Finance Minister Katy Gallagher has defended the federal budget following criticism over alleged broken promises on negative gearing and capital gains tax changes. The budget, delivered on Tuesday, has faced backlash from the electorate over a $50bn increase in defence spending over the next decade, alongside significant cuts to NDIS spending growth.
Gallagher, alongside Treasurer Jim Chalmers, has led decision-making on the budget, which aims to address intergenerational fairness while maintaining responsibility and resilience in an uncertain global environment. The minister emphasised the need for tough choices to ensure long-term economic stability.
Critics argue that the government has reneged on pre-election commitments, particularly regarding housing affordability measures. The budget's focus on defence and NDIS reforms has sparked debate about priorities, with some questioning the balance between spending and savings.
Gallagher acknowledged the challenges but insisted the budget strikes the right balance between immediate needs and future sustainability. She highlighted the government's commitment to fiscal discipline amid global economic uncertainties.
