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The new Finance Minister has pledged a multi-billion dollar economic repair job, carving out an initial $7.5 billion of savings to help deliver tax cuts.
The details of how those tax cuts will be rolled out next year though were notably absent from today's mini-Budget, with that to come in the full May Budget next year.
It comes as Treasury warns that economic conditions and the government's finances are worse-than-expected.
Here's our deputy political editor Craig McCulloch.