Your Federal Budget summary

May 11, 2023

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]

Budget good, but more needed: business

October 26, 2022

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

October 26, 2022

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]

Billions set aside for aged care reforms

October 26, 2022

Long-awaited aged care reforms are set to be delivered thanks to a multi-billion dollar boost. The federal budget shows $2.5 billion will be spent over the next four years to ensure all aged care facilities have a registered nurse onsite around the...[Read More]

Treasury to report on wellbeing progress

October 26, 2022

Australians will soon be able to see in fine detail how the nation is making progress on everything from women’s safety to a cleaner environment. Treasury is working on a report – to be known as the Measuring What Matters Statement – which...[Read More]

Federal budget shows 3.75pct jobless rate

March 30, 2022

Forecasts for the unemployment rate have been slashed in the federal budget to levels not seen since the early 1970s. Treasurer Josh Frydenberg will hand down his fourth budget on Tuesday predicting an unemployment rate falling to 3.75 per cent...[Read More]

What we know so far about federal budget

March 16, 2022

FEDERAL BUDGET – WHAT WE KNOW SO FAR: THE BIG PICTURE * With the COVID-19 pandemic, flooding and Ukraine-Russia war creating headwinds, Treasurer Josh Frydenberg is emphasising the theme “economic strength is the foundation of national...[Read More]

Treasurer to lift growth in budget review

December 8, 2021

Colin Brinsden, AAP Economics and Business Correspondent (Australian Associated Press)   Treasurer Josh Frydenberg says the government’s forecast for economic growth next year will be stronger then predicted in the May budget when he...[Read More]

Business gives big budget spend thumbs up

May 12, 2021

Adam Bennett and Colin Brinsden (Australian Associated Press)   Businesses will be the engine room for Australia’s recovery from the coronavirus recession, with Josh Frydenberg declaring a sustainable recovery requires a strong private...[Read More]

Federal budget 2021/22 at a glance

May 11, 2021

Paul Osborne (Australian Associated Press)   THE FEDERAL BUDGET AT A GLANCE KEY FORECASTS Budget deficit of $106.6 billion for 2021/22 (5 per cent of GDP) Economic growth to rise by 4.25 per cent in 2021/22 Unemployment to average 5 per...[Read More]

Multi-billion dollar mental health boost

May 11, 2021

Daniel McCulloch (Australian Associated Press)   Australians in need of mental health support are set to benefit from a $2.3 billion package included in the federal budget. The new funding will be spent over the next four years, adding to major...[Read More]

Who are the budget winners and losers?

May 11, 2021

Paul Osborne (Australian Associated Press)   WINNERS AND LOSERS IN THE 2021/22 BUDGET WINNERS Small Business – Incentives to innovate and grow Taxpayers – Extended relief for low and middle income earners Elderly – More home...[Read More]

A summary of the 2021/22 federal budget

May 11, 2021

Paul Osborne (Australian Associated Press)   A SUMMARY OF THE 2021 FEDERAL BUDGET ECONOMY * Budget deficit of $106.6 billion in 2021/22 * Deficit narrows to $99.3 billion in 2022/23, $79.5 billion in 2023/24 and $57 billion in 2024/25 *...[Read More]

Record $17.7b to improve aged care system

May 11, 2021

Rebecca Gredley (Australian Associated Press)   A record $17.7 billion will go toward improving Australia’s aged care system in response to a damning royal commission into the sector, which heard harrowing tales of abuse and neglect. The...[Read More]

Jobs plan for cashless welfare card sites

May 11, 2021

Rebecca Gredley (Australian Associated Press)   Some welfare recipients on the cashless debit card system will get extra support to find work through a federal budget measure. Tuesday’s budget reveals a $30 million package to upskill...[Read More]