Treasurer Jim Chalmers arrives at Parliament House declaring ‘more help is on the way in this budget’

Treasure Jim Chalmers has arrived at Parliament House for Budget Day 2024 telling Aussies that are doing it tough “there’s more help on the way in this budget.”

Chalmers is set to hand down a ‘responsible’ budget that will reveal a $9.3 billion surplus for the 2023/24 financial year, the first time the country’s finances will be in the black for consecutive years in almost two decades.

“This will be a responsible budget which eases cost of living pressures, fights inflation and invests in a future made in Australia,” Chalmers said.

“The cost of living relief in this budget will be substantial, and it will be responsible. There will be a tax cut for every taxpayer and there will be more help for people make ends meet.”

Chalmers noted that although “the primary focus in this budget is cost of living and fighting inflation“, the Government has also found a way to invest in the future.

“There will also be substantial investments in more homes for Australians, in strengthening Medicare and the care economy, in reforming universities and boosting our skills base and investing in the jobs and industries which will power our future,” Chalmers said.

“The defining feature of the Albanese Government is responsible economic management, and the defining feature of the budget tonight will be responsible economic management as well.’’

Highlighting the second budget surplus, Chalmers noted that economic management is why this budget can help Australia now and into the future.

“The second surplus is not an end in itself. It’s a demonstration that we’ve been able to get the budget in much better nick, so that we can make room for our priorities, including easing the cost of living and investing in a future made in Australia..

“It’s an important way that we make room to help people and to invest in the future of our communities and our economy as well.

“A second surplus would be the first back-to-back surplus in almost two decades. This is a demonstration of the responsible way that we’ve gone about managing the budget,’’ Chalmers added.

And the final word from the Federal Treasurer before he strode into parliament: “The budget will put downward pressure on inflation, not upward pressure on inflation. We’ll do that by showing spending restraint, by banking almost all of the upward revisions to revenue this year, by finding more savings in the budget and also by making sure that we design our cost of living, help so that it’s part of the solution to this inflation challenge, rather than part of the problem.’’