39:
1239:
240:
With global inflation decreasing and markets stabilising, the ABC predicts that the budget will focus less on mitigating the impacts of inflation and instead address "trouble in China, sluggish growth, and the ever-present pressures on government spending." All three 'threats' to the budget have been
338:
A 6 May announcement included details on a "Commonwealth Prac
Payment" of $ 319.50 per week, to support teaching, nursing, midwifery and social work students during mandatory unpaid placements for their degrees. In an effort to alleviate the housing supply crisis about $ 90 million is being spent to
241:
raised by the
International Monetary Fund, with a property-driven slow-down effecting the Chinese economy and its import-export markets and the anticipated recommendations from a number of inquiries across the health and aged care, education and social services sectors. Global consulting firm
261:, Chalmers said there would be no "big cash splashes", in part due to already declining iron ore prices and "softening labour market", and that much of the leading items had already been announced including an expansion of the NDIS, university reforms and aged care changes.
252:
Independent economist Chris
Richardson described the government's position as "rolling in cash" as a result of temporary improvements from a stronger-than-expected economy resulting in greater income tax receipts, and higher commodity prices pushing
915:
342:
Every household will receive a $ 300 energy bill credit. A rebate of $ 325 has been allocated towards 1 million small businesses receiving an energy bill. There will be a 10 per cent increase to
Commonwealth rent assistance.
1020:
1142:
907:
848:
272:
Political reporter Brett
Worthington surmised in his analysis that the federal budget will likely deliver an overall surplus for the second year in a row with massive political significance. The
815:
986:
257:
revenue up. Richardson however advised against "using temporary good news to spend big", noting that these financial improvements are likely to reduce. During a press conference with the
284:
had failed to deliver a single surplus budget during its nine years of power until 2022. The 2023–24 budget was the first federal surplus in 15 years, with a final surplus of more than
946:
755:
1043:
696:
881:
599:
778:
1198:
1108:
663:
1077:
1012:
258:
1134:
312:
over 10 years, bringing total military spending to 2.4% of the national GDP. Marles also announced the budget would include the re-allocation of an additional
227:. The consultation period described the budget as focused on support for Australians and creating a "stronger, more inclusive and more sustainable economy".
838:
632:
805:
1191:
978:
566:
1372:
378:
attributed to cost-of-living relief measures and extensions to some time-limited funding. The annual deficit was originally thought to grow to
1403:
938:
320:
injection to "accelerate long-range missiles and targeting systems, as well as lethal autonomous systems." Included in the conference at the
745:
1354:
427:
49:
686:
871:
501:
1184:
435:
324:
was a renewed focus on sea passages throughout South-East Asia and projecting
Australia's defence capabilities throughout the region.
589:
414:
The opposition approved of new budget measures that addressed the cost of living. In the days after the budget's release the lack of
1100:
655:
1418:
224:
1069:
431:
321:
1377:
1349:
1344:
1339:
1334:
1329:
1324:
1319:
1314:
1288:
1283:
1278:
1273:
1268:
1263:
1223:
188:
1247:
1413:
719:
67:
264:
It was forecast that inflation could return to the target band of between two and three per cent, by the end of 2024.
1408:
1228:
277:
370:
It was projected that the budget would provide a surplus for the third year in a row, with a predicted balance of
1207:
220:
150:
30:
783:
309:
622:
38:
1255:
335:
had been announced, with welfare support and energy bill relief highlighted in the lead up to the budget.
273:
205:
77:
327:
Students, welfare recipients and taxpayers were expected to be significant beneficiaries of the budget.
281:
212:
556:
876:
750:
691:
594:
561:
328:
534:
1364:
1306:
1302:
406:(26.6% of GDP), an increase from the previous year but projected to reduce from 2025–26 onwards.
346:$ 1 billion will be spent on crisis and transitional accommodation for women and children fleeing
1251:
280:
for what is seen as financial mismanagement, however
Worthington highlights that the Liberal-led
1298:
1215:
746:"As the federal budget approaches, so begins Jim Chalmers's great expectation management game"
493:
347:
687:"'No big cash splashes' in budget, says Chalmers, but more of budget windfalls will be spent"
482:
339:
cover the education costs of 20,000 people which the government hopes will boost the sector.
1013:"Federal Budget 2024: Billion dollar detail to make Australia 'better for our kids' future'"
354:
1238:
779:"Australia's government is changing after nine years of the Coalition – what happens next?"
