Internal Treasury advice to the Albanese government has been accidentally revealed through a Freedom of Information (FOI) slip-up — and it points to major policy (and hip-pocket) challenges ahead.

As first reported by the ABC, the Treasury’s “incoming government” brief to Treasurer Jim Chalmers and Housing Minister Clare O’Neil was released with redacted sections still visible in the document’s headings. Those headings revealed advice that the government’s flagship target to build 1.2 million homes over five years “would not be met” — and that Treasury had suggested adjusting the goal.

The brief also warned that the federal budget won’t be sustainable without raising taxes and cutting spending. While no specific tax increases were detailed, Treasury flagged changes to indirect taxes (such as GST or fuel excise) and superannuation. The advice noted a preference for keeping company and income taxes low.

Treasurer Chalmers has recently signalled a willingness to explore broader tax reform, with a roundtable discussion planned for August.

The FOI documents also showed that Treasury has modelled worst-case global economic scenarios, including a loss of confidence in the US dollar or the independence of the US Federal Reserve — a sign of increasing concern about global volatility.

The ABC says Treasury requested the documents be deleted after realising the mistake. However, the broadcaster has chosen to publish the findings, citing clear public interest.

You can read the full ABC story by Laura Tingle here.