SMH · Shane Wright · Monday 20 April 2026
The Treasurer says next month's budget depends on how the Iran war plays out — a warning that doubles as pre-emptive cover for numbers that haven't landed yet.
Chalmers is warning the budget depends on a war resolving itself, which is Treasurer-speak for 'I've got no idea and neither does anyone else.' Every federal budget since Curtin has been hostage to something — the pound, the dollar, the oil shock, China. The job description is running the country through conditions you don't control. Hedging the forecasts before the ink's dry isn't prudence, it's the paperwork of a man building his alibi early.