Federal Treasurer Jim Chalmers is preparing measures aimed at reducing budget deficits, according to multiple reports citing government sources. The articles say the push comes amid internal concern within the cabinet about the timing and public impact of a warning issued by former Reserve Bank official or related figures referred to as Bullock. Sources described ministerial irritation at Bullock’s decision to enter the public debate at what they consider a sensitive point in the government’s financial planning and messaging. While the sources differ in how they characterize the broader political context, they converge on two main points: Chalmers is focused on deficit reduction, and cabinet figures are critical of Bullock’s intervention. The reporting does not describe specific policy details in the excerpts provided, but frames the situation as a balance between fiscal strategy and how external commentary influences public and political discussion. Overall, the accounts portray a government managing both budget targets and cabinet dynamics tied to public warnings.