Category: Australian News

We know Australians are feeling under pressure. That’s why our budget is designed to deliver for every Australian, in every part of our economy and every part of our country.

There are tax cuts for every Australian taxpayer – not just some.

There is energy bill relief for every Australian household – not just some.

Australians will receive an energy rebate of $300 from July 1 – and one million small businesses will get $325. As well as getting power bills down, making housing costs cheaper by boosting Commonwealth Rent Assistance and providing debt relief for university students, we are also helping Australians get the accessible healthcare they need.

We are making Medicare stronger, and medicine cheaper, by freezing the cost of prescriptions.

Australians need affordable housing and we need to build more homes right across the country. Our Homes for Australia plan invests billions to do just that, and we’re boosting fee-free TAFE to train more tradies to build them.

We need to back Australian talent, hard work and creativity – making sure wages are growing – especially for those who do the crucial work of caring for our kids and older Australians.

This is a budget for every Australian, from a government working for all Australians. Inflation has been moderating and real wages are growing.

But Australians continue to feel financial pressure.

Our No.1 priority is giving Australians cost-of-living relief. 

Tuesday night’s budget provides responsible relief for households while reducing inflationary pressure in the economy.

Our actions are careful, deliberate and responsible – and because of that we’ve been able to forecast a second surplus of $9.3bn. Last year we turned a $78bn deficit that we inherited from Scott Morrison into a $22bn surplus.

While we’ve been razor-focused on the immediate needs of families, we also need to invest in the future. We need to build economic and energy security for Australia. We are working to set up the country for success over the longer term.

We need to secure a future made in Australia, with secure, well-paid jobs.

This is about Australia seizing a once-in-a-generation chance to become a renewable energy superpower. We need to attract more investment in homegrown industries so we can make more things here.

The great regions of Australia – the Illawarra, the Hunter Valley, the Latrobe Valley, Geelong, Gladstone and the resources precincts of Queensland and Western Australia – have powered Australia for a couple of centuries, and they will continue to do so in the net-zero world.

We need to use our rich abundance of natural and human resources to power a secure and sustainable future.

Encouraging investment in areas like critical minerals and green hydrogen will help make Australia an indispensable part of the net-zero economy of the future.

The budget invests in Australia’s economic future with production tax incentives for green hydrogen and processed critical minerals.

A new Future Made in Australia Innovation Fund will also back new industries like low-carbon fuels and green metals. Australia has all the tools it needs to prosper in the net-zero world. All that’s required is a government prepared to back in Australian jobs and opportunity.

Our political opponents are all negativity and no plan.

While the government has been relentless in fighting inflation, and fighting for Australian families, Peter Dutton’s only relentlessness is playing politics.

On Thursday we will hear from Mr Dutton. He has spent the past two years saying no to every measure we’ve proposed to deal with cost of living.

He has said no to energy bill relief, no to cheaper medicines, no to wage increases.

It’s time for Mr Dutton to give Australians some answers. He needs to deliver fully costed plans. He needs to tell Australians what services he’ll slash. He needs to come clean about where he’ll put his nuclear reactors.

Budgets are about choices, and we are proud of our choices.

The government seeks to represent every Australian.

There’s more to do, and we’ll keep working every day to deliver for all Australians.

This opinion piece was first published in The Australian on Thursday, 16 May 2024.

The Albanese Government is making critical investments in Victorian infrastructure, creating jobs and unlocking Melbourne’s North.

This week’s Budget delivers an additional $750 million to complete the Camerons Lane Interchange at the intersection of the Hume Freeway at Beveridge.

This takes the total Commonwealth Government commitment to the project to $900 million, part of our $19.2 billion investment in Victorian transport infrastructure over the next 10 years.

The Camerons Lane Interchange will support urban development in Melbourne’s north, and ensure easier access to and over the freeway.

It will be integral to the development of the Beveridge Intermodal Precinct, which, once complete, will be the largest intermodal in Australia, expected to generate 20,000 jobs for the region.

The Beveridge Intermodal Precinct will transform the nation’s supply chain, lowering costs for Australian businesses and families.

It is strategically located on the Inland Rail route and will support double-stacked container services for 1,800 metre freight trains to Adelaide, Perth, Darwin and Brisbane via Parkes, or directly to Sydney.

