Rate hikes, rising inflation and difficult decisions: key takeaways from Jim Chalmers’ budget update

Treasurer says his Myefo, which shows a small improvement in the budget bottom line, is ‘the most responsible’ on record

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Jim Chalmers has claimed “the most responsible mid-year update on record”, unveiling a multibillion-dollar improvement in the budget bottom line alongside extra money for mental health, CSIRO, and training for tradies.

Here are the three key takeaways from the mid-year economic and fiscal outlook.