Chalmers unveils the Budget, and Eurovision's back again

This episode of Squiz Today covers major developments across Australian politics, military, legal, and cultural spheres. Treasurer Jim Chalmers unveiled the federal budget, featuring significant tax reforms including the phase-out of negative gearing for existing homes and the scrapping of the capital gains tax discount for assets held before 1985—measures projected to save $77.2 billion over a decade. These changes, while framed as efforts to boost housing affordability and support younger Australians, have sparked debate over 'grandfathering' provisions that protect existing property investors. The episode also reports on a tragic mid-air collision during military training at Jervis Bay, resulting in the death of elite SAS Warrant Officer Lachlan Muddle, prompting a suspension of all parachute training. In a landmark legal decision, the Injibandi people of Western Australia were awarded $150.1 million in native title compensation after Fortescue mined their land without consent. Meanwhile, the medical community has rebranded polycystic ovary syndrome (PCOS) to polyendocrine metabolic ovarian syndrome (PMOS) to reflect its broader systemic impact and improve diagnosis. The episode closes with a spotlight on Eurovision 2026, where Australian entrant Delta Goodrum is a top contender in the second semi-final, while also noting political turbulence in the UK with calls for Keir Starmer’s resignation and the return of the band Split Ends on tour.