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This Budget Will Be Attacked as a Nightmare. That’s Exactly What the PM Wants
The budget pairs tax relief for workers and home buyers with $37.8 billion in NDIS savings and tighter rules for investors.
- On Tuesday, Treasurer Jim Chalmers handed down his fifth budget, delivering major tax changes and cost-of-living sweeteners to support Australian households.
- The Government seeks to control rising costs by restructuring National Disability Insurance Scheme eligibility, a move expected to yield $37.8 billion in savings over four years.
- Investors face new restrictions on negative gearing for existing properties, while workers receive a $250 tax offset and $1000 instant deduction for work-related expenses.
- New funding includes a $25 billion boost to Medicare and public hospitals, alongside $53 billion allocated for defence programs including autonomous systems and the Australian Submarine Agency.
- Treasury expects inflation to spike at 5 per cent this year, while tax benefits for EVs costing $75,000 or less will phase down to encourage uptake of cheaper models.
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Sydney Morning Herald+3 Reposted by 3 other sources
This budget will be attacked as a nightmare. That’s exactly what the PM wants
By fighting to protect investors and older people, the Coalition could defend a dying demographic while Labor looks to a better future for younger voters.
·Sydney, Australia
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Coverage Details
Total News Sources41
Leaning Left29Leaning Right0Center1Last UpdatedBias Distribution97% Left
Bias Distribution
- 97% of the sources lean Left
97% Left
L 97%
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