Carrington Clarke

But interestingly, in the short term at least, it's helped the government as some big energy companies make a lot of money from those elevated prices and add to the tax take.

But the government warns if the crisis continues, then it could put us into a world of pain.

And ABC Business Daily.

And I'm Carrington Clarke, the host of ABC Business Daily.

We're both given the all clear.

Absolutely.

There are a lot of numbers.

I've had the benefit of extra hours of pouring into these massive documents.

This is actually my first budget lock-up, Patricia Calabalos.

I don't know if I should be admitting to that as a senior business correspondent.

Well, let's start.

How does this stack up compared to the others you've seen?

That's true to an extent, but these tax reforms, putting that in inverted commas, does lead to a considerable increase in the amount of money that the government is taking in terms of tax receipts.

Exactly.

So something like $77 billion over 10 years.

That's a huge change.

And yeah, coming into this budget, I was apprehensive about whether or not it would live up to the preceding hype about whether or not this was going to be a major reform.

I think seeing it all together, especially given the central role housing investment, housing generally, but housing investment plays in kind of the Australian psyche.

These are substantial changes to the way that

Housing is taxed as an investment option.