Chalmers prepares for a $60 billion budget hit

Treasurer Jim Chalmers faces a $60 billion budget hit from hospital funding, welfare payments and defence spending ahead of next month's federal budget. Hospital agreements account for $25 billion, while disability support pensions, Jobseeker payments and cyclone disaster costs add further pressure. Higher inflation and geopolitical tensions are pushing government debt toward $1 trillion.

Summary by Glance · SMH