Federal Budget
Better budget bottom line, higher inflation on the way
18 December
Treasury has updated its economic and fiscal forecasts for the next four years in its mid-year budget update. BUDGET DEFICITS (PREVIOUS IN BRACKETS): * 2025/26 – $36.8 billion ($42.2b) * 2026/27 – $34.3b ($35.4b) * 2027/28 – $36.2b ($27.1b) *...[Read More]
Budget $5.4b better off as Chalmers tightens the belt
18 December
Treasurer Jim Chalmers will unveil a $5.4 billion improvement in the federal budget this financial year, even as the deficit sinks to its worst level in five years. With judicious use of words such as “sensible” and “restraint”, Dr Chalmers...[Read More]
Chalmers spins battery blowout into budget savings
18 December
Treasurer Jim Chalmers has used a $4.9 billion blowout in home battery subsidies to claim the government saved taxpayers $6.7 billion in the mid-year budget update. The battery subsidy program was initially set to cost taxpayers $2.3 billion but the...[Read More]
Here are Treasury’s key forecasts for 2025/26, compared to the previous budget
25 March
The following outlines the Treasury’s key economic forecasts for the fiscal year 2025/26, highlighting notable changes and trends by comparison with projections provided in the previous budget. These forecasts offer valuable insights into expected...[Read More]
Winners and losers from the federal budget revealed
25 March
Here’s a snapshot highlighting the key winners and losers from the latest federal budget, revealing who stands to gain and who might feel disadvantaged by recent government decisions. WINNERS * Taxpayers: All taxpayers will get tax cuts in July...[Read More]
Taxpayers to get $10 a week cut in pre-election budget
25 March
Taxpayers are being promised $10 a week of relief in a pre-election sweetener, as Jim Chalmers lays out the economic case for a second term of a Labor government. In his fourth federal budget handed down on Tuesday night, weeks before Australians go...[Read More]
Federal Budget at a glance: focus on power bills, medicines and rent relief
15 May
THE BUDGET Budget surplus of $9.3 billion in 2024/25 Commonwealth net debt to rise to $552.5 billion (20 per cent of GDP) in 2024/25 Economic growth to rise to two per cent in 2024/25 Unemployment rate to rise to 4.5 per cent in 2024/25 Inflation...[Read More]
Biggest winners and losers revealed in federal budget
15 May
BUDGET WINNERS AND LOSERS WINNERS Lower income households – more energy bill assistance on the way Small businesses – energy bill rebates and extension of asset write offs Renewable and other energy companies – tax breaks and other incentives...[Read More]
Your Federal Budget summary
11 May
The Federal Budget at a glance Budget deficit of $13.9 billion in 2023/24 Commonwealth net debt to rise to $574.9 billion (22.3 per cent of GDP) in 2023/24 Economic growth to fall to 1.5 per cent in 2023/24 Unemployment rate to rise to 4.25 per...[Read More]
Summary of the 2023/24 federal budget
9 May
SUMMARY OF 2023/24 FEDERAL BUDGET ECONOMY * Budget surplus of $4.2 billion in 2022/23 * Deficits of $13.9 billion in 2023/24, $35.1 billion in 2024/25, $36.6 billion in 2025/26 and $28.5 billion in 2026/27 * Commonwealth net debt rising to $574.9...[Read More]
Federal budget 2023/24 at a glance: Who are the winners and losers?
9 May
The Federal Budget at a glance * Budget deficit of $13.9 billion in 2023/24 * Commonwealth net debt to rise to $574.9 billion (22.3 per cent of GDP) in 2023/24 * Economic growth to fall to 1.5 per cent in 2023/24 * Unemployment rate to rise to 4.25...[Read More]
Key Treasury economic forecasts in the 2023/24 budget
9 May
Economic growth is set to more than halve in 2023/24 before picking up in the following three years, as Australia continues to feel the impact of weak conditions offshore. But there is better news on inflation, which is expected to finally return to...[Read More]
Small business owners promised thousands in savings
9 May
Businesses struggling to make ends meet will be able to claim tens of thousands of dollars in tax incentives to drive down power bills and boost productivity. Small business minister Julie Collins says they are “the lifeblood of our economy” and...[Read More]
Budget good, but more needed: business
27 October
Peak business groups have hailed the Albanese government’s first budget as careful and cautious, but warn hard work lies ahead to shore up the economy. Business Council chief Jennifer Westacott said the Labor economic blueprint made the necessary...[Read More]
Treasury 2022/23: Four year budget economic forecasts
26 October
Economic growth over the four years to 2025/26 is likely to be slower than predicted ahead of the May federal election, due to global challenges, high inflation and higher interest rates. KEY ECONOMIC FORECASTS IN 2022/23 BUDGET GDP (real, versus...[Read More]