Budget day 2024 live updates: Chalmers to forecast $9.3bn surplus; David McBride to be sentenced

Treasurer will be able to boast back-to-back surpluses when he speaks tonight; defence whistleblower to learn his fate

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Shadow treasurer Angus Taylor is not giving the Labor government any credit for its second surplus.

Taylor tells ABC radio AM that it was the work his government did that set this up for Labor:

The key to achieving ongoing buy balance is to make sure the your economy is growing faster than your spending. That’s what we did between 2013 and 2019.

The government is benefiting from from that being done during that time period.

Well, the reporting we’re seeing today is that it’s a sea of red. And we’ll see – we haven’t seen the final numbers.

But that’s not what we need if you want to tame inflation.

My job is to get the economics right and I’m confident that we have in this budget, and our job as a government is to put the people front and centre and that’s precisely what we’ve done as we’ve put this budget together.

I think if you make the right decisions for the right reasons – you concentrate on the economic cycle, not the political cycle – the politics and the pundits will take care of themselves.

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