Sky News host Andrew Bolt says in the “next four years alone” the government will add $112 billion as gross debt will be “well over” one trillion dollars. “The government has got record taxes flooding in, never had more,” Mr Bolt said. “Yet every year for the next decade this government says it is going to spend more than it earns, deficit after deficit.”

The Australian Washington Correspondent Adam Creighton says Donald Trump’s hush money trial is “not hurting” him so far. Mr Creighton told Sky News host Sharri Markson that there has been “saturation coverage” on it for the past three weeks, without many negative results for Trump. “If you look at the political betting markets and the national polls over the past three weeks, Donald Trump has actually inched up slightly.”

Opposition Leader Peter Dutton says Labor’s budget surpluses were “bequeathed” by the previous Coalition government’s good economic management. Mr Dutton criticised Labor for “driving up” inflation since they were elected. “They get surpluses in the first two years, and then when Labor really starts to take over after having made the decisions, we go into deficits for as far as you can see,” the Opposition Leader told Sky News host Peta Credlin.

The Albanese government has begun “cutting red tape for foreign investors” in an “anti-business budget” handed down by Treasurer Jim Chalmers, explains Small Business Women Australia’s Amanda Rose. Ms Rose joined Sky News Australia host Chris Kenny to discuss the fallout for small businesses following Labor’s “reckless” 2024 budget. “If you look at the Future Made in Australia, they are actually cutting red tape for foreign investors and big business to get a piece of it,” she said. “Where are the small businesses in that? “They have got mental health support because they know they are struggling but we won’t cut any red tape for you, we won’t look at taxes, we won’t look at how we can encourage people to focus on small businesses.”

Small Business Women Australia’s Amanda Rose has lashed out at the Labor government after their 2024 federal budget “completely ignored” adding components to support small businesses. Ms Rose joined Sky News Australia host Chris Kenny to discuss what Treasurer Jim Chalmers had left for small businesses in the latest federal budget. “They have completely ignored every single thing a small business has actually asked for,” she said. “And they talk about higher wages – if there are no jobs, then how can you give an employee a higher wage? “Small businesses are shutting down on a daily basis. “People need to realise that big businesses and Labor are best friends because their employees can be unionised, in small business they can’t.”

Opposition Leader Peter Dutton says the Labor government are trying to “buy themselves” an interest rate cut. Mr Dutton took aim at Labor’s “inflationary” federal budget which was handed down on Tuesday evening. “I think they’re trying to buy themselves a rate cut this year before things start to really deteriorate under this government next year,” the Opposition Leader told Sky News host Peta Credlin.

One Nation Leader Pauline Hanson has called the government’s bluff over their $6.2 billion housing splash in this year’s federal budget. “We don’t have the tradies, or the supplies, or the equipment to build these houses, it’s a joke,” Ms Hanson told Sky News Australia host Chris Kenny. “They are pulling the wool over people’s eyes who fall for this smoke and mirrors stuff that they are telling people they are going to do. “It can’t happen Chris.”

Treasurer Jim Chalmers responds to claims the Labor government is spending $13.5 billion on tax credits for billionaires while everyday Australians are battling the cost of living crisis. “Spare us the faux outrage, spare us the faux class warfare,” Mr Chalmers said during Question Time on Wednesday. “First of all, I remind those again I remind those opposite that they called for an election over the changes to the tax cut, which provided a tax cut to every taxpayer.” “Secondly, I haven’t been here that long, Mr Speaker; I’ve been here long enough to remember when they used to believe in tax breaks to incentivize business investment, but they seem to have turned their back on that.”

Sky News contributor Kristin Tate discusses what is motivating American voters this election as it becomes more “difficult” for the average earner to live a comfortable lifestyle. Ms Tate said voters aren’t making decisions based on cultural issues or former US president Donald Trump’s trials. “The average American is just looking at their budget and they notice that everything is still more expensive,” she told Sky News host Chris Kenny.

Victoria is describing the federal budget as a constructive step in the right direction, despite no new money for the state government’s signature infrastructure project. In the Treasurer’s new blueprint, there was no new money for the Suburban Rail Loop. The Victorian budget was ultimately banking on a $11 billion contribution from the Commonwealth to deliver the project.

