The Latest Breaking News from Federal Budget

Vote is a major step towards finalising the 2024 federal budget after months of deadlock in the divided Congress.

US lawmakers were set to vote Wednesday to end a long-running row over the federal budget with a giant bill to fund several major federal agencies through the fall, averting a partial shutdown due to start at the weekend.

More than 40 health groups have called on the government to make climate and health funding a priority after services were challenged by extreme weather.

New Congressional Budget Office data shows how higher-than-expected immigration is a win for the economy and the federal budget.

The Bank of Canada warns that the federal budget in Canada may pose challenges to the fight against inflation, highlighting potential issues and risks.

High-end vehicles will need to become more fuel-efficient to avoid a 33 per cent tax under changes in a federal budget update.

The federal budget update acknowledges more must be done to secure and wire up renewables, with clean energy "superpower" status remaining a work in progress.

The federal budget is headed for a small $1.1 billion deficit this financial year, according to the update released by Treasurer Jim Chalmers and Finance Minister Katy Gallagher on Wednesday morning.

Mid-year economic and fiscal outlook reveals $12.8bn improvement in budget bottom line due to strong labour market and commodity prices

The federal budget is looking healthy thanks to a surprise revenue boost but inflation is proving persistent and is continuing to hurt household finances.

State and federal treasurers are yet to reach an agreement on the GST no worse off guarantee but talks are set to continue at national cabinet next week.