From michaelwest.com.au: Treasurer Jim Chalmers announced that Australia’s upcoming federal budget will have limited spending promises due to a modest revenue upgrade, projecting a deficit of $26.9 billion for 2024/25.

Major initiatives have already been unveiled, including an $8.5 billion boost to Medicare and a commitment to additional recovery funding following the impact of ex-tropical cyclone Alfred.

Chalmers indicated a cautious approach to managing the economy amid challenges like US tariffs and an incipient global trade war.