353:
Under the 'Future Made in
Australia' program, a $ 22.7 billion investment aims to support
127:
939:"Millions pledged to cover fee-free TAFE to get more workers into housing construction"
478:
301:
246:
219:
across the federal government, and to state and territory governments. It is the third
1397:
254:
1044:"Federal budget to remain in the black with forecast surplus of $ 9.3bn for 2023-24"
474:
208:
87:
656:"Federal budget to haul in extra cash once again, but less than in previous years"
590:"For the first time this term, inflation may not dominate the budget. What will?"
872:"Richard Marles unveils $ 50 billion defence spending increase over next decade"
332:
249:
challenges, investment in infrastructure, and emission reduction initiatives.
415:
497:
1176:
843:
839:"'Biggest surplus ever': Chalmers announces $ 100 billion budget turnaround"
908:"The federal budget is almost upon us. This is what you can expect from it"
1101:"Treasurer says $ 300 energy bill relief could not have been means tested"
1135:"Social and support sectors react with disappointment to federal budget"
810:
806:"Australia posts first budget surplus in 15 years as tax revenues soar"
114:
720:"May Budget 2024: Surplus 'not end in itself' amid inflation focus"
204:
was delivered on budget night at 7:30pm on
Tuesday, 14 May 2024 by
374:. However, the budget was released with a total annual deficit of
979:"Opposition to support energy bill relief, other budget measures"
627:
242:
1180:
292:
since Labor won the 2022 federal elections from the coalition.
430:
said the budget failed to deliver the solutions needed. The
402:
The budget includes total government expenditure totalling
390:
in improvements), and is further predicted to decrease to
526:
1169:
357:
manufacturing and exports to help fight climate change.
174:
223:
handed down by the Labor Party since their victory in
1363:
1297:
1246:
1214:
1070:"The Australian budget is big. Let's break it down"
438:welcomed crucial measures that helped the climate.
169:
161:
149:
139:
126:
113:
103:
93:
83:
73:
63:
55:
45:
434:welcomed any assistance at this time of need. The
382:for 2025–26, however that figure was revised to
685:Roberts, Georgia; Lowrey, Tom (13 March 2024).
259:Committee for Economic Development in Australia
1192:
870:Greene, Andrew; Cowley, Tom (17 April 2024).
483:"Budget Paper 1: Budget Strategy and Outlook"
8:
21:
418:for the energy bill relief was criticised.
1199:
1185:
1177:
621:Yates, Andrew; Rynne, Brendan; Lum, Alia.
515:– via The Commonwealth of Australia.
20:
1042:Karp, Paul; Hannam, Peter (14 May 2024).
276:is frequently criticised by the opposing
300:On Wednesday 17 April, defence minister
1006:
1004:
901:
899:
447:
1128:
1126:
972:
970:
968:
966:
964:
818:from the original on 30 September 2023
507:from the original on 30 September 2024
316:in planned spending, and an immediate
469:
467:
465:
463:
461:
459:
457:
455:
453:
451:
245:anticipates the budget will focus on
7:
744:Worthington, Brett (14 March 2024).
428:Australian Council of Social Service
851:from the original on 3 January 2024
1068:Britton, Alexander (15 May 2024).
1011:Dahlstrom, Michael (14 May 2024).
884:from the original on 20 April 2024
837:Vidler, Adam (22 September 2023).
758:from the original on 19 April 2024
699:from the original on 20 April 2024
635:from the original on 20 April 2024
602:from the original on 19 April 2024
569:from the original on 20 April 2024
537:from the original on 19 April 2024
436:Australian Conservation Foundation
410:Opposition and crossbench response
211:. The budget will dictate how the
14:
16:2024 Australian government budget
1237:
1145:from the original on 15 May 2024
1111:from the original on 15 May 2024
1080:from the original on 14 May 2024
1023:from the original on 15 May 2024
989:from the original on 14 May 2024
977:Roberts, Georgia (15 May 2024).
949:from the original on 13 May 2024
937:Borys, Stephanie (14 May 2024).
918:from the original on 13 May 2024
666:from the original on 13 May 2024
623:"Australian Federal Budget 2024"
557:"2024-25 Pre-Budget submissions"
37:
906:Jeffrey, Daniel (13 May 2024).
588:Crowley, Tom (19 April 2024).
288:, an improvement of more than
202:2024 Australian federal budget
1:
718:Orlando, Adam (14 May 2024).
1404:May 2024 events in Australia
1133:Lang, Sydney (15 May 2024).
1099:Crowley, Tom (15 May 2024).
777:Hurst, David (22 May 2022).
