Treasurer says he would welcome the opportunity to put the economy ‘front and centre’ in the upcoming election campaign

Labor’s fourth budget will contain another round of “meaningful and substantial” cost-of-living relief for Australian households, even as Jim Chalmers confirmed there would be a sharp deterioration in this financial year’s bottom line after back-to-back surpluses.

The treasurer said next Tuesday he will unveil a deficit close to the $26.9bn predicted at the December midyear update, and that the windfall tax gains from high commodity prices and a booming jobs market were now a thing of the past.

Sign up for Guardian Australia’s breaking news email

Sign up for Guardian Australia’s breaking news email

Continue reading...