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Mid-Year Budget Rejects Health and Education Cuts

By Drooid · Oct 29, 2026 · How we work

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Prime Minister Anthony Albanese ruled out major cuts to health, education and essential services in the mid-year budget update.
Treasurer Jim Chalmers said inflation hit 4.3% and warned a further rate rise.
Chalmers blamed transport costs, up 8.7%, on a global fuel shock.
Senator Jacinta Nampijinpa Price warned a 30% trust tax could hit 350,000 businesses.
Treasury will cut the private health rebate for over-65s, saving $3 billion.

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Prime Minister Anthony Albanese ruled out major cuts to health, education and essential services in the mid-year budget update.
Treasurer Jim Chalmers said inflation hit 4.3% and warned a further rate rise.
Chalmers blamed transport costs, up 8.7%, on a global fuel shock.
Senator Jacinta Nampijinpa Price warned a 30% trust tax could hit 350,000 businesses.
Treasury will cut the private health rebate for over-65s, saving $3 billion.