Inflation outlook and severe scenario

The Treasurer Jim Chalmers has delivered his 2026 budget, unveiling a new tax cut and some of the most significant tax changes in decades.  

Delivered as war impacts the economy, it’s being sold as a budget that addresses the growing inequality between generations, with the treasurer declaring Labor is on the hard road of reform. 

But will changes to taxes on property investors and family trusts really level the playing field?

The ABC’s chief business correspondent Ian Verrender joins Sam Hawley in the budget lock-up in Sydney. 

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Ian Verrender, ABC Chief Business Correspondent