Treasurer Jim Chalmers' high-powered and glamorous wife Laura was slammed for being 'tone deaf' last year after wearing a $1,900 outfit to his Budget speech, which was all about the cost of living crisis.

People are still very much feeling the pinch in 2025 but the former political adviser-turned magazine editor appears to have taken the feedback on board by turning up in a dress a fifth of the price. 

Ms Chalmers wore a modest yet stylish black dress as she supported her husband while he handed down the 2025-26 Budget in Canberra on Tuesday night alongside one of their three children.

Her dress, believed to be created by Melbourne-based fashion designer Mossman and costs $329.95, is described as the 'epitome of timeless elegance'. 

'Featuring a flattering A-line design, this dress includes a draped bodice, shoulder tucks and a defined waistline to accentuate the silhouette,' its online listing states.

Wearers are encouraged to complete the look with 'minimalist heels for an effortlessly elegant style', advice Ms Chalmers followed in the House of Representatives on Tuesday night.

It marked a major budget-saving of her own, after she made headlines for wearing an $899 yellow Carla Zampatti dress and a matching $999 jacket in 2024.

The outfit, which cost the equivalent of a week's wages for many Australians, sparked anger, with one online commenter branding it 'top tier tone deaf'.

Daily Mail Australia's Political Editor Peter nan Onselen said he didn't 'begrudge politicians and their partners wearing expensive outfits on Budget night'.

'Actually, I don't care at all to be completely honest. I am shocked, however, by the lack of political nous attached to doing so,' he wrote in 2024.

'Shouldn't savvy politicians at least pretend to be somewhat in touch with the challenges ordinary Australians are facing, if only for one night?'

Two months later, at the Midwinter Ball in Canberra, Ms Chalmers wore a powder blue Rebecca Vallance gown worth a whopping $1,500. 

Full-time workers in Australia earn an average wage of $1,889 per week, according to data from the Australian Bureau of Statistics.

An average salary is $98,218 while the median annual salary is $67,600.

Dr Chalmers claimed his focus in this year's Budget was bringing 'more hip pocket help for households' doing it tough right now.

'The cost-of-living is front of mind for most Australians and it's front and centre in this Budget,' the Treasurer said.

'We know the welcome improvements in the aggregate numbers don't always immediately translate to how people are feeling and faring.

'We've made a lot of progress together but we know many people are still doing it tough.'

The centrepiece of his Budget was a promise of two tax cuts to every Australian taxpayer in 2026 and 2027.

Combined with Labor's stage three tax cuts last year, the average tax cut is expected to be around $43 per week or more than $2,200 in 2026-27, and around $50 per week or more than $2,500 in 2027-28.

'This will take the first tax rate down to its lowest level in more than half a century,' Dr Chalmers said on Tuesday night.

'These additional tax cuts are modest but will make a difference.'

Dr Chalmers' salary rose to $438,081 in June last year.

Prime Minister Anthony Albanese is paid a whopping $607,471, while Opposition Leader Peter Dutton takes home $432,239.

Ms Chalmers, formerly known as Laura Anderson, worked as a press secretary for former Prime Minister Julia Gillard and Foreign Affairs Minister Penny Wong before moving back to her first love, journalism.

Her successful career led to her becoming the national editor-in-chief for News Corp's Saturday Weekend Magazines in November 2021, just after returning from maternity leave.

It is a position she still holds, according to her LinkedIn profile.

Ms Chalmers cut her teeth in politics as the state political reporter for her hometown Adelaide's Advertiser newspaper from January 2003 to May 2006.

She then spent almost three years in Canberra as the Advertiser's federal political reporter before working for Ms Wong and, later, Ms Gillard.

Her political career came to an abrupt end in July 2013 when Kevin Rudd deposed Ms Gillard in an internal Labor stoush and replaced her as prime minister.

She and Dr Chalmers had married in March 2013 just two days after a previous Labor leadership spill - by Simon Crean - which Ms Gillard has survived.

The then PM attended the wedding, where she and then Treasurer Wayne Swan were given a specially set-aside room to form a new ministry.

The seating plan at the reception had to be changed at the last minute to keep warring Labor operatives apart - placing Julia Gillard beside Dr Chalmers' mother Carol.

He later played down the disruption, saying 'from our point of view, it wasn't that unusual, to be honest.'

The couple have three children - Jack, Annabel, and Leo.