Worsening deficits, higher spending: Jim Chalmers unveils mid-year budget update

Australia's budget deficits are set to widen due to growing spending and falling tax, despite a better-than-expected forecast for the current financial year.

The government's "responsible budget management" had helped inflation come down since the 2022 election while providing cost-of-living relief to Australians, Treasurer Jim Chalmers said. Source: AAP / Lukas Coch