68:47th Parliament of Australia
654:Crowley, Tom (6 May 2024).
215:will allocate an estimated
1435:
236:Predictions and commentary
1235:
1208:Australian federal budget
308:of extra funding for the
185:
36:
31:Australian federal budget
432:Salvation Army Australia
310:Australian Defence Force
50:House of Representatives
1419:2024 government budgets
274:Australian Labor Party
78:Australian Labor Party
814:. 22 September 2023.
213:Australian Government
877:ABC News (Australia)
329:Stage three tax cuts
304:announced more than
268:Political importance
1414:Albanese government
1365:Albanese Government
1307:Morrison Government
565:. 25 January 2024.
322:National Press Club
33:
1409:Australian budgets
361:Financial measures
104:Total expenditures
1391:
1390:
1216:Howard Government
198:
197:
1426:
1241:
1201:
1194:
1187:
1178:
1173:
1172:
1170:Official website
1155:
1154:
1152:
1150:
1130:
1121:
1120:
1118:
1116:
1096:
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1089:
1087:
1085:
1065:
1059:
1058:
1056:
1054:
1039:
1033:
1032:
1030:
1028:
1008:
999:
998:
996:
994:
974:
959:
958:
956:
954:
934:
928:
927:
925:
923:
903:
894:
893:
891:
889:
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861:
860:
858:
856:
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828:
827:
825:
823:
802:
796:
795:
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791:
774:
768:
767:
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763:
741:
735:
734:
732:
730:
715:
709:
708:
706:
704:
682:
676:
675:
673:
671:
651:
645:
644:
642:
640:
618:
612:
611:
609:
607:
585:
579:
578:
576:
574:
553:
547:
546:
544:
542:
527:"Budget 2024-25"
523:
517:
516:
514:
512:
506:
487:
471:
405:
393:
389:
385:
381:
377:
373:
355:renewable energy
319:
315:
307:
291:
287:
218:
181:
178:
176:
157:
145:
135:
121:
109:
108:A$ 734.5 billion
99:
98:A$ 711.5 billion
41:
34:
29:
27:
1434:
1433:
1429:
1428:
1427:
1425:
1424:
1423:
1394:
1393:
1392:
1387:
1359:
1293:
1256:Rudd Government
1242:
1233:
1210:
1205:
1168:
1167:
1164:
1159:
1158:
1148:
1146:
1132:
1131:
1124:
1114:
1112:
1098:
1097:
1093:
1083:
1081:
1067:
1066:
1062:
1052:
1050:
1041:
1040:
1036:
1026:
1024:
1010:
1009:
1002:
992:
990:
976:
975:
962:
952:
950:
936:
935:
931:
921:
919:
905:
904:
897:
887:
885:
869:
868:
864:
854:
852:
836:
835:
831:
821:
819:
804:
803:
799:
789:
787:
776:
775:
771:
761:
759:
743:
742:
738:
728:
726:
717:
716:
712:
702:
700:
684:
683:
679:
669:
667:
653:
652:
648:
638:
636:
620:
619:
615:
605:
603:
587:
586:
582:
572:
570:
555:
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550:
540:
538:
525:
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520:
510:
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504:
485:
481:(14 May 2024).
479:Gallagher, Katy
473:
472:
449:
444:
424:
412:
403:
400:
392:A$ 10.1 billion
391:
387:
384:A$ 34.5 billion
383:
380:A$ 42.8 billion
379:
376:A$ 23.8 billion
375:
371:
368:
363:
348:family violence
317:
314:A$ 72.8 billion
313:
305:
298:
289:
285:
270:
238:
233:
216:
194:
191:
173:
156:A$ 28.3 billion
155:
143:
134:A$ 23.8 billion
133:
119:
107:
97:
25:
23:
17:
12:
11:
5:
1432:
1430:
1422:
1421:
1416:
1411:
1406:
1396:
1395:
1389:
1388:
1386:
1385:
1380:
1375:
1373:2022 (October)
1369:
1367:
1361:
1360:
1358:
1357:
1352:
1347:
1342:
1337:
1332:
1327:
1322:
1317:
1311:
1309:
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1294:
1292:
1291:
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1281:
1276:
1271:
1266:
1260:
1258:
1244:
1243:
1236:
1234:
1232:
1231:
1226:
1220:
1218:
1212:
1211:
1206:
1204:
1203:
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1189:
1181:
1175:
1174:
1163:
1162:External links
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490:Budget 2024–25
446:
445:
