Australia's budget deficit for the last financial year was approximately $10 billion, significantly better than the $27.6 billion deficit predicted in the March pre-election federal budget. This improvement of nearly $18 billion reflects a stronger economy and increased tax revenue, according to government officials. Treasurer Jim Chalmers and Finance Minister Katy Gallagher are set to announce the Final Budget Outcome for 2024-25 later today.

Gallagher attributed the positive results to more Australians securing jobs and earning higher wages, which has led to increased tax revenue. "These results haven't happened by accident; rather, they are the product of careful decisions like banking the majority of revenue upgrades, finding more than $100 billion in savings, and keeping spending growth under control," she stated.

Chalmers noted that the current deficit is about a fifth of the forecast inherited from the previous government and a third of the pre-election forecast. He emphasized that Australia has one of the strongest budgets in the G20.

In other news, Optus is facing scrutiny after another network outage affected emergency calls in New South Wales. The outage occurred near Wollongong, where nine triple-0 calls failed due to issues with a mobile phone tower in Dapto. Finance Minister Katy Gallagher expressed disappointment over the incident, especially following a previous outage. "I imagine for many Optus customers this is more disappointing news off the back of the major disruption that happened the week before," she said. Gallagher noted that Optus had made the necessary reports this time but acknowledged that more work is needed.

Additionally, a new independent commission aimed at preventing suicide among current and former defense force members has begun operations. The Defence and Veterans' Services Commission was established following recommendations from the Royal Commission into Defence and Veteran Suicide. Although it currently lacks a permanent commissioner, Penny McKay will serve as the acting commissioner while a recruitment process is underway. Veterans' Affairs Minister Matt Keogh stated that the commission's goal is to reform a system that has been described as broken. Nine recommendations from the royal commission have already been fully implemented by the federal government since the findings were released last August.

In international news, Prime Minister Anthony Albanese attended the UK Labour Party's annual conference in Liverpool, where he reaffirmed the strong relationship between Australia and the UK. He vowed to "defend democracy itself" alongside British Prime Minister Keir Starmer. Albanese's remarks came during a speech where he addressed the challenges of trust in government and the rise of extremist movements. He emphasized the importance of maintaining democratic values in the face of political challenges.