‘I don’t accept that’: Chalmers shuts down early election speculation

Treasurer Jim Chalmers insists he does not view Labor 's federal budget in"political terms" and did not engineer it with an election victory in mind, amid speculation the prime minister may trigger an early election this year.

In his post-budget address to the National Press Club on Wednesday, Mr Chalmers was asked whether he would measure the success of the 2024-25 Federal Budget by an election victory given the budget papers had “election written all over them”. “I don’t see this budget in political terms and… I’m expecting to do another one, I’m happy to do another one. Katy and I are ready and raring to go for another one. We’ve already started thinking about next year’s budget the day after this one, but that’s in the hands of the Prime Minister.

The new stage 3 tax cuts – announced and legislated earlier this year - were the pivotal assistance measure, helping all taxpayers but benefitting 85 per cent more compared to the original Morrison government proposal at an average saving of $1,888 beginning July 1. In the lead up to the budget, tax cuts had for months been touted as the tangible cash handout that would best help tackle high living costs and with the new electricity rebate – automatically deducted from bills – Treasury claims it will directly cut inflation by 0.5 per cent.

“All of us have a different reason for being here . My reason is because I like to think about how the world is changing and how we make Australia the big winner out of that change. That’s what the Future Made in Australia package is all about but that’s what really, in one way or another, all our policies are about.

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