Savings over spending: Chalmers says upcoming budget his 'most responsible yet

Treasurer Jim Chalmers and Minister for Finance Katy Gallagher speak to the media during a press conference at Parliament House in Canberra, Monday, May 4, 2026. Source: AAP / MICK TSIKAS/AAPIMAGE

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Federal Treasurer Jim Chalmers has promised to deliver his most responsible budget yet with savings expected across every portfolio. Defending possible changes to negative gearing and capital gains taxes, the government says this budget is about adapting to the uncertain circumstances facing Australia's economy.

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