Treasurer Jim Chalmers has handed down his second budget with a big focus on relief to help ease cost-of living pressures. It includes reductions to healthcare, housing and energy costs as well as increases to welfare payments for the single and unemployed. The Treasurer describes his budget as “a plan for security, for prosperity, for growth”.

So what does it mean for you? Click here for the full summary.

Watch the summary by Jenneke Mills (Head of Technical Services and Superannuation and Financial Planning Specialist at MLC) here: