Jim Chalmers Plugs Tuesday’s Budget As Solid, Sensible And Suitable

Federal Treasurer Jim Chalmers is preparing to hand down his first Federal Budget which has been dubbed as "responsible" in the current economic climate.

An extra $33 billion dollars has already been announced for the pension and other welfare payments, while families earning up to $350,000 will soon be eligible for government paid parental leave under a rebooted scheme.

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"It'll be solid. It'll be sensible. It'll be suited to the times," Dr Chalmers told Channel 7.

The Treasurer said the Budget will balance inflationary pressures with rising living costs and stagnant wage growth.

It’s a “responsible” budget that will be “family friendly” and “steady and stable”.

Further costs include hospital spending to increase over the next four years by 6.1 per cent, aged care by 5.5 per cent and defence spending will grow by 4.4 per cent.

In addition, the National Disability Insurance Scheme is set to increase by 12.1 per cent annually over the same period.

Other predictions we can expect include:

• Stage 3 tax cuts
• More affordable medicines
• Covid-19 Improved response measures
• Cheaper childcare commitment
• Fuel excise to ease cost-of living pressures
• Free TAFE places
• University places for under-represented students
• Accelerated Visas for working migrants
• Critical mineral and research projects
• Construction of road and rail projects
• Paid parental leave
• Restoring the Great Barrier Reef
• Strengthening Pacific ties

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