Treasurer Jim Chalmers has delivered Labor’s first budget in a decade, with a focus on the future.

As for Mr Chalmers’s claim that Australia has “a trillion dollars of debt”, an analysis published earlier this week by Fact Check found that when it came to gross debt, the trillion dollar figure had yet to be reached, but was forecast to be surpassed by the end of 2023-24.

The updated figures contained in this week’s budget do not change this finding.

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