Treasurer faces $26bn deficit in 25 March budget. Follow today’s news liveThe premier of Queensland, David Crisafulli, appeared on the Today show this morning following media reports suggesting tropical cyclone Alfred will cost the budget around $1.2bn.Asked if he was concerned the hit might signal a limit to the amount of financial assistance affected residents would receive, he said the state government’s focus was “to make sure we go from response to recovery”.We’ve got to do things differently. So I acknowledge it might cost a little bit more up front to do that. But why would you replace things to