The Albanese government has been warned it must increase taxes and reduce spending to repair the budget, according to Treasury advice mistakenly released under freedom of information.
The confidential briefing, prepared after the election, also says the government’s goal to build 1.2 million homes in five years is unlikely to be met.
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It flagged indirect taxes and changes to super tax breaks, while backing lower income and company tax rates.
It also indicated support for reducing personal and company tax rates to boost growth.
The document also shows the Treasury has modelled financial shocks triggered by US instability, including a loss of confidence in the US dollar or central bank.
After discovering the mistake, the Treasury asked the ABC to delete the file.
The media outlet refused, citing public interest.
Treasurer Jim Chalmers dismissed the leak, saying he was “pretty relaxed” and the advice aligns with existing government priorities.
“What’s happened here is that a Treasury official has sent those documents in error,” Charlmers said.
“That sort of thing happens from time to time. I’m pretty relaxed about it, to be honest, because, of course, the Treasury provides advice for incoming governments and no government typically goes into the details of that,” he said.
“The other reason I’m pretty relaxed about it is we have already made it really clear that we will need to do more to meet our housing targets.”
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