Video shows a destroyed Australian armoured vehicle in Ukraine; Budget repair is a key priority for the new Australian government; Anthony Albanese says the stage three tax cuts are legislated. Follow the latest here.
Finance Minister Katy Gallagher says repairing the bottom line will be a key priority for the government ahead of its first budget in October.
She says spending in areas such as health, aged care, the NDIS, defence and national security is growing faster than GDP. “We need to make sure that all the spending that we are doing is delivering a particular outcome, an economic dividend. We can’t have this situation where we’ve got a trillion dollars of debt.”
“We know we can’t do everything we want to do in the budget. Any budget is going to be a tough set of decisions and about priorities and what’s possible and what is going to drive the best economic dividend and alleviate cost-of-living pressures for people.”“We said before the budget that it was unlikely we would continue that cut beyond the end of September, and I think that remains the case.”
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