The Latest Breaking News from Federal Budget

Government will also shuffle funds and axe Coalition projects to free up $11bn for their own policy priorities

A volatile global economy looms as Jim Chalmers assembles the Albanese government’s inaugural budget, where he will be judged on delivering on election promises while exercising restraint

The Treasury Department says that the federal budget deficit was 562% higher on a monthly basis compared with September 2021

The federal budget deficit for the fiscal year that ended Sept. 30 fell to just under $1.4 trillion, a 50 percent drop from the prior year.

Labor’s first federal budget in more than a decade is now just days away, with Treasurer Jim Chalmers set to deliver “bread and butter”.

Widespread floods that have inundated large parts of Australia's southeast will dent the country's economic growth and increase inflation, Treasurer Jim Chalmers said on Friday, ahead of next week's federal budget.

The Treasurer appears to be ignoring his own warnings ahead of the federal budget about the need to be prepared for a global recession.

Treasurer Jim Chalmers’ federal budget next week will for the first time include a section on wellbeing, which aims to measure how well Australians are doing in life.

Treasurer Jim Chalmers says any cost of living relief will need to be targeted in the federal budget to avoid further financial pressures on Australians.

The cabinet of the United Arab Emirates, chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, approved on Monday the federal budget 2023-2026, with a total estimated expenditure of AED 252.3 billion and estimated revenues of AED 255.7 billion.…

Queensland farmers are worried the restoration of a lowered dam wall is taking too long as they prepare for a wet summer.