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Australia Budget Expected to Rock Stocks From Housing to Mining

  • Infrastructure firms, critical-minerals producers to get boost
  • Government focused on cutting spending where possible

Mining, infrastructure and childcare shares are among just a handful of stock winners expected to be unveiled within Australia’s budget Tuesday, as the new Labor government aims to focus on fiscal credibility amid tighter monetary policy and soaring inflation.

The financial blueprint, Prime Minister Anthony Albanese’s first since winning May’s federal election, will emphasize campaign pledges and trim spending where possible, the government has said. While the country’s benchmark S&P/ASX 200 Index is down 8.9% this year, it’s less than one-third of the losses on the MSCI Asia Pacific Index.