Budget 2026 live updates: Taylor asks why Labor ‘lied to Australians’ on tax as Albanese says government could not ‘sit back’; two Liberal MPs booted from question time

PM defends changes to negative gearing and capital gains tax, which Bill Shorten says will give young people a ‘fighting chance’. Follow today’s news liveSee all our Australia budget 2026 coverageGet our breaking news email, free app or daily news podcastAustralia to send military plane to strait of Hormuz reopening missionAustralia will join an international mission to reopen the strait of Hormuz, with plans to contribute a hi-tech surveillance plane to the effort.Our intention is to contribute Australia’s world-leading E-7A Wedgetail aircraft to this defensive effort.While this platform [the Wedgetail] is already doing work in the region, providing this capability would make a valuable contribution to the multinational mission and efforts to secure freedom of navigation in the strait of