How 2025 federal budget will affect you

Federal Treasurer Jim Chalmers has handed down his fourth budget, just weeks before an election is due to be held.

As expected, many major announcements have been held back to be revealed in the lead-up to polling day.

As part of a raft of new measures, Mr Chalmers on Tuesday night announced new tax cuts for every Australian, a 20 per cent HECS debt cut, energy relief and a freeze on alcohol excise for two years.

Press PLAY to hear Money News’ snap reaction after Jim Chalmers’ budget speech

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