A preview of May’s federal budget

Prime Minister Anthony Albanese has provided a glimpse into the upcoming federal budget, scheduled for release next month. He emphasized that addressing the cost of living will continue to be a primary focus.

Albanese described this forthcoming budget as the most critical one since his administration took office in 2022, underscoring the importance of alleviating financial pressures on citizens.

“The priority remains to assist people in managing the cost of living, and that is the balance we intend to achieve with next month’s budget,” the Prime Minister stated.

He acknowledged the ambitious nature of this budget, reiterating its significance for his government.

Albanese also mentioned that a contingency plan is ready to be activated should the ongoing war further impact the nation’s economy.

‘We will get through this’

There is a contingency plan in place if the war “deteriorates” our economy further, Albanese said.

He assured Australians that the nation will “get through this” but could not offer any timeline for when the war may end.

“We don’t know how long this will go for, we don’t know when it will end and therefore the consequences of this are connected with that,” Albanese said.

“We’ll come through this. And my job is to provide appropriate reassurance which is what we’re doing,” he said.

Albanese also tempered fears over any COVID-style mandates or lockdowns.

“This will not be like COVID,” he added.

“Partly because the nature of this global crisis is very different.

“But also because we have learned from that time – and we are deliberately taking a different approach.”

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