Thanks for joining us on this evening's budget blog. 

There's a lot to recap but I'll try my best:

• A new tax cut will see workers earning an average $79,000 a year would pay $268 less in tax in 2026

• Labor will abolish non-compete clauses in workplace contracts in a move aimed at bolstering labour-force mobility 

• The deficit is expected to continue through 2035-36, with net debt rising from 19.9 per cent of gross domestic product to 21.5 per cent in 2025-26 and 23.1 per cent in 2028-29

• Electricity bill rebates will be extended by six months, providing another $150 cut to power bills

You can also do your own digging via our winners and losers list  or by checking out the interactive tax calculator.

And don't forget, you can always listen to our many podcasts for more insights from experts and reporters: 

• ABC News Daily has a breakdown of this year's budget and what it means for you
• Meanwhile, Politics Now host Patricia Karvelas and chief digital political correspondent Jacob Greber discuss a government 'ready for battle'

You can look back at all the developments below or download the ABC News app and subscribe to our breaking news and politics alerts to stay up to date.

The government is spruiking its ban on non-compete clauses in the budget, which one in five Australian workers are subject to.

Non‑compete clauses are conditions in employment contracts that prevent or restrict an employee from moving to a competitor.

A ban on these clauses is aimed at freeing up low and middle income workers to move to higher-paying jobs in the same industry, boosting wages and productivity.

But CEO of the Australian Industry Group Innes Willox has described the move as a "horror show" and a "nightmare".

"It will lead to undoubtedly more litigation, renegotiation, and rewriting of employment contracts across the board."

"An employee can just pick up, walk around the corner, and start a new business tomorrow, completely undermining the employer who's taken enormous risks," he told ABC's PM program.

"Non-compete clauses are not widely used in Australia, they're not used by hairdressers and yoga teachers, as the government has said.

"That's just a complete furphy and a nonsense.

Nationals leader David Littleproud has condemned what he says is a lack of funding for regional Australia. 

He says there's no money set aside for a number of key regional funds. 

"Even after being in Government for three years, the Albanese Government will spend less than 1 per cent of Labor's infrastructure announcements in 2025-26," he says. 

"Regional Australians will not only bear the brunt of more infrastructure cuts, but have the extra burden of Labor's cost-of-living crisis."

As we start to wrap up for the night, it's worth pointing this bit of good news (at least for the panda lovers amongst us). 

Adelaide Zoo's Giant Pandas Xing Qiu and Yi Lan will be millionaires thanks to a $3.8 million spend over five years to support their ongoing stay.

The couple officially arrived at the zoo at the beginning of this year on loan from China with hopes that they may become a future breeding pair.

There's a lot to digest in this year's budget, but we want to hear from you and answer your burning questions.

How is the budget going to affect you and your household? Are the measures what you were hoping for, or have you fallen through the cracks?

Let us know using the link below, and we'll be using your responses to inform our coverage in the days and weeks going forward.

Well overall, nothing new. A lot of the funding promises were outlined in the government’s Closing the Gap plan in February.

That $1.3 billion package over six years focused on economic empowerment, food security, health and wellbeing.

As a gentle reminder, for cost of living there was $50 million announced to reduce the costs of 30 essential products such as milk and nappies in more than 76 remote stores.

A big-ticket item was the $842.6 million over six years to assist the delivery of critical services in remote NT communities.

There’s $24 million towards the Indigenous Procurement policy, after a new target was announced in February that 3 per cent of government contracts should go to Indigenous-owned businesses.

And there’s $137.3 million over 3 years for the new “remote jobs” scheme that replaces the CDP.

As we mentioned earlier, the peak body for First Nations housing was hoping for a “significant and meaningful” proportion of mainstream housing funding to be redirected to First Nations community-controlled organisations – and that hasn’t happened.

But there is a $70.9 million boost to the fund that helps low-income First Nations people obtain home loans, of which $20 million will go towards single carers, most of whom are women.

You probably heard a bit about the Pharmaceutical Benefits Scheme (or the PBS) last week, given US Big Pharma companies sledged it and both sides of politics promised to make PBS scripts cheaper. 

You’re probably going to continue to hear more about it, given the government has promised to drop the price of PBS-listed medicine to $25 if re-elected (and the Coalition then matched the promise). 

These developments have prompted a flurry of Google searches, with questions such as “What is the PBS”, “What drugs are covered by the PBS” and “How can I get cheaper medicine” spiking in Australia. 

If you have similar questions following the budget, we prepared this explainer for you earlier. 

As we head into the late hours, it's worth recapping Jim Chalmers's chat with Sarah Ferguson following his budget speech. 

Australians earning the national average income will earn a tax cut of more than $1,600 from 2026 onwards, according to the latest federal budget.

The new round of "modest" tax cuts form part of a slew of cost-of-living measures announced by the Treasury.

Treasurer Jim Chalmers said "families of middle Australia" would receive the most, with an average household receiving a combined benefit of "more than $15,000" over the next four years.

"We're delivering energy bill relief to every household, even cheaper medicines, historic investments in Medicare, higher wages and a fairer go for consumers," he said.

My colleague Brianna Morris-Grant explains what that may mean for you: