Nationals face leadership stoush as Dutton prepares to head Liberals

The Coalition parties will today elect new leaders to guide them through their first term in opposition in almost a decade. 9News

The new government says it's getting on with the job of inspecting the nation's balance sheets, having inherited $1 trillion of debt.

Finance Minister Katy Gallagher is foreshadowing spending cuts but says Labor's budget will still have a "cost of living" lens applied, as prices surge."We can't pretend they're not coming, and we can't pretend the budget is in good shape and able to absorb this."

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