We are working closely with the Victorian Government on priority projects for the benefit of the Victorian community.

While the previous Morrison Government had a deluge of press releases with a drought of delivery, the Albanese Government is ensuring projects are properly scoped, designed and costed so they can actually be completed.

We are delivering a better future for all Australians, one made in Australia that builds economic opportunity and thriving communities.

Prime Minister Anthony Albanese:

“We delivered a Budget this week for every Australian, from a Government working for all Australians.

“This important Budget announcement for Victoria is focused on our national interest and building a Future Made in Australia.

“This project won’t just get Victorians moving, it’s also creating thousands of jobs.

“Being stuck in traffic doesn’t just waste precious time you could be spending with the kids, friends or just getting on with life. It’s bad for productivity too.”

Minister for Infrastructure, Transport, Regional Development and Local Government Catherine King:

“The Camerons Lane Interchange at Beveridge will help create thousands of jobs and unlock the potential of Melbourne’s north while allowing us to work with the Victorian Government to deliver a full diamond interchange with the Hume Freeway.

“For too long, the Morrison-Joyce Government neglected Melbourne’s North – failing to deliver a single commitment for this area despite multiple promises over nine years.

“We are working for all Australians to deliver significant infrastructure that connects communities, stimulates jobs and builds the future of our nation.”

Federal Member for McEwen Rob Mitchell:

“The Camerons Lane Interchange will unlock a huge employment multiplier to our region.

“I thank the Victorian Government for working closely with us to ensure the delivery of this and other critical projects.”

At a time of great global uncertainty, the Albanese Labor Government continues to keep Australia secure while preparing for the opportunities of tomorrow, with responsible investments in all elements of our national power.

The Albanese Government is taking a whole-of-government approach to securing Australia’s place in the world. This requires the reversal of the long-term reduction in diplomatic resources and increased diplomatic efforts in areas of core national interest. We are delivering on this with further significant investments in the Department of Foreign Affairs and Trade’s capability.

The 2024-25 Budget will ensure the security of our critical diplomatic network over the long term, including our resilience to cyber threats, by investing more than $227.8 million over the forward estimates in upgrading Australia’s communications infrastructure and overseas property.

The Australia-Tuvalu Falepili Union, announced in November 2023, is the biggest step Australia has taken with a Pacific country since the independence of Papua New Guinea over 50 years ago. This Budget will deliver on the climate, security, development and immigration commitments under the Treaty.

In addition, the Government will commit $206.5 million over the forward estimates to respond to broader regional security and resilience needs. These measures will sustain the Government’s investment in our regional relationships in the Pacific.

The Australian Government understands that our prosperity, security and economic future is tied to our region. We continue to implement Invested: Australia’s Southeast Asia Economic Strategy to 2040, including the $505.9 million already committed to deepen ties with the region. This includes a Southeast Asia Investment Financing Facility to provide up to $2 billion in loans, guarantees, equity and insurance to catalyse Australian trade and investment in the region.

Strong, enforceable and effective sanctions are an important element of Australia’s foreign policy. The 2024‑25 Budget provides $26.4 million over the forward estimates to strengthen monitoring and enforcement under Australia’s sanctions framework.

Australia remains resolute in its support for Ukraine’s sovereignty in the face of Russia’s illegal invasion. The Government will sustain Ukraine’s duty-free access into Australia for a further two years, until July 2026, to support Ukraine’s economy.

International trade and investment is critical to the Australian economy, creating jobs and prosperity, and opening up opportunities for Australian businesses to expand and diversify globally. The Government is expanding the successful Australia-India Business Exchange, helping even more Australian businesses benefit from new trade and investment opportunities with India and across South Asia.

The Albanese Government will also deliver a significant investment in the Simplified Trade System to make trade faster, easier and cheaper. This $29.9 million commitment includes a new Digital Trade Accelerator Program to provide businesses with new, secure digital access to important trade data, with enhanced risk assessment so trade flows easier across our borders.

The Budget will also provide $10.9 million to expand the successful Go Global Toolkit, which offers online export information and advice to help Australian businesses expand overseas and make use of our free trade agreements.

The Government has reaffirmed its commitment to ensuring the benefits of trade are shared widely amongst the Australian community, by enhancing the Trade 2040 Taskforce giving business, union and community representatives an active role in the Government’s trade policy agenda.

