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Treasurer Jim Chalmers has announced that Australia's upcoming budget will be the most responsible yet, emphasizing fiscal restraint and debt reduction. The government plans to save more than it spends for the second consecutive budget, with any revenue gains directed toward improving the budget bottom line. This approach aims to support essential services and manage inflation concerns through controlled spending growth.
- ▪Jim Chalmers stated the upcoming budget will be the Albanese Government's most responsible yet.
- ▪Next week's budget is expected to include a larger-than-usual gross saving and mark the second consecutive surplus in savings over spending.
- ▪Any increases in revenue will be banked to help pay down debt and strengthen the budget.
- ▪The government aims to fund key services like Medicare, aged care, and cost-of-living relief through disciplined economic management.
- ▪Labor is working to keep real spending growth under control amid ongoing inflation concerns.
Opening excerpt (first ~120 words) tap to expand
6m ago17.48 EDTJim Chalmers says budget will be 'our most responsible yet'Josh ButlerThe government is boasting of making bigger than usual savings in next week’s budget, with Jim Chalmers saying his fourth budget will have “more restraint”.The treasurer said: double quotation markResponsible economic management has been a hallmark of this Albanese Government and the May Budget will be our most responsible yet. It’s understood next Tuesday’s budget will include a bigger than usual gross saving, and represent the second consecutive budget where the government says it has saved more than it has spent.
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