The Latest Breaking News from Jim Chalmers

Tuesday: Sunak will be Britain’s next leader after no other candidate won enough support from fellow MPs. Plus: how to keep a friend spoiler-free – by lying

It’s budget day, and Treasurer Jim Chalmers says Australia’s deficit has been cut in half, from $78 billion to $37 billion, but by 2025-26 the interest bill will be almost $34 billion. (Aboriginal and Torres Strait Islander readers are warned that the following column mentions a deceased person.)

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

Treasurer Jim Chalmers has said the budget bottom line will be more than $40 billion better over the four-year forward estimates in total than previously forecast.

Treasurer Jim Chalmers will deliver on election commitments but emphasise spending restraint and preserving an improved fiscal position.

Jim Chalmers’ first budget to reveal $42bn improvement to bottom line across forward estimates but conditions will deteriorate after two years

Treasurer Jim Chalmers is promising a ‘solid, simple and sensible’ federal budget for the times. Here’s a summary of what has already been flagged on spending, savings and tax

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

Budgets are typically handed down once a year in May but the last few years have seen the budget timetable thrown out the window and the financial plans delivered at all different times of the year. Here's why.