The Budget will include $2 million for Austrade to provide additional surge support for affected Australian agricultural exporters to re-establish commercial connections in China and continue to diversify into other markets.

Australia’s vibrant tourism sector continues to bounce back as one of our largest export industries. The Government will provide ongoing funding for China’s Approved Destination Status scheme, which enables guided Chinese group travel to Australia operated by Australian providers. This measure will support the ongoing return of Chinese visitors and provide greater certainty to Australia’s tourism sector as it continues to grow into the future.

A Greens-led senate inquiry that resulted in cross-party support for a re-focus on Antarctic science at the AAD has secured its first tangible win, with an additional 120 days of dedicated marine science expeditions over two years funded in the Federal Budget. 

Greens spokesperson for healthy oceans, Senator Peter Whish-Wilson:

“Not only has a Greens-led senate inquiry resulted in cross-party support for a re-focus on Antarctic science at the AAD, but it has now also secured its first tangible win – with an additional 120 days of dedicated marine science expeditions over two years funded in the Federal Budget. 

“One of the inquiry’s key recommendations was that the government immediately fund between 50-100 additional shipping days per year for the Nuyina, while the government prepares a business plan for the purchase of an additional vessel to access the Antarctic.

“These additional shipping days are essential for enabling immediate and critical marine science voyages to the Antarctica and Southern Ocean, and the Greens thank the government for listening to the Senate committee and taking important steps to prioritise science at the AAD. 

“It was very timely for the Senate to scrutinise funding and governance at the AAD and do its job of providing transparency and accountability of government agencies, in addition to recommending changes. 

“More than ever our planet depends on us understanding the Antarctic region, and we can’t do that without scientists on the ice. Increasing the Nuyina’s shipping days will ensure there are no excuses for not having dedicated Antarctic and Southern Ocean science voyages. 

“It is now of critical importance that a business case is developed for acquiring a second vessel to support Australia’s presence in Antarctica, as also recommended by the Committee. 

“Our $500m state of the art icebreaker and floating science platform has been plagued with problems and delays to service since it was commissioned five years ago, and accessing a second ship – especially for logistics support – is a vital next step in ensuring our Antarctic scientists have access to the ice.”

The Greens say Labor’s budget contains barely no new spending for Australia’s woefully underfunded public schools while they pour an additional $5.9 billion over the forward estimates into the overfunded private sector.

The Schools Upgrade Fund for public school infrastructure will also be discontinued, yet Labor will continue to subsidise new construction in fee-charging private schools into the future.

Greens spokesperson on Primary & Secondary Education, Senator Penny Allman-Payne:

“Tipping more public money into a private system bursting at the seams with funding, while 2.6 million kids attend public schools that aren’t able to deliver them the education they deserve, isn’t only unjustifiable, it’s reprehensible.

“100% of the Schooling Resource Standard (SRS) isn’t some utopian aspiration – it’s only enough funding to get 80% of kids in a school up to the minimum standard for reading and numeracy. And Labor won’t even commit to that.

“If Labor is so concerned about inflation and the cost of living, properly funding public schools and reversing the cost-shifting that’s produced soaring out-of-pocket costs for parents and carers, would have been a pretty smart idea.

“We know that Labor is currently in negotiations with the states and territories on new funding arrangements, but the two deals they have announced so far would actually bake in underfunding in WA and the NT.

“Labor has signalled that they will be introducing legislation to lock in the new funding deals. With the Coalition ideologically opposed to public education, the Greens are likely to be in balance of power on any future bills.

“If Labor thinks the Greens will just roll over and let them lock in underfunding for another generation of public school kids they have another thing coming.

“The Greens are calling for 100% of the SRS for every public school in the country at the start of the new national agreement, in January 2025.”

Labor’s third budget has betrayed the queer community with all funding for the 10 Year National Action Plan on LGBTIQA+ Health and Wellbeing disappearing from the budget. 

The National Action Plan was announced in 2022 with an initial budget of $900,000 through May 2024. Despite the Advisory Group meeting for a year, there’s been very little progress made on what the Action Plan will actually contain.

And now, there’s no new money in the budget to keep this vital work going. Is this the end of the National Action Plan Labor was so proud to trumpet two years ago? 

The only tangible budget item for the LGBTIQA+ community is the overdue implementation of the HIV Taskforce Reports — and even that’s too little, too late. 

