Live: Treasurer to unveil $6 billion improvement to federal budget
Treasurer Jim Chalmers will today unveil a $6 billion improvement to the federal government's forecast deficit.
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Plibersek defends cost-of-living assistance ahead of interest rate decision
By Joshua Boscaini
By Joshua Boscaini
Social Services Minister Tanya Plibersek has defended Labor's cost-of-living assistance ahead of an expected interest rate hike tomorrow.
The Reserve Bank will announce its interest rate decision, with the continuing Middle East war expected to factor in the decision.
Speaking to Channel Seven with One Nation MP Barnaby Joyce, Plibersek has spruiked Labor's efforts to increase bulk billing and lower prescription costs.
"The fundamentals of the Australian economy are very strong and what we want to do is take those day-to-day pressures off Australians. We're doing that," Plibersek says.
Asked how Joyce would make people's lives better, the One Nation MP said he would stop spending money on renewable energy.
"Our inflation rate is the highest of the developed countries. Let's just get that correct. The highest in developed countries. And that's making people poorer," Joyce says.
But pressed on what policies One Nation brings, Joyce has raised the idea of refurbishing every coal-fired power station.
"Well, you can't do much better than Snowy Hydro 2.0. I'll say Malcolm Turnbull's baby is going to cost $2 billion, now it's $42 billion. You could have refurbished every power station in Australia with that money that."
Key Event
Treasurer set to unveil $6 billion boost to federal budget
By Joshua Boscaini
By Joshua Boscaini
Treasurer Jim Chalmers and Finance Minister Katy Gallagher are today set to unveil a $6 billion improvement to the federal budget.
The Final Budget Outcome for 2025-26 is expected to show a deficit $6 billion lower than the $28.3 billion deficit forecast in the budget in May.
The announcement comes just a day before the Reserve Bank of Australia looks set to increase interest rates for the fourth time this year.
Labor has consistently pointed to gross debt as a percentage of GDP being lower than other major advanced economies such as the US, Canada and the UK.
Good morning 👋
By Joshua Boscaini
By Joshua Boscaini
Hello and welcome to our federal politics live blog! It's great to have you join us here on the federal politics live blog.
I'm Josh Boscaini joining you live from Parliament House in Canberra, here and ready to bring you all of today's federal politics news.
First up, Treasurer Jim Chalmers is expected to unveil a $6 billion boost to the federal government's forecast deficit today.
We might also get some more reaction and fallout from that OpenAI agent hack of a Medicare statistics portal announced last week.
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