Australia news live: Chalmers defends multi-billion dollar budget deficit claiming it is ‘much much smaller’ than what Labor inherited | Australia news

Australia news live: Chalmers defends multi-billion dollar budget deficit claiming it is ‘much much smaller’ than what Labor inherited | Australia news


www.theguardian.com

Chalmers defends multibillion-dollar budget deficit as ‘much smaller’ than what Labor inherited

Asked how bad the budget looked and why, Chalmers confirmed there would be a deficit in this year’s budget, but “much, much smaller” than what Labor “inherited from our political opponents”.

We have delivered back-to-back surpluses for the first time … in two decades. Our opponents promised, and every year thereafter they delivered, precisely zero surpluses. We have delivered two surpluses in our first two years and that has happened for the first time in almost two decades.

On top of that we have helped engineer the biggest ever nominal turnaround in the budget in the history of this country – a $200bn improvement in the budget, which means we are paying down Liberal debt and avoiding interest costs on that debt as well.

Now a defining feature of our first three budgets was responsible economic management. That will be a defining feature of the fourth as well. Even this year, when we will be printing a deficit for this year, it will be much, much smaller than what we inherited from our political opponents, and that shows the progress we have been able to make. Not managing the budget responsibly or providing cost of living help, but managing the budget responsibly and providing cost of living help and investing in building Australia’s future.

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Key events

Josh Butler

Our reporter Adeshola Ore was at Peter Dutton’s press conference.

She’s shared on a press release distributed at the Melbourne event. Dutton and his shadow ministers Michaelia Cash and James Paterson say in the release that they would set up a suite of responses to the latest Cfmeu allegations, including a new Federal Police taskforce to address issues in the construction industry.

The Coalition would also seek to “immediately introduce legislation to deregister” the Cfmeu’s construction division, and would reinstate the Australian Building and Construction Commission, along with increased penalties for breaches of the Fair Work Act.

“The Albanese government might have hoped this problem had gone away, but it hasn’t,” Dutton’s release said.

Cash called for the Cfmeu to be “immediately deregistered”.

The Coalition claims that its actions would help “alleviate the housing crisis”.

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