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Federal politics live: Treasurer Jim Chalmers unveils mid-year budget update, deficits $21.8bn billion deeper than expected

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
Treasurer Jim Chalmers will unveil the mid-year budget update today, which is expected to confirm the budget is headed back into years of deficits after two consecutive surpluses. Follow all the updates in our live blog.
The article from ABC News, published on December 18, 2024, discusses the mid-year budget update in Australian federal politics. It highlights Treasurer Jim Chalmers' announcement of a $13.9 billion surplus for the current financial year, which is an improvement from the previously forecasted $9.3 billion. This surplus is attributed to higher commodity prices, increased tax receipts, and lower unemployment. Key points include a focus on cost-of-living relief measures, investments in renewable energy, and infrastructure projects. Additionally, there are mentions of political reactions, with the opposition criticizing the government for not doing enough to address housing affordability and other pressing issues. The article also touches on other political developments, including discussions on national security, foreign policy, and upcoming legislative agendas.

Read the Full Australian Broadcasting Corporation Article at:
[ https://www.abc.net.au/news/2024-12-18/federal-politics-live-blog-mid-year-budget-update/104735968 ]