Listen to the latest updates from ABC News

Listen to the latest updates from ABC News

Prime Minister Anthony Albanese says he wants to see the government's newly-unveiled property tax reforms legislated as soon as possible.

The major changes to negative gearing and the capital gains tax discount were announced in the budget last night, as part of measures the government says will help get more young people into their first home.

The Opposition says it will not support the reforms while the Greens have indicated they support the changes in-principle.

Net migration will grow by 990,000 between now and July 2029.

The federal budget has revealed a total of 55,000 more migrants are expected over this financial year and the next than previously estimated.

That additional population growth will need about 22,000 more homes.

One Nation and the Coalition are demanding measures to slash migration so it does not outpace housing construction.

British Prime Minister Keir Starmer has finished a meeting with his potential leadership rival, and Health Secretary Wes Streeting, following calls from more than 80 of his MPs to step down.

Ministers who support the Prime Minister have been stressing that the government is getting on with business, including today's King's Speech outlining its legislative programme.

But dozens of Labour MPs have urged Sir Keir to quit immediately, or draw up a timetable to leave.

Press the 'Follow' or '+' button on this show page to add us to your playlist, so you never miss an episode.

For more news, politics and current affairs podcasts go to ABC listen.

Federal Treasurer Jim Chalmers has denied the major property tax reforms announced in last night's budget will make it harder for Australians to get ahead.

The government has limited negative gearing tax breaks to newly built homes only but will allow those already claiming the concession to keep doing so.

The opposition says that change, alongside a reduction to the capital gains tax discount, will stop aspirational younger people from building wealth.

But Mr Chalmers says the reforms will create a more level playing field.

Small businesses say changes to the way trusts are taxed in the federal budget are likely to have a broad impact.

Under the changes, trustees will pay a minimum 30 per cent tax on income from a trust.

The government says this will improve the fairness of the tax system and help fund new tax cuts for workers.

The Council of Small Business Organisations Australia warns it could hurt the bottom line of businesses.

Defence Minister Richard Marles says Australia stands ready to support a "strictly defensive" UK and France-led mission to support freedom of navigation in the Strait of Hormuz.

Last night Mr Marles joined counterparts from more than 40 other countries to discuss how diplomatic, economic and military capabilities can be used to ensure the safe passage of ships in the Strait.

It remains effectively closed to commercial shipping, as the Middle East war continues.

Press the 'Follow' or '+' button on this show page to add us to your playlist, so you never miss an episode.

For more news, politics and current affairs podcasts go to ABC listen.

One of the main goals of the federal government in this year's budget is to address intergenerational inequality.

The Federal Treasurer says the economic conditions impacting the federal budget changed "quite late in the piece"

In an address to the National Press Club, Jim Chalmers says the government had five main objectives for this year's federal budget: getting through the global oil shock; cost-of-living relief; productivity; reforming the tax system for workers and first home buyers; and making the budget stronger.

He says this resulted in the government delivering a $250 Working Australians Tax Offset, a productivity package for businesses and budget savings.

Economists argue high government spending will continue to add to a surge in inflation in the wake of the Middle East war.

The federal budget will see an extra 18 billion dollars injected into the economy.

Inflation hit four-point-six per cent over the 12 months to March, which is above the Reserve Bank's two to three per cent target range.

US President Donald Trump has lashed out at media coverage of America's war against Iran, saying it's "virtual treason" to say Iranians are doing well militarily.

His social media post came after the New York Times reported Iran retained two-thirds of its missile stockpile.

The paper says the Trump administration's portrayal of a shattered Iranian military is going against what US intelligence agencies are saying behind closed doors.

Press the 'Follow' or '+' button on this show page to add us to your playlist, so you never miss an episode.

For more news, politics and current affairs podcasts go to ABC listen.

The Albanese Government's big reform budget is dominating political discussion today and it has set up a fight between Labor and the Coalition about whether new tax changes will make life better off for young people. 

The government says it will send Australia's world-leading surveillance aircraft on request to support freedom of navigation through the Strait of Hormuz.

World leaders are going to be closely watching US President Donald Trump's historic visit to key Iran ally China. 

Press the 'Follow' or '+' button on this show page to add us to your playlist, so you never miss an episode.

For more news, politics and current affairs podcasts go to ABC listen.

The Coalition has declared it will fight moves to restrict negative gearing and amend the capital gains tax discount, setting up what will be a big political debate ahead of the next election.

Independent Senator David Pocock has described the federal government's decision to hand down its response to a gambling advertising report just before the federal budget as 'disappointing' and 'cowardly'.

The coronial inquest into the death of Clare Nowland is set to start today and is expected to shed light on the training of aged care staff and first responders when dealing with people experiencing dementia.

Press the 'Follow' or '+' button on this show page to add us to your playlist, so you never miss an episode.

For more news, politics and current affairs podcasts go to ABC listen.

Treasurer Jim Chalmers says helping Australians with the cost-of-living crisis as one of the government's key priorities.

The Prime Minister says he expects blowback from decisions made in the federal budget, as he cops questions about why the government's breaking promises it took to the last election to crack down on property tax breaks. 

The Northern Territory Government has announced the two people who will head up a review into the territory's child protection system, which was sparked by the recent death of five-year-old Alice Springs girl Kumanjayi Little Baby.

US President Donald Trump is on his way to Beijing for an historic meeting with Chinese President Xi Jinping who happens to be a key ally of Iran.

Press the 'Follow' or '+' button on this show page to add us to your playlist, so you never miss an episode.

For more news, politics and current affairs podcasts go to ABC listen.