Federal budget 2025: Labor bets big with $17.1bn in tax cuts to win over middle Australia

Treasurer Jim Chalmers delivers a pre-election budget focused on cost of living as Trump tariffs and global economic uncertainty loom large

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Labor has bet a blockbuster $17.1bn in tax cuts to deliver it a second term at the upcoming election, as Jim Chalmers delivered his fourth budget jammed with cost-of-living support for middle Australia.

In the shadow of the US president Donald Trump’s determination to overturn a global trading order that has helped deliver Australians an era of prosperity, the treasurer claimed his budget was aimed at making the economy more resilient in a more uncertain world.

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