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Australia's Budget Update: A$20B Savings Amid Rising Costs

12/15/2025

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Summary

Story summary

Australia's Treasurer Jim Chalmers announced a mid-year budget update with A$20 billion in savings.
The update will not be a mini budget and aims to show fiscal responsibility.
The update notes A$35 billion in additional costs from natural disasters.
The government has identified A$114 billion in savings since 2022.
The package includes A$23 billion hospital funding and laws targeting supermarket price gouging, with a deficit through decade.

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Story summary

Australia's Treasurer Jim Chalmers announced a mid-year budget update with A$20 billion in savings.
The update will not be a mini budget and aims to show fiscal responsibility.
The update notes A$35 billion in additional costs from natural disasters.
The government has identified A$114 billion in savings since 2022.
The package includes A$23 billion hospital funding and laws targeting supermarket price gouging, with a deficit through decade.