Last weeks courageous budget could portend an era of substantial achievement, asAlan Austinreports.

It wasnt just the blunt language, but the timing. Thatexhortationfrom respected tax authority and national treasure DrKen Henrycame exactly three weeks before TreasurerJim Chalmershad to deliver the most keenly anticipated federalbudgetin memory.

Prime MinisterAnthony Albaneses cabinet was being urged to implement multiple monumental reforms, including some that would break election promises.

But, hey, if not now, when? Will any PM ever again have a 94-seat majority in the House, favourableapproval54% to 46% and an Opposition in totaldisarray?

So they just did it. Albo and Dr Jim took the plunge in several controversial areas (although not the specific one Ken Henry was referencing in April).

Vital questions now remain: how successful will the Government be henceforward? And what further challenges might it tackle should its energy and popularity continue?

It is the most ambitious Federal Budget the nation has seen for a couple of decadesand the strain of committing to action showed on the faces of Labors front bench last night.

Major achievements so far

All lists of accomplishments differ.

Ours includes these ten:

In its first two years, Laborssurplusesrepaid much of the Coalitions disastrous debt. The 2022 pre-election economic and fiscaloutlookpredicted that deficits under Coalition policies over the four years from 2022-23 to 2025-26 would total $224.4 billion. Chalmersreducedthis to $431 million.

Since December 2023, inflation has been 9.7%. The agepensionhas increased by 13.3%, thedoleis up by 16.7%, the youthallowanceis 20.3% higher and commonwealth rentassistanceis up by 39.4%.

The Senate passed this critical legislation last December. Tuesdays budget allocated $2.63 billion to ensure its success. Thats 18.8% higher than the 2024-25 allocation to environmental protection.

Recent toughdecisionshave restricted access but ensured long-term viability.

As job losses, inflation and weak growth impact many economies, Australia advances apace.

Last weeksbudgetreplaced the 50% capital gains tax discounton all assets with a discount indexed to inflation with a 30% floor. It restricted negativegearingto new houses.

Australia alone in the worldachievedthrough 2025:

• jobless rate below 4.5%;
• inflation below 4%;
• interest rates between 3% and 5%;
• GDP growth above 2.5%; and
• triple A credit ratings with major agencies.

Okay, its not perfect, but itsoperatingat last!

This pioneeringmovehas now been adopted by Austria, Denmark, France, Greece, Indonesia, Malaysia and elsewhere.

Most are now seeingreducedtruancy, child suicides, hospitalisation for anxiety and other adverse outcomes.

At the 2025 election, the Coalition won just 43 House seats out of 150. After two subsequent losses, they are nowdownto 41. It will be at least a decade, maybe two, until they have any significant influence.

They are stillscreamingat all Labor governments, butfewvoters are listening.

In the next few weeks, there will be a raft of economic policy decisions taken that will be life-changing for many Australians.

Challenges ahead for a rampant regime

Again, all lists of future aspirations will differ.

Ours includes these ten:

Liberal state governments were warned in the 1990s thatselling offpublicly owned power generation and distribution networks would end badly three or four decades later.

So it has proven.Inflationfor the 12 months to February 2026 was 3.79%. The increase in electricity prices over that period was 30.94%. Much of the gouged revenue was trousered in Singapore, Hong Kong, China and the Middle East.

Buying back those assets will cost billions, but it will be worth it.

Australia alreadymanufacturesautomotive parts, including engines, so it could collaborate with Indonesia or Malaysia to build low-cost LPG-fuelled cars. Sales should target Australia, New Zealand and Southeast Asia.

Affordable, environmentally friendly homes can be built quickly withsandbags,bamboo, syntheticconcrete, oldshippingcontainers, recycled rubber, timber, glass and other reclaimed materials.

Europeans love exotic meats. They nowgrowtheir own kangourou.

(Image supplied)

Expanding Australias kangaroo exports could be as lucrative as Wagyu beef from Japan or Iberico pork from Spain, given zero production costs.

Australian motorists waste thousands of dollars idling at empty intersections. Roundabouts avoid this, cut pollution and cost less to maintain.

Australia is ideal for pilot training due to its open spaces, varied climate, advanced aeronautical industries and more than 2,000airstrips, thanks to 98 years of flying doctorservices.

No other country offers aerial outback safaris with the safety, cost-effectiveness and variety of destinations as Australia. Extraordinary potential.

Australia exports lithium concentrates worth around $5 billion annually, leading the world. It thenimportslithium batteries. Exporting both could earn multiples of $100 billion.

This requires collaboration of governments, Indigenous communities and the industries that have caused the damage.

This was Ken Henrysfocusfour weeks ago. He was right.

Whether or not Dr Henry triggered Dr Jims gutsy landmark budget, as we suspect he did, he hascommendedthe result:

So, yes, we applaud the Governments successes and urge it to keep going.

Alan Austinis an Independent Australia columnist and freelance journalist. You can follow him@alanaustin001and [email protected].

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