Nadine Blaney

Welcome to Fear and Greed, business news you can use.

Today, Federal Treasurer Jim Chalmers overhauls the capital gains tax discount and dumps negative gearing in a budget that favors the young over the old.

The budget includes lower deficits for the rest of the decade, but warns of higher inflation and slower economic growth this year and next year.

Also today, BHP pushes beyond $300 billion in valuation for the first time.

ASIC investigates market darling DroneShield.

And the U.S.

President Donald Trump heads to China.

It is Wednesday, the 13th of May, 2026.

I'm Nadine Blaney from Ausbiz.

And good morning to you, Sean Almer.

Good morning, Nadine.

Of course I did.

There is not a budget I have met that I didn't like.

I guess you were up all night burning the midnight oil, getting us all across it.

The main story this morning, Federal Treasurer Jim Chalmers last night handed down what he called...

the most important and ambitious budget in decades, including changes in taxation, the NDIS and private health insurance, housing and health and aged care.

So, Sean, it's being called a reformist labor budget and started the job of shifting preferential tax treatment away from older and richer Australians toward younger Australians.

Well, Sean, many of the tax changes are directly aimed at making housing more affordable.

Yeah, the money from these initiatives will be used to fund a working Australian's tax offset of up to $250.

So this will be paid annually to more than 13 million workers, people, of course.