Budget 2026 live updates: Coalition pledges to repeal Chalmers’ tax reforms amid mixed reception for ‘difficult’ budget

Shadow treasurer Tim Wilson says his objective is to ‘defeat’ changes to capital gains and negative gearing. Follow today’s news live See all our Australia budget 2026 coverage Get our breaking news email , free app or daily news podcast Australia to send military plane to Strait of Hormuz reopening mission Australia will join an international mission to reopen the Strait of Hormuz, with plans to contribute a high-tech surveillance plane to the effort. Our intention is to contribute Australia’s world-leading E-7A Wedgetail aircraft to this defensive effort. While this platform [the Wedgetail] is already doing work in the region, providing this capability would make a valuable contribution to the multinational mission and efforts to secure freedom of navigation in the Strait of Hormuz.

We want to see this conflict end, the Strait of Hormuz open and freedom of navigation resume. The longer this conflict goes on the more significant the impact on Australia will be. Our Government is doing all we can to shield Australians from the impacts. We have put forward these changes, we’re being upfront about that. We are saying we’ve changed our position and why we have changed our position, and we have changed our position because we don’t want a generation of people who watch your program to be sitting there and thinking they’re going to be renting for the rest of their lives. Continue reading...