Minerals Council of Australia Chief Executive Tania Constable says the government had a “change of heart” around gas supply and that is a “good thing”. The Labor government announced they will employ the use of gas through to and beyond 2050. “There should have always been an emphasis placed on more supply of gas,” Ms Constable told Sky News Australia.

Treasurer Jim Chalmers says the 2024-2025 federal budget is about delivering a "new generation of prosperity". “Our plan for a future made in Australia .. is about making Australia a renewable energy superpower, its about value adding to our resources and strengthening our economy security. It's about improving our innovation and our science and our digital capabilities,” Mr Chalmers said. “This is how we modernise our economy and maximise the opportunities of the future. “So we can deliver a new generation of prosperity."

Wages are up 4.1 per cent at an annual rate which is slightly below what the market expected. Economists were predicting wages to grow at the same rate as last year which was 4.2 per cent. Over the course of the first three months of the year, wages lifted over that period by just 0.8 per cent, the market was expecting 0.9 per cent.

Sky News Political Editor Andrew Clennell says it’s looking increasingly more likely that there’ll be an early election. “I don’t think they’re absolutely wedded to that at the moment, but I just look at the political situation, the situation of this budget, and it’s hard to escape that conclusion,” Mr Clennell said. “The PM’s changed his language. It seems to me he’s a lot more evasive. “It’s certainly the expectation across the Opposition that that’s the case.”

US President Joe Biden was escorted off stage by a military officer following his “incoherent remarks” at the White House. The 81-year-old was savagely roasted online by X users, with many mocking the oldest-ever sitting president. “Cognitively Impaired Joe Biden is led off stage and back into the White House after very brief, incoherent remarks,” wrote RNC Research. During Biden’s speech at the White House, the President revealed he would impose tariffs on China for electric vehicles and batteries. President Biden asserted the tariffs will extend to Chinese-made goods while speaking at the Rose Garden on Tuesday.

Property Council of Australia CEO Mike Zorbas says the federal government needs to “apply a lot more cash” to state and local governments to unlock the housing supply. The cost of living crisis was one of the key issues in last night’s budget, with a major focus on increasing housing with billions of dollars allocated to the sector. “There could be more money, I say gratefully, you know the government is certainly doing the right thing, and previous governments have not done enough in this space,” Mr Zorbas told Sky News Australia. “We need to apply a lot more cash to local government, to state government, to help them unlock the housing supply. “We need to produce 1.2 million new homes, this is not a magic number, this is a need across all sectors, whether it’s social housing or market housing.”

The Albanese government must think “it’s too unpopular” to do what needs to be done with the NDIS, says Sky News Political Editor Andrew Clennell. “Which could be means testing or it could be eligibility in terms of conditions,” Mr Clennell said. “I think Peter Dutton thinks the same.”

There are suggestions Labor could process the latest asylum seeker arrivals at Christmas Island. The immigration detention centre had been mothballed until this week when interpreters were seen at the facility. It comes after 33 asylum seekers were found in the water off Australia at the weekend. The ABF has increased aerial surveillance of the country’s coastline over fears the boat travelled in a convoy.

Sky News Senior Reporter Kenny Heatley says elections are “won and lost” in Western Sydney. Mr Heatley said social and affordable housing is a “big issue” across that region. “There was a November 2023 report from the centre of Western Sydney that claimed social and affordable housing in the region only meets 44 per cent of demand,” he said. “It’s also a region that, probably more than any other region in Australia, feels the effects of high immigration.” Mr Heatley’s comments come after Treasurer Jim Chalmers handed down the federal budget on Tuesday night. “People are still processing how it affects them,” he said.

Prime Minister Anthony Albanese has been questioned about whether there’ll be an early election this year.  “We’re not focused on politics ... the election is due in 2025,” Mr Albanese told Sky News Australia.  “What we’re focused on is getting the settings right and turning things around, making a difference to people.”  This comes after Sky News Political Editor Andrew Clennell revealed on Tuesday night that the Opposition believes there is an early election ahead after Treasurer Jim Chalmers delivered the 2024-25 federal budget.