Radio National Breakfast

Former Labor Opposition leader Bill Shorten says he's vindicated by negative gearing changes introduced by the Treasurer in last night's budget.

Mr Shorten attempted to bring in similar tax reforms in the 2019 election campaign that he ultimately lost to Scott Morrison.

Mr Shorten shares his views first with Radio National Breakfast. 

Then, we get the latest analysis on the budget from Tom Crowley, and hear from the Treasurer and Shadow Treasurer.

Recap the morning's news, politics and global affairs with the Breakfast Wrap.

What are some of the budget spends or savings you may have missed in the headlines? 

Our political correspondent Tom Crowley and business and economics correspondent Carrington Clarke take us through what they spotted during the lock-up.

Ahead of the budget, a coalition of leading advocacy groups was calling for changes to negative gearing and the capital gains tax.

This group got its wish - but are concerned the budget is not doing enough to help Australia's poorest people. 

• Guest: Kristin O'Connell, co-founder of the Antipoverty Centre, and disability pension support recipient

As the world slowly warms and sea levels rise, there are questions about what this means for mangroves and wetlands.

Neil Saintilan is a world leading earth scientist whose research has changed our understanding of how coastal wetlands work and respond to rising sea-levels.

He's recently been recognised for his work in this space, winning the Australian Academy of Science's Mawson Medal.

• Guest: Professor Neil Saintilan, Professor of Environmental Sciences Macquarie University

Treasurer Jim Chalmers says this is a budget that will generate real productivity gains for business - while delivering a real lift in living standards for workers through tax cuts and winding back investment perks. 

• Guests: Bran Black, CEO of the Business Council of Australia and Michele O'Neil, President of the Australian Council of Trade Unions
• Producer: Jason Whittaker

The Federal Treasurer Jim Chalmers handed down his fifth budget last night, raising taxes on investment properties and some trust funds. 

But, Shadow Treasurer Tim Wilson says the government's changes to negative gearing and capital gains tax won't help younger Australians get into the housing market.

• GUEST: Tim Wilson, Shadow Treasurer 
• PRODUCER: Isadora Bogle

Some 80 odd MPs are calling for Keir Starmer to stand aside, but there are now even more wanting to move on from the leadership speculation.

Still, the debate is on how, and when a tilt could occur and who would replace him.

And attention is turning to a key meeting he'll hold with a potential challenger Wednesday morning local time. 

Small business was looking to last night's federal budget for more help to alleviate pressures on the sector - which have mounted since the conflict in the middle east.  

Supply chains have been significantly disrupted or become more costly since February, adding to low confidence across the sector about long-term sustainability.

The Council of Small Business Organisations Australia says the Treasurer has delivered a mixed bag for the sector.

While the Instant Asset Write-Off becoming permanent from July 1 has been welcomed, COSBOA wants extensive consultation before changes to Capital Gains Tax and the taxation of trusts are introduced to Parliament. 

• Guest: Skye Cappuccio, COSBOA's Chief Executive 

Treasurer Jim Chalmers has put productivity at the heart of his federal budget address, with initiatives to speed up housing approvals and slash red tape for business.

Unions and welfare groups have welcomed the extra cost of living relief, including an ongoing $250 tax offset for more than 13 million Australians from 2028.

• Guests: Luci Ellis, Chief Economist at Westpac
• Producer: Jason Whittaker

The Federal Treasurer Jim Chalmers has delivered his fifth budget, calling it quote "the most important and ambitious budget in decades" choosing "the hard road of reform" amid the global oil crisis sparked by the Iran war.

He unveiled sweeping changes to negative gearing and the capital gains tax discount, breaking a promise made at last year's federal election.

• GUEST: Jim Chalmers, Treasurer
• PRODUCER: Isadora Bogle