Chalmers to be first Labor Treasurer to deliver a budget surplus since Keating era

The federal economy jumped back into surplus in February leaving it within striking distance for Jim Chalmers to be the first Labor Treasurer since Paul Keating to deliver a budget surplus. The underlying cash balance for February was positive $15.5 billion and for the year to date is in deficit to the tune of $12.9 billion more than $20 billion better than the October budget forecast. Jim Chalmers today outlined eight priorities for the budget, including cost of living relief, national security, women's economic participation, addressing entrenched disadvantage as well as restraint.