Australia takes aim at rising fuel prices with annual budget

Parliament House in Canberra. Treasurer Jim Chalmers says, "We're delivering a fairer tax system for workers, first home buyers and future generations." (Photo by Ken Kobayashi) CANBERRA — Australia will allocate additional funds to boosting its fuel and fertilizer supplies as part of a package worth 14.8 billion Australian dollars ($10.68 billion) aimed at addressing the global energy shock unleashed by the U.S.-Israel-Iran war, Treasurer Jim Chalmers announced on Tuesday while unveiling the country's annual budget.

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