Treasurer Jim Chalmers and Finance Minister Katy Gallagher visit The Sydney Morning Herald office during the budget lock-up.James Brickwood
The world teeters on the edge of recession,he said,with a war in Ukraine driving up prices,interest rates marching higher and a global energy crisis biting.
His task was to hand down a budget that delivered his party’s election promises to help with the cost of living,strengthen our economy to weather the storm and start the process of budget repair.
“Our best defence against uncertainty around the world is responsible economic management here at home,” Chalmers told parliament.
As well as funding election commitments in childcare,paid parental leave and affordable housing,the,through cuts to Coalition programs,improving the tax take and redirecting spending.
Chief Political correspondent David Crowe breaks down what's in Treasurer Jim Chalmers' first budget and what it means for you.
Journalists,photographers,editors and artists fromThe Sydney Morning Herald spent hours in budget lock-ups in Canberra and Sydney crunching numbers and analysing the fine print to bring you the stories buried deep in the budget papers as well as the headline announcements.
In Canberra,Chalmers visited the office of theHerald, taking questions from our reporters before attending an “all-in” press conference.
At 7.30pm,as the Treasurer got to his feet in Parliament to deliver his speech,we published our stories,videos,graphics and commentary online,bringing you live news and analysis as well as. On Wednesday morning,our print papers will feature 12-page budget special editions.
For a comprehensive view of the news,I recommend chief political correspondentDavid Crowe’s.
If you’re short on time,I’d suggest and the story,prepared by national affairs editorJames Massola and reporterMillie Muroi.
What our experts say
Economics editorRoss Gittins writes Chalmers has delivered a,not so much good or bad as incomplete. Gittins writes the budget “hints at hard decisions,but doesn’t make them”.
Political editor “Dr Chalmers has observed the sacred doctor’s obligation under the Hippocratic oath - do no harm”.
Senior economics writer:“This budget won’t make your life cheaper in the short term....but in the longer term,it’s the best shot we have of bringing rampant price pressures to heel.”
Senior economics correspondentShane Wright says:“There’s five stubborn donkeys of debt and deficit and their names are interest,aged care,health,defence and NDIS.”
In his analysis,Crowe says Labor’s promises of lifting wages and cutting power bills are.
Senior economics writer Matt Wade,writing that perhaps the most significant change for gender equity is not the policies but the ambition expressed in the budget.
In other news from the budget
Clancy Yeates andNick Bonyhady report that in tax under a new clampdown.
Rachel Clun that aims to build 1 million new homes by the end of the decade.
Lisa Visentin details as it prepares for the referendum on the Voice to Parliament.
Mike Foley totals up the and meet the government’s climate targets.
Melissa Cunningham reveals details of the taskforce that will crack down on rorting and non-compliance in the National Disability Insurance Scheme.
If you’re looking for something lighter,check out. What kind of “bread and butter” budget has the treasurer delivered? Flora margarine with Tip-Top or Danish Lurpak and artisanal sourdough?
,The Sydney Morning Herald says the Albanese government deserves credit for delivering on election promises without adding to the deficit but even Chalmers has admitted he still has a “much bigger job to do”.
On Wednesday morning,hear David Crowe and Shane Wright unpack the budget on,hosted by economics correspondent Rachel Clun. It’ll be well worth a listen.
Then later in the morning,Ross Gittins and Peter Hartcher will answer your budget questions in a special follow-up episode ofPlease Explain. What do you want to know?
Finally,if you’re interested in federal politics,I encourage you to sign up to our weekly Inside Politics newsletter,where Jacqueline Maley cuts through the noise every Friday with the best news,opinion and wry humour..
Thank you for joining us on budget night.