Labor Budget Reforms Tipped to Generate $77 Billion Over Next Decade

Treasurer Jim Chalmers speaks during Question Time at Parliament House in Canberra, Australia, on May 13, 2026. Hilary Wardhaugh/Getty Images

Tax changes in the budget give the government scope to direct more relief to workers in future, raising the prospect of a 2028 pre-election sweetener.

While higher taxes on assets will be returned to workers via tax cuts in the short term, Treasury predicts the budget changes will deliver the government a $77 billion war chest over the 10 years to 2036/37.