The federal government has delivered one of the most anticipated budgets in recent history, with the focus on shifting wealth from Boomers and opening more of the housing market to younger wage earners.

In order to get there, Prime Minister Anthony Albanese and Treasurer Jim Chalmers have enacted an overhaul of negative gearing, capital gains tax and trusts.

Today, we bring you an early episode of The Morning Edition from Parliament House in Canberra, with senior economics correspondent Shane Wright.

 
Peter Hartcher – ‘This budget will be attacked as a nightmare. That’s exactly what the PM wants.’
Paul Sakkal – ‘Albanese gambles on support from younger Australians as he dramatically shifts wealth.’

The federal government has delivered one of the most anticipated budgets in recent history, with the focus on shifting wealth from Boomers and opening more of the housing market to younger wage earners.
In order to get there, Prime Minister Anthony Albanese and Treasurer Jim Chalmers have enacted an overhaul of negative gearing, capital gains tax and trusts.
Today, we bring you an early episode of The Morning Edition from Parliament House in Canberra, with senior economics correspondent Shane Wright.
&nbsp;
<ul>
<li>Peter Hartcher &ndash; <a href="https://www.theage.com.au/politics/federal/this-budget-will-be-attacked-as-a-nightmare-that-s-exactly-what-the-pm-will-be-hoping-for-20260506-p5zuf3.html?utm_source=omny&amp;utm_medium=podcast_notes&amp;utm_campaign=the_morning_edition&amp;utm_content=&amp;utm_term=newsroom">&lsquo;This budget will be attacked as a nightmare. That&rsquo;s exactly what the PM wants.&rsquo;</a></li>
<li>Paul Sakkal &ndash; <a href="https://www.theage.com.au/politics/federal/albanese-gambles-on-support-from-younger-australians-as-he-dramatically-shifts-wealth-20260505-p5ztux.html?utm_source=omny&amp;utm_medium=podcast_notes&amp;utm_campaign=the_morning_edition&amp;utm_content=&amp;utm_term=newsroom">&lsquo;Albanese gambles on support from younger Australians as he dramatically shifts wealth.&rsquo;</a></li>
</ul>

The Morning Edition (formerly Please Explain) brings you the story behind the story with the best journalists in Australia. Join host Samantha Selinger-Morris from the newsrooms of The Sydney Morning Herald and The Age, weekdays from 5am.

The Morning Edition (formerly Please Explain) brings you the story behind the story with the best journalists in Australia. Join host Samantha Selinger-Morris from the newsrooms of The Sydney Morning Herald and The Age, weekdays from 5am.

The Morning Edition

New episodes from ongoing Metro podcast series. 

New episodes from ongoing Metro podcast series.&nbsp;

New episodes

The Morning Edition brings you the story behind the story with the best journalists in Australia. Join host Samantha Selinger-Morris from the newsrooms of The Sydney Morning Herald and The Age, weekdays from 5am.

The Morning Edition brings you the story behind the story with the best journalists in Australia. Join host Samantha Selinger-Morris from the newsrooms of The Sydney Morning Herald and The Age, weekdays from 5am.

Zoomers, boomers and a federal budget that could fix housing

https://api.omny.fm/orgs/88b564ea-a9a6-4751-910a-a5d800019396/clips/7f22816b-751f-4548-8db1-b44800c51323/transcript

We’re only hours away from the federal treasurer handing down the government’s much-anticipated budget. All eyes have been on Prime Minister Anthony Albanese’s anticipated - and controversial - changes to taxes that benefit the wealthier members of our society.

But there’s an entirely different factor that is likely to sway the government’s thinking.

Today, political columnist Sean Kelly on what One Nation’s historic win on Saturday could mean for the changes to our society that the government implements, or not.

We&rsquo;re only hours away from the federal treasurer handing down the government&rsquo;s much-anticipated budget. All eyes have been on Prime Minister Anthony Albanese&rsquo;s anticipated - and controversial - changes to taxes that benefit the wealthier members of our society. But there&rsquo;s an entirely different factor that is likely to sway the government&rsquo;s thinking. Today, political columnist Sean Kelly on what One Nation&rsquo;s historic win on Saturday could mean for the changes to our society that the government implements, or not.

Will One Nation push Labor to reshape our society?

https://api.omny.fm/orgs/88b564ea-a9a6-4751-910a-a5d800019396/clips/49f9b2f6-15bc-4b7f-9dea-b447007358ff/transcript

Travis Reyes, a 21-year-old US marine, remembers feeling smug as he sat with his feet dangling out the door of a military aircraft, soaring high above a gulf in the Northern Territory.

Yes, dozens of military personnel had died in these hybrid aeroplane/helicopters over the years. But the take-off from Darwin had been smooth.

Today, senior reporter Grant McArthur on the 23 marines who crashed in the bush, shocking the globe. And the world-first medical experiments by quick-thinking Australian doctors aimed at helping Travis Reyes survive against all odds.

Background reading
Grant McArthur's full story: 'A fiery air crash, a face-eating fungus and minutes from death in the Top End: How The Alfred’s doctors saved this US marine.'

