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Budget projected to record first surplus in 15 years. Follow the day’s news live
- What we know so far about treasurer Jim Chalmers’ 2023 budget
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Good morning and welcome to our budget day blog. I’m Martin Farrer and I’ll take you through a couple of overnight breaking stories before Amy Remeikis comes along for the main part of the day followed by tonight’s big reveal.
The main budget story overnight is that the budget is projected to record a $4bn surplus this financial year – the first in 15 years – thanks to soaring commodity prices and higher-than expected wage growth boosting tax revenues. The treasurer, Jim Chalmers, made the announcement which is a big change from the projected $78bn deficit in the Coalition’s March 2022 budget. We’ve got lots more budget stories of course, including Amy’s inside view of what it’s like in the Canberra lockup and, for the completists, everything we know about the budget so far. We know already that there is a $14.6bn cost-of-living package over the next four years: but we don’t know all the details.
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