Good morning. Thomas Morgan here with Thursday's AM NewsMail.

Ahead of Angus Taylor's budget reply speech tonight, we're continuing to pick over the fine print in Tuesday's budget to learn what it may mean for you. And Insiders host David Speers weighs in on why Labor is choosing this moment to go bold.

Plus, our China correspondent previews the Trump-Xi meeting, and we have an in-depth look at the long waits for residential aged care homes. And we also have a must-read on how the life of one of the most promising athletes in the country began to unravel, and how a sister's love helped uncover his tragic story.

We're starting today in Canberra, where after listening to Treasurer Jim Chalmers hand down a budget full of major reforms on Tuesday, Liberal leader Angus Taylor is tonight set to outline his alternative plan for Australia's finances.

• What will Taylor say? Political correspondent Clare Armstrong reports that the opposition leader will outline a plan to tie Australia's net migration intake to housing construction. His budget-in-reply address will also seek to reject Labor's argument its sweeping tax reforms will improve the fortunes of younger Australians.
• So, who is correct? Economists are divided on the property price hit of Chalmers's budget tax overhaul. Some are forecasting falls of 5 per cent and there is vigorous debate over whether it will lead to more or less homes being built.
• What about Australia's migrant community? Members of diaspora communities also have mixed views on whether the budget reforms announced on Tuesday will meaningfully improve their fortunes. And there are growing fears among renters about whether finding a home may be about to become more difficult.
• And what does David Speers make of it? There are two ways to look at this week. First, the rising wave of populism is making Labor bolder, hence this ambitious budget. And for Taylor, tonight's reply speech is a key test of whether the Coalition can fend off One Nation.

• Power dynamic: Burdened by a major war in the Middle East and sagging domestic popularity, Donald Trump arrives in Beijing on the back foot, writes China correspondent Allyson Horn. So what could Xi Jinping extract from the US president when they meet face-to-face later today?
• London calling: As two globally powerful leaders meet, another is at home trying to save his job. Sir Keir Starmer's future as Britain's prime minister remains on life support amid increasing speculation he will be challenged by one of his own ministers.
• And on the Ukrainian front: Russia has unleashed one of its biggest aerial assaults of the war so far, launching at least 800 drones at Ukraine's cities. Ukrainian President Volodymyr Zelenskyy says Russia is seeking to "inflict as much grief and pain as possible".

• 'Confronting' figures: It is now taking 12 months on average for elderly Australians to get a spot in an aged care home or secure at-home support, a new government report quietly dropped on budget day shows. Advocates say such lengthy waits can have a detrimental impact on the health and wellbeing of older people.
• Stella Prize: Cannon has become the first graphic novel to win the Stella Prize in the literary award's 14-year history. Author Lee Lai tells ABC Arts the novel is a "portrait of anger", written against a backdrop of wars and a pandemic.
• Cyber-ransom: The company that runs learning platform Canvas is at risk of being an easy target for future extortion attempts after striking a deal with a group that stole large amounts of its data. Students and staff at Australian institutions are among those potentially exposed.

—  Five years ago, journalist Russell Jackson's inbox was flooded with this question. A visit to Ian Walker's gravesite would raise more questions than answers, and spark an investigation that would eventually unmask the teacher who abused the brilliant sportsman and Olympic hopeful.

But this extensive piece by Jackson isn't just about one talented young man or the prolific sexual abuser who preyed on boys in Melbourne's bayside suburbs. It is a story about privileged institutions and a sister's courage, persistence and dignity in the face of her grief.

And if this story raises concerns, please contact Lifeline (24-hour crisis line) on 131 114.

A trip to the dentist can be uncomfortable enough even with all the bells and whistles of modern medicine, but it turns out being treated for a cavity is nothing new.

Scientists believe they've discovered the first evidence of ancient dentistry in a 59,000-year-old tooth. What's more, the patient wasn't even a Homo sapien but a Neanderthal, giving scientists exciting new insights into on how our hominin cousins may have thought and acted.

And that's it for today. Thanks for reading. We'll be back at the same time tomorrow with more.

Thomas and the ABC News Digital team.

Some economists are forecasting price falls of up to 5 per cent as a result of measures to reduce intergenerational housing inequality.

Nine years after his last meeting with Xi Jinping in China, Donald Trump is more aggressive and assertive. But so is Beijing. And its president is ready to take the geopolitical and economic lead.