Newsroom edition: how Labor is trying to frame the 2024 budget
May 9, 2024
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Federal treasurer Jim Chalmers discusses the challenges of the upcoming budget, focusing on cost-of-living crisis and economic hardships. Editor-in-chief Lenore Taylor and deputy editor Patrick Keneally analyze the government's strategies to sell their economic management amidst social difficulties.
The 2024 budget focuses on cost-of-living relief and 'made in Australia' initiatives to tackle economic challenges.
Both Labor and coalition governments face challenges in linking budget surplus to societal improvements for effective planning.
Deep dives
Government's Budget Strategy and Lock-Up Process
The upcoming Federal Budget presents unique challenges for Treasurer Jim Chalmers, who aims to balance economic and social considerations. The budget lock-up tradition restricts media access before the budget announcement to manage the information flow. The government strategically releases information before the budget speech to control the narrative and generate positive publicity. This method aims to shape public perception and steer media focus towards specific budget aspects.
Focus Areas and Balancing Priorities in the Budget
The budget emphasizes cost of living relief through tax cut adjustments and changes in indexation rates for student debts. Defense spending and a 'made in Australia' package are notable components of the budget. The government's emphasis on a non-inflationary budget reflects their cautious approach to spending and managing economic pressures. The budget choices highlight the government's strategic decisions to prioritize certain areas while managing public expectations.
Scrutinizing Surplus Ideals and Budget Narratives
There is substantial scrutiny around the surplus focus as a measure of economic competence for treasurers. Evaluating past budget performances reveals minimal differences between labor and coalition governments in key financial indicators. Challenges arise in linking balanced budgets to societal improvements, prompting calls for nuanced analyses and reevaluation of traditional economic ideologies for effective budget planning.
Federal treasurer Jim Chalmers will next week present his government’s third and possibly final budget of this term. He has said it won’t be one of ‘scorched-earth austerity’ and will take into account hardships caused by the cost-of-living crisis. But the 2024 Australian federal budget is not without its economic and social challenges and the government needs to convince voters that the economy is in safe hands. Bridie Jabour speaks with editor-in-chief Lenore Taylor and deputy editor Patrick Keneally about the Albanese government’s budget narrative You can support the Guardian at theguardian.com/fullstorysupport
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