MEDIA STATEMENT 10 April 2026
The Albanese Government is once again relying on luck, not leadership, to prop up the budget after losing control of the budget, as Australians pay the price through higher costs, higher interest rates, and falling living standards.
New reports reveal Treasurer Jim Chalmers is set to receive an $8 billion windfall from soaring commodity prices, driven by global instability, not good economic management.
This is not a dividend from smart policy. It’s a temporary bonus from events overseas.
The real test is what the Government does next.
Instead of banking this windfall to repair the budget and rebuild fiscal buffers, Labor is preparing to spend it. That is exactly how deficits are entrenched debt is driven higher.
At a time when living standards have collapsed more than in any other country in the OECD and families are under pressure like never before, the Government should be exercising discipline, not looking for new ways to spend more.
Economists are clear: temporary windfalls should be saved. But under Labor, temporary revenue is being used to fund permanent spending, locking in pressure on the budget for years to come.
And when government spending stays high, inflation stays higher for longer.
That means higher interest rates, more pressure on mortgages, and more pain for Australian households.
Australians are already tightening their belts. Government should be doing the same. Instead, Labor continues to spend as if these windfalls will last forever.
The Coalition believes government must live within its means, so Australians have the means to live. That starts with responsible budgeting, saving windfalls, reducing debt, and restoring economic stability.
I will continue to stand up for sensible economic management and for the Australians who are working harder but going backwards under this Government.
[ENDS]
Media Contact: Brendan West – 0402 556 646 – Brendan.west@aph.gov.au
