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Budget Winners and Losers Revealed
Treasurer Jim Chalmers is set to unveil $64 billion in savings, with cuts to NDIS spending and changes to housing and tax breaks.
- On Wednesday night, Treasurer Jim Chalmers presents the Albanese government's fifth federal budget, targeting $64 billion in savings amid global energy shocks and rising costs of living.
- The war in the Middle East created a global energy crisis and inflation wave, forcing last-minute adjustments as the Reserve Bank delivered its third consecutive rate hike this year on Tuesday.
- Health Minister Mark Butler announced $15 billion in NDIS cuts over four years, reforming eligibility to assess "functional capacity that impacts their day-to-day living" rather than diagnosis alone, reducing projected 2030 costs to $55 billion from $70 billion.
- About 6.2 million workers will claim a $1,000 instant tax deduction without receipts, averaging $205 in savings, while the government earmarks $2 billion for infrastructure supporting up to 65,000 new homes over the next decade.
- Defence spending will increase by $53 billion over the next decade under the 2026 National Defence Strategy, while $10 billion bolsters fuel security reserves to 50 days through a government-owned reserve holding one billion litres.
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11 Articles
Coverage Details
Total News Sources11
Leaning Left3Leaning Right2Center2Last UpdatedBias Distribution43% Left
Bias Distribution
- 43% of the sources lean Left
43% Left
L 43%
C 29%
R 28%
Factuality
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