It’s On: The 2025 Election Preview and Budget Analysis

The federal election was announced for May 3, and we unpacked Treasurer Jim Chalmers’ pre-election Budget – marked by cautious politics, modest tax cuts, and the usual barrage from conservative media. Despite early signals of a deficit, the Budget offered little reform, continuing Labor’s trend of incrementalism and risk-averse fiscal policy, with no major action on tax reform, resource royalties, or climate change – even as record-breaking temperatures highlight the urgency. We also analysed the Coalition’s chaotic Budget reply, Angus Taylor’s puzzling opposition to tax cuts, Peter Dutton’s populist stunts on fuel excise and nuclear energy, and the broader political landscape – from rising corporate profits and stagnant welfare to Labor’s silence on Palestine and environmental backdowns. #AUSPOL #Election2025This podcast series has been compiled into the book, The Red Wave: The New Politics review of the 2025 Australian federal election, available through Amazon:Amazon: https://www.amazon.com.au/dp/B0F93G666V Support New Politics, just $5 per month: Patreon: https://www.patreon.com/newpoliticsSubstack: https://newpolitics.substack.com Song listing:‘Good Stuff’, The B-52s.‘Crying’, Strawpeople.‘Trouble’, Vox Noir.‘Teardrop’, Massive Attack.‘Humiliation’, The National.