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These Are the Winners and Losers From Australia’s 2022-23 Budget

Jim Chalmers on Oct. 25.

Jim Chalmers on Oct. 25.

Photographer: Martin Ollman/Getty Images

Australia’s center-left Labor government has revealed its first budget, a combination of delivering on election promises, billion-dollar spending cuts and warnings of widening deficits ahead. Here are the winners and losers of Treasurer Jim Chalmers’ budget presentation to parliament.

The Labor government is pouring billions of dollars into new projects to boost renewable energy and transition away from fossil fuels, in line with their election promises. Everything from modernized electricity transmission, to electric vehicle charging stations and new funding for critical minerals research.

Some of the funding has yet to be distributed and other projects are still a while away from being completed, but it is a big signal by the government that it is not backing away from its commitment to combatting climate change.