Chalmers' Budget: Tough Savings, Reforms for Fairness & Productivity

0:00On this March 18th in Sydney, here's what is making headlines. Treasurer Jim Chalmers is delivering his 5th federal budget on May 12th amid a global energy crisis that's pushing up petrol prices and inflation risks. Economists expect the Reserve Bank to raise interest rates for a third time at its early May meeting, adding pressure on the government to curb. Spinning and fight rising costs that could hit 5% inflation and cut $16.5 billion from the economy by 2000. 27. Chalmers says the budget will include tough savings to tackle fast growing expenses building on past cuts while experts warn Australia's weak. Productivity is fueling inflation and hurting growth. In a speech today, he'll outline three big reform packages to rebuild fiscal strength, make taxes fairer, and boost productivity through better. Investment, quicker approvals, open trade, skills training, and artificial intelligence opportunities. No final calls yet on tax changes like scaling back the 50% capital gains discount, but

1:03Chalmers stresses principles for fairness across. Generations and simpler rules if the budget allows. The Daily News Now is powered by a sponsor, link in the description. Your bedtime ritual just got better. Built in Sound, built in Comfort, SOLI, solelypillow.com.