Come on, treasurer! This was your chance to hit it out of the park

May 12, 2026 — 7:40pm

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Treasurer Jim Chalmers’ fifth budget was a unique reform opportunity.

Labor has emerged politically dominant after last year’s thumping election win; its opponents are in disarray.

This was also the first budget of the parliamentary term – a moment when an established government could take hard decisions in the knowledge that the next election is two years away.

So, given the government’s political opportunity, was it ambitious enough?

The government should be applauded for tackling intergenerational equity.

The war against Iran is the dark cloud hanging over this entire budget

Home ownership rates have slumped in recent decades, especially among Australians aged under 45. The budget papers point out that, since 1999, housing prices have risen more than twice as fast as average full-time earnings.

Many young people........

© The Sydney Morning Herald