Travis Reyes, a 21-year-old US marine, remembers feeling smug as he sat with his feet dangling out the door of a military aircraft, soaring high above a gulf in the Northern Territory. Yes, dozens of military personnel had died in these hybrid aeroplane/helicopters over the years. But the take-off from Darwin had been smooth. Today, senior reporter Grant McArthur on <a href="https://www.theage.com.au/national/victoria/a-fiery-air-crash-a-face-eating-fungus-and-minutes-from-death-in-the-top-end-how-the-alfred-s-doctors-saved-this-us-marine-20260427-p5zrdx.html?utm_source=omny&amp;utm_medium=podcast_notes&amp;utm_campaign=the_morning_edition&amp;utm_content=&amp;utm_term=newsroom">the 23 marines who crashed in the bush</a>, shocking the globe. And the world-first medical experiments by quick-thinking Australian doctors aimed at helping Travis Reyes survive against all odds.
Background reading
<ul>
<li>Grant McArthur's full story: <a href="https://www.theage.com.au/national/victoria/a-fiery-air-crash-a-face-eating-fungus-and-minutes-from-death-in-the-top-end-how-the-alfred-s-doctors-saved-this-us-marine-20260427-p5zrdx.html?utm_source=omny&amp;utm_medium=podcast_notes&amp;utm_campaign=the_morning_edition&amp;utm_content=&amp;utm_term=newsroom">'A fiery air crash, a face-eating fungus and minutes from death in the Top End: How The Alfred&rsquo;s doctors saved this US marine.'</a></li>
</ul>

A fiery air crash in the Top End – and a miracle by Aussie doctors who saved a US marine

https://api.omny.fm/orgs/88b564ea-a9a6-4751-910a-a5d800019396/clips/3e922fa0-eb5e-4534-94dd-b43d00611fae/transcript

The electorate of Farrer is holding a by-election this weekend and we’re expecting the contest will be a good one.

The NSW seat, which hugs the border with Victoria, belonged to former opposition leader Sussan Ley for 25 years. Now, it’s a microcosm of the pressures the Coalition is under from independent candidates and One Nation.

And as Inside Politics host Jacqueline Maley puts it, Labor has grabbed the popcorn and is sitting this one out.

Also this week, RBA boss Michele Bullock made some unusually pointed remarks about inflation and government spending when she raised the cash rate again. Plus, we’ve been reporting on tax relief that’s expected to be announced in next week’s budget.

Joining Maley today is chief political correspondent Paul Sakkal.



Background reading:
'‘F’ the lot of youse: Inside the deep political bitterness of the Farrer byelection.'
‘That’s assault’: One Nation volunteer grabs Liberal senator’s phone in clash outside polling booth

The electorate of Farrer is holding a by-election this weekend and we&rsquo;re expecting the contest will be a good one.
The NSW seat, which hugs the border with Victoria, belonged to former opposition leader Sussan Ley for 25 years. Now, it&rsquo;s a <a href="https://www.smh.com.au/politics/federal/f-the-lot-of-youse-inside-the-deep-political-bitterness-of-the-farrer-byelection-20260506-p5zugm.html?utm_source=omny&amp;utm_medium=podcast_notes&amp;utm_campaign=inside_politics&amp;utm_content=&amp;utm_term=newsroom">microcosm of the pressures the Coalition is under from independent candidates and One Nation.</a>
And as&nbsp;Inside Politics host Jacqueline Maley puts it, Labor has grabbed the popcorn and is sitting this one out.
Also this week, RBA boss Michele Bullock made some unusually pointed remarks about inflation and government spending when she raised the cash rate again. Plus, we&rsquo;ve been reporting on tax relief that&rsquo;s expected to be announced in next week&rsquo;s budget.
Joining Maley today is chief political correspondent Paul Sakkal. 
Background reading:
<ul>
<li><a href="https://www.smh.com.au/politics/federal/f-the-lot-of-youse-inside-the-deep-political-bitterness-of-the-farrer-byelection-20260506-p5zugm.html?utm_source=omny&amp;utm_medium=podcast_notes&amp;utm_campaign=inside_politics&amp;utm_content=&amp;utm_term=newsroom">'&lsquo;F&rsquo; the lot of youse: Inside the deep political bitterness of the Farrer byelection.'</a></li>
<li><a href="https://www.smh.com.au/politics/federal/fugitive-farley-ducks-tv-cameras-in-farrer-as-taylor-takes-firm-line-against-one-nation-20260506-p5zu63.html?utm_source=omny&amp;utm_medium=podcast_notes&amp;utm_campaign=inside_politics&amp;utm_content=&amp;utm_term=newsroom">&lsquo;That&rsquo;s assault&rsquo;: One Nation volunteer grabs&nbsp;Liberal senator&rsquo;s phone in clash outside polling booth</a></li>
</ul>

‘Popcorn out’ for Farrer by-election, plus the RBA’s pointed comments on government spending

https://api.omny.fm/orgs/88b564ea-a9a6-4751-910a-a5d800019396/clips/0cb964a5-ec55-44eb-ae98-b4430067f88a/transcript

Zoomers, boomers and a federal budget that could fix housing

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