Treasurer Jim Chalmers confirmed a budget savings package will be delivered in mid-December while downplaying prospects for additional cost-of-living relief, following an RBA rate hike to 4.60 per cent.

President Donald Trump defended his pledge to send $5,000 cash payouts to American adults, insisting the plan is easily manageable if Republicans retain Congress.

Anthony Albanese has launched a political offensive against the Coalition and One Nation, framing his government’s budget measures as a response to voter concerns.