Treasurer Jim Chalmers says this year’s federal Budget will be “responsible” as it focuses on cost-of-living help for Australians. Mr Chalmers will hand down the Budget on Tuesday night. “It will be a responsible budget – but the centrepiece will be cost-of-living help at the same time as we invest in the future of our economy,” the Treasurer told Sky News host Sharri Markson.

Sky News host Caroline Di Russo says Labor had “big tough talk” about bringing spending under control but has shown “none” of it prior to the last election. “You listen to the prime minister, and you can tell … he does not even believe his own BS; I am not sure why he expects the rest of the country to believe it,” she said. “Big tough talk about … how they were going to bring spending under control, there has been none of that.”

Sky News host Caroline Di Russo says “every single boatload” of asylum seekers landing in Australia shows the government is “asleep at the wheel”. “It is worrying for the voters in the electorate up in the northern part of the country because you know they feel very exposed,” she said. “Every single boatload of people that arrives in Australia … just shows the government is asleep at the wheel.”

Sky News Business Reporter Ed Boyd says the ASX 200 had a “muted start” to the week, closing the day up 0.01 per cent. Oil companies and property REITs were the worst performers, and banks and tech stocks were weaker as well. Auto parts retailer and Autobarn owner Bapcor jumped 4.75 per cent but is down 25 per cent in the past month. Property developer Lend Lease plunged 2.87 per cent after telling the market it was going to fight the Australian Tax Office over a $112 million tax bill.

Sky News host Chris Kenny says numbers of asylum seekers are making it all the way to the mainland with the federal government in “denial of any dramas”. “Let’s make sense of this crazy world … we have got to talk about the border situation,” Mr Kenny said. “Three boats detected just in the last week now, six all up, numbers of asylum seekers making it all the way to the mainland, a denial of any dramas here from the federal government but this is very, very worrying.”

Sky News host Chris Kenny has called out the “odious” and “pathetic” pro-Palestine university protests around the world. “Despite the horrors of Hamas and the reality of this terrible conflict, the gormless university protests continue around the world,” Mr Kenny said. “It’s all odious, of course, and pathetic – these protesters know nothing of the issues. “I mean, I see even Greta Thunberg has joined the anti-Israel protests. What, Hamas are into renewable energy now?”

Donald Trump has reacted to President Joe Biden's Mother's Day campaign video that urged American voters to "stop Trump" ahead of the upcoming election. "Happy Mother's Day. At the Biden campaign, we are asking Americans to do the mums in their lives a favour ... stop Trump," the Biden campaign wrote in a press release. Trump's team spoke to Fox News Digital after the ad attack. "What a sad, miserable, cowardly existence crooked Joe Biden and his campaign must have to make such a disgusting ad on such a joyous day," Trump's team said. "Their lives are obviously filled with anger, hate, and resentment because they clearly suffer from Trump Derangement Syndrome. "President Trump continues to live rent-free in their pea-sized brains, even on Mother's Day."

Shadow Foreign Affairs Minister Simon Birmingham has slammed the government for supporting the vote for Palestinian statehood at the UN. Foreign Minister Penny Wong has said that support for Palestinian statehood does not signal support for Hamas. “They [Hamas], Iran and others will see this change in position of Australia, lead by the Albanese government and the UN vote as another step towards what they want to see the way in terms of the way the international community responds,” Mr Birmingham told Sky News Australia. “Because it’s an isolation of Israel.”

Shadow Foreign Affairs Minister Simon Birmingham has discussed how the government's latest stance on Palestine has put us “firmly at odds” with our closest international partners. This comes amid the Australian government supporting the vote at the UN for Palestinian statehood. “Neither of our AUKUS supported this resolution,” Mr Birmingham told Sky News Australia. “The majority of our Five Eyes partners did not support this resolution.”

Shadow Foreign Affairs Minister Simon Birmingham has discussed the “profound shift” from the Labor government’s stance on Palestine. This comes amid the Australian government supporting the vote at the UN for Palestinian statehood. “They’ve changed Australia’s foreign policy position,” Mr Birmingham told Sky News Australia. “They’ve shifted the position in relation to a negotiated two-state solution to, instead, one where the government is telegraphing that a two-state solution could and should come before settlement of difficult questions.

Shadow Foreign Affairs Minister Simon Birmingham has slammed the government’s stance on the Middle East tensions given the “October 7th” attacks. This comes amid the Australian government's support of Palestinian statehood at the UN. “Given what happened on October 7th, you are doing and taking steps and actions that Hamas and Iran and others welcome and see as progress,” Mr Birmingham told Sky News Australia.

Sky News UK National Correspondent Alex Rossi says aid agencies are warning Israel’s invasion of Rafah could lead to a “humanitarian catastrophe”. Mr Rossi said hundreds of thousands of Gazans are on the move with many of them having already been displaced from areas that have been destroyed in central and northern Gaza. “They’re on the move now to try and take refuge in safer areas,” he said. “Rafah, because so many people went there for shelter during the first months of the war, is home something to 1.4 million people. “A huge number of people are based there and it’s why the Americans, it's why the British are saying to the Israelis be very careful with what you do.”

Curtin University’s Dean of Global Futures Joe Siracusa says Duke University inviting Jerry Seinfeld to speak at a graduation ceremony was “bad optics”. Dozens of students at Duke University in North Carolina have walked out of a commencement ceremony in protest of the guest speaker - comedian Jerry Seinfeld. The comedian has been a vocal supporter of Israel since the October 7 attacks. “It was a bad idea, they should have just withdrawn,” Mr Siracusa said.

Western leaders have warned Israel that they will not support a full-scale invasion of Rafah in southern Gaza. The British Foreign Secretary David Cameron has condemned the move. US Secretary of State Antony Blinken says Israel has no credible plan for protecting civilians.

Australia voting for Palestine’s membership to the United Nations General Assembly is a “victory for Hamas”, says Liberal Senator Dave Sharma. “I don’t think you can spin this any other way,” Mr Sharma told Sky News Australia. “This resolution has advanced Palestinian statehood. “I don’t think there’s any other way you can portray this as a win for the forces of terrorism and bloodshed.”

Nationals Leader David Littleproud has criticised the Albanese government for its “reckless race” to an all-renewables approach for energy. Mr Littleproud said the government's approach was "not achievable”. “The investment signals that they sent to the gas market … is that they packed up and went elsewhere because they had draconian policies put on them," he told Sky News Australia. “If you’re going to increase supply, you’ve got to create the environment for someone to want to do that. “That’s why we’ve been behind the article and why you’re seeing higher energy prices.”

CommSec’s Tom Piotrowski says this week is set to experience a “heavy schedule” of market-moving events across the globe. “We have inflation and unemployment figures locally to look at,” he told Sky News Australia. “We’ve got important inflation numbers to look at in the United States as well.” Presented by CommSec.

The union for the Australian Federal Police is threatening strike action. It’s believed the move could see airports and the sitting of federal parliament shut down. Escalation in the union’s industrial action comes as a result of a continuing dispute with the Albanese government over pay and conditions.

Treasury forecasts in the upcoming budget are set to differ from RBA projections. The budget is expecting inflation to hit the two to three per cent target band by the end of this year. However, that forecast is a year faster than the latest Reserve Bank predictions of just last week.

A major shakeup is about to take place within Russia’s government, just two years into the war against Ukraine. Long-time ally of Russian President Vladimir Putin, Sergei Shoigu, is set to be replaced as defence minister. Mr Putin has proposed former Russian deputy prime minister Andrei Belousov to become the new defence minister.