This Government has chosen a surplus instead of helping people who need it.

Just a fraction of that $9.3 billion surplus would fully fund the Action Plan as well as removing out of pocket expenses for gender affirming care, expanding eligibility for IVF and reproductive health programmes to LGBTIQA+ families, and making sure every community, from capitals to the regions, have access to comprehensive and LGBTIQA+ friendly health services. 

Australian Greens LGBTIQA+ Spokesperson, Stephen Bates

The Government knows that LGBTIQA+ people have worse health and mental health outcomes. So where’s the money? Where’s the money for gender affirming care? Where’s the money for mental health support? 

Anthony Albanese loves a Mardi Gras photo op—but when the time comes to do something concrete, he’s nowhere to be seen. 

I won’t stand by while Labor tries to push the National Action Plan on LGBTIQA+ Health and Wellbeing back in the closet. 

Labor shouldn’t post a profit while refusing to fund essential health services.

Increasing access to PreP medication is welcome, but the queer community needs a lot more than that.

The Greens will always push Labor to take real action to help LGBTIQA+ people. Just “not being Peter Dutton” isn’t going to cut it.

Australian Greens Health Spokesperson, Senator Jordon Steele John

Labor’s budget does nothing to support LGBTIQA+ people in Australia who are struggling to afford and access essential healthcare.

Labor has failed to put their money where their mouth is, and queer people are being left in the lurch as a result.

In this cost of living crisis, it’s essential we support people to get the mental health services they need before they are having a crisis. 

Labor’s budget for mental health care pales in comparison to demand.

This budget does nothing to improve queer people’s access to gender affirming healthcare or bulk billing at their local GP, and it doesn’t support people to access a broader range of mental health professionals through Medicare.

It’s beyond time for the Government to get on board with the Greens plan to get mental health care into Medicare, so our community can access the healthcare they so urgently need

In last night’s budget, the Labor Government removed $14.4 billion from the National Disability Insurance Scheme. This is a deliberate decision that will leave disabled people and the community worse off while the government spends records amount on fossil fuels and weapons. 

Senator Jordon Steele-John, Australian Greens Spokesperson for Disability Rights and Services. 

“In a cost-of-living crisis, the Labor government is choosing to remove $14.4 billion in funding from the NDIS that will lead to disabled people not getting the support they need when they need it.”

“This government have chosen to abandon disabled people, they have abandoned NDIS workers and they are passing the buck to the millions of Australians who undertake informal carer roles.” 

“The ALP have decided that it is more important to fund billions in handouts to weapons manufactures then it is to support our community and the many disabled people that rely on the NDIS to live happy and healthily lives.” 

“It’s clear there is not an essential service that Labor won’t cut to fund nuclear submarines and fossil fuel handouts. This government has betrayed the disability community and they should be ashamed of themselves.” 

Tonight’s Budget confirms that Australians are poorer under Labor.

The Prime Minister promised this would be a “true Labor budget” and tonight we know what this means: a big-spending, big-taxing con job.

Tonight we needed a Budget that:

• Restored our standard of living by finally addressing inflation and cost of living pressures;
• Restored prosperity and created opportunity by supporting small businesses and helping young Australians into a home; and
• Restored budget discipline and honesty by restraining spending, bringing back the fiscal guardrails, a tax to GDP cap and delivering a structural surplus not a windfall surplus.

Labor’s third Budget has failed all of these tests.

Australians will be disappointed by tonight’s Budget. It does nothing to help Australians get ahead and to restore their standard of living.

In this Budget, Labor has added $315 billion of new spending, at a time when we need restraint. That’s $30,000 of extra spending for every Australian household.

After two years in office and three Labor Budgets, the Government is no closer to dealing with its homegrown inflation crisis – which means more pressure on cost of living and interest rates higher for longer.

Under Labor’s Budgets to date, the typical Australian household with a mortgage is more than $35,000 worse off.

Migration is out of control and the Budget papers confirm the unprecedented increase in net overseas migration that will now see 1.67 million new migrants coming to Australia over five years. Labor has fuelled the housing and rental crisis with unprecedented immigration at a time when housing approvals are at an 11 year low.

And at a time when the Budget forecasts unemployment to rise, the Albanese Government is increasing the size of the public service by an astonishing 36,000 additional bureaucrats in Canberra.

The Government has shown it is focussed on the wrong priorities at a time when Australians are doing it tough.

Under Labor, Australians are worse off. Australians know that despite the Treasurer’s spin, prices have increased by nearly 10% with increases for many essential items well beyond that: housing is up 12%, rents are up 12%, insurance up 26%, electricity is up 18%, and gas is up 25%.

In these uncertain economic times, Australians needed a back-to-basics economic agenda.

Until we see a real economic plan from Labor to sustainably tame inflation in a credible way, and grow the economy, then Australians will continue to go backwards under Labor.

The Albanese Labor Government has failed for the third time to address the source of the inflation and cost of living pain being felt by families and businesses right across our country.

Australians deserve better.

This is a responsible and restrained Budget which eases cost of living pressures and invests in a Future Made in Australia.

It provides a tax cut for every taxpayer and new help with energy bills, rent and the cost of medicines.

It builds more homes for Australians, reforms our universities, strengthens Medicare and the care economy, and broadens opportunity in our society.

Global economic uncertainty, high but moderating inflation and higher interest rates are contributing to cost of living pressures and combining to slow the economy.

This Budget strikes the right balance between keeping pressure off inflation, delivering cost of living relief, supporting sustainable economic growth and strengthening public finances.

This Budget forecasts a second surplus in 2023-24, which would be the first time a government has delivered back-to-back surpluses in nearly two decades.

The Budget also forecasts lower debt to GDP and lower inflation, which Treasury forecasts could return to the RBA’s target band by the end of 2024 – earlier than previously expected.

Our responsible Budget responds to the pressures people are under now and lays the foundations for future prosperity by:

• Easing cost of living pressures.
• Building more homes for Australians.
• Investing in a Future Made in Australia and the skills and universities needed to make it a reality.
• Strengthening Medicare and the care economy.
• Broadening opportunity and advancing equality.

Easing cost of living pressures

Many Australians are under pressure, which is why the Government is delivering responsible cost of living relief without adding to inflation. This Budget delivers:

• Tax cuts for all taxpayers, with a bigger tax cut for 84 per cent of taxpayers.
• $300 energy rebates for all households, and $325 rebates for eligible small businesses.
• An increase in the maximum rate of Commonwealth Rent Assistance by a further 10 per cent.
• Cutting $3 billion in student debt for more than three million Australians.
• Cheaper medicines through a new Community Pharmacy Agreement.
• A more competitive economy and fairer prices.

More homes for Australians

The Budget builds more homes for Australians, with more social and affordable housing, more infrastructure and removal of red tape, better transport for more accessible cities and suburbs and increased housing for students:

• $1 billion to get homes built sooner, with funding for states including to provide roads, services and parks, essential for additional housing supply.
• A new five-year National Agreement on Social Housing and Homelessness for states and territories to deliver crisis support and social housing.
• $1 billion directed to support women and children experiencing domestic violence, as well as youth.
• Training more tradies and construction workers to build more homes by boosting construction skills with fee-free TAFE places.
• Expanding the Affordable Housing Bond Aggregator program.
• Bolstering community housing providers to support the first tranche of homes to be delivered under the Housing Australia Future Fund and National Housing Accord.
• Delivering funding for new and existing infrastructure projects.

Investing in a future made in Australia

A Future Made in Australia is about maximising the economic and industrial benefits of the move to net zero and securing our place in a changing global economic and strategic landscape.

The Budget invests $22.7 billion over a decade to build a stronger and more resilient economy powered by clean energy, create more well-paid jobs and facilitate the private investment we need to make the most of this generational opportunity.

It is a core part of our broader growth plan in this Budget, which includes a focus on:

• Attracting and enabling private investment.
• Making our country a renewable energy superpower.
• Strengthening our defence capabilities and economic security.
• Supporting small businesses to grasp the opportunities of our transforming economy.
• And expanding and reforming tertiary education for a more skilled workforce.

Strengthening Medicare and the care economy

The Budget invests in Medicare and better health outcomes, aged care and disability services, delivers essential services, and supports workers:

• 29 more Medicare Urgent Care Clinics.
• Free access to mental health care for more Australians.
• An additional 24,100 home care packages.
• Essential funding for in person and online service delivery.
• Getting the NDIS back on track.