443:
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408:
404:A$ 734 billion
399:
396:
388:A$ 8.3 billion
386:(representing
372:A$ 9.3 billion
367:
364:
362:
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302:Richard Marles
297:
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290:A$ 100 billion
269:
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247:cost of living
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217:A$ 715 billion
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144:A$ 9.3 billion
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1045:
1038:
1035:
1022:
1018:
1014:
1007:
1005:
1001:
988:
984:
980:
973:
971:
969:
967:
965:
961:
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724:mining.com.au
721:
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536:
532:
531:Budget.gov.au
528:
522:
519:
503:
499:
495:
491:
484:
480:
476:
475:Chalmers, Jim
470:
468:
466:
464:
462:
460:
458:
456:
454:
452:
448:
441:
439:
437:
433:
429:
421:
419:
417:
416:means testing
409:
407:
397:
395:
366:Balance sheet
365:
360:
358:
356:
351:
349:
344:
340:
336:
334:
330:
325:
323:
311:
306:A$ 50 billion
303:
296:Announcements
295:
293:
286:A$ 22 billion
283:
279:
278:Liberal Party
275:
267:
265:
262:
260:
256:
255:corporate tax
250:
248:
244:
235:
230:
228:
226:
222:
214:
210:
207:
203:
190:
184:
180:
172:
168:
164:
160:
154:
152:
148:
142:
138:
132:
129:
125:
118:
116:
112:
106:
102:
96:
94:Total revenue
92:
89:
86:
82:
79:
76:
72:
69:
66:
62:
58:
54:
51:
48:
44:
40:
35:
32:
19:
1382:
1355:2022 (March)
1147:. Retrieved
1138:
1113:. Retrieved
1104:
1094:
1082:. Retrieved
1073:
1063:
1051:. Retrieved
1048:The Guardian
1047:
1037:
1025:. Retrieved
1016:
991:. Retrieved
982:
951:. Retrieved
942:
932:
920:. Retrieved
911:
886:. Retrieved
875:
865:
853:. Retrieved
842:
832:
820:. Retrieved
809:
800:
788:. Retrieved
784:The Guardian
782:
772:
760:. Retrieved
749:
739:
727:. Retrieved
723:
713:
701:. Retrieved
690:
680:
668:. Retrieved
659:
649:
637:. Retrieved
626:
616:
604:. Retrieved
593:
583:
571:. Retrieved
560:
551:
539:. Retrieved
530:
521:
509:. Retrieved
489:
425:
413:
401:
394:by 2027–28.
369:
352:
345:
341:
337:
331:and student
326:
318:A$ 1 billion
299:
271:
263:
251:
239:
209:Jim Chalmers
201:
199:
165:33.9% of GDP
88:Jim Chalmers
46:Submitted to
18:
1017:yahoo! News
398:Expenditure
333:debt relief
59:14 May 2024
1398:Categories
442:References
231:Pre-budget
122:on average
64:Parliament
844:Nine News
498:1326-4133
422:Reception
282:coalition
206:Treasurer
84:Treasurer
56:Presented
1303:Turnbull
1143:Archived
1139:SBS News
1109:Archived
1105:ABC News
1078:Archived
1074:SBS News
1021:Archived
987:Archived
983:ABC News
947:Archived
943:ABC News
916:Archived
888:20 April
882:Archived
855:20 April
849:Archived
822:20 April
816:Archived
790:20 April
762:20 April
756:Archived
751:ABC News
703:20 April
697:Archived
692:ABC News
664:Archived
660:ABC News
639:20 April
633:Archived
606:20 April
600:Archived
595:ABC News
573:20 April
567:Archived
562:Treasury
541:20 April
535:Archived
502:Archived
120:A$ 1,888
115:Tax cuts
1252:Gillard
811:Reuters
187:‹
170:Website
151:Deficit
140:Surplus
130:payment
24: (
1299:Abbott
1149:15 May
1115:16 May
1084:15 May
1053:14 May
1027:15 May
993:15 May
953:14 May
922:13 May
912:9 News
729:14 May
670:13 May
511:2 June
496:
175:budget
505:(PDF)
486:(PDF)
193:2025›
74:Party
1383:2024
1378:2023
1350:2021
1345:2020
1340:2019
1335:2018
1330:2017
1325:2016
1320:2015
1315:2014
1289:2013
1284:2012
1279:2011
1274:2010
1269:2009
1264:2008
1248:Rudd
1229:2007
1224:2006
1151:2024
1117:2024
1086:2024
1055:2024
1029:2024
995:2024
955:2024
924:2024
890:2024
857:2024
824:2024
792:2024
764:2024
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