This bold budget has grasped the nettle of tax and housing – but it may not be enough to move the needle for younger Australians (opens in new tab)

Jim Chalmers, determined not to miss his reform moment more than four years into government, has backed the largest change to Australia’s sclerotic tax system since the Howard era Federal budget 2026 LIVE updates: Australia government budget announcement and speech – latest newsExplore all of our 2026 Australia federal budget coverageGet our breaking news email, free app or daily news podcastBy his own assessment, Jim Chalmers’ fifth federal budget is the most important and most ambitious fro...