jim Chalmers has revealed government finances were better than expected for the previous financial year but foreshadowed tough decisions in his first budget.

AAP

PM warns of difficult decisions in budget

Anthony Albanese has warned of difficult decisions ahead in the federal budget, as the government looks for cost-of-living relief measures.

Tribune News Service

Matthew Yglesias: A debate over the deficit is just what America needs

With unemployment low, inflation high and interest rates on the rise, the time is right to bring back an old idea: bipartisan talks to reduce the federal budget deficit.

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