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Treasurer Jim Chalmers speaking while standing at a lectern as he delivers the 2026 federal budget.

Federal budget — what we know and how Australia is reacting

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Politics

A simple breakdown: If the federal budget were just $100, where would it go?

The budget consists of hundreds of pages of facts and figures but visualising it as a $100 note helps in seeing how the government plans to spend your tax dollars.

The federal government is set to spend $833.2 billion in this year's budget, an increase of $47.5 billion, with pensions and social support programs contributing to over a third of the nation's expenses.

Who are the winners and losers of the budget?

Small business owners, first home buyers, migrants and travellers are just some of the Australians impacted by the 2026-27 federal budget.

Winners include taxpayers, small businesses and older Australians, while travellers, foreign investors, trust recipients, property investors and the economy will face more difficult conditions.

Welcome to our live coverage following last night's federal budget

Good morning and welcome to SBS News' federal budget live blog.

Today, we'll be following along with all the reactions and washup after Treasurer Jim Chalmers handed down the Albanese government's fifth budget last night at Parliament House.

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