Fallen Apart: Shadow Treasurer Says Australians Will Pay for Budget Failures

Shadow Treasurer Tim Wilson speaks during a press conference at Mural Hall in Australian Parliament House in Canberra, Australia, on May 12, 2026. Hilary Wardhaugh/Getty ImagesShadow Treasurer Tim Wilson says Labor’s budget has “completely fallen apart” after the government backtracked on some of its proposed tax reforms.The Liberal MP made the comments following the Labor government’s announcement that it would amend some elements of its controversial tax reforms, first outlined in the 2026–27 budget and later incorporated into the Treasury Laws Amendment (Tax Reform No. 1) Bill 2026.