A Budget formed against the backdrop of a massive oil shock from a foreign war, has also given a government accused of standing for nothing a chance to boldly break promises.
Australia will push ahead with its plan to deliver the Henderson ship building precinct south of Perth with an initial $12 billion allocated in this year’s Federal Budget.
Investors will be slugged billions in additional tax while working Australians will receive modest relief under a Budget Treasurer Jim Chalmers is hailing as the ‘most ambitious’ in decades.
Aussies will be paying more at the bowser, checkout and building site but the Treasurer is optimistic the Middle East war won’t significantly damage the economy.
The Federal Government will spend $85.2 million fast-tracking migrant tradespeople in hopes it will ease a dire shortage of skilled construction workers.
The worst kept secret in Australian politics is finally out, with the Albanese Government fessing up to a major overhaul of negative gearing and capital gains tax rules for investors.
Jim Chalmers says Australia will avoid a recession but must pursue reform, announcing an expected overhaul of housing taxes and a $250 tax handout for workers.