Jim Chalmers’ budget victory lap outpaces reality as Australia’s debt continues to climb

The treasurer celebrated an outcome that could have been worse, but a structural challenge remains as workers are left with the burden of repairFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastIt’s official, Jim Chalmers has not managed the budgetary equivalent of a “three-peat”.After delivering two straight surpluses, Monday’s final budget outcome confirmed the country’s finances slumped to a deficit of $10bn in 2024-25. Continue reading...

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Ukraine cannot win against Russia, warns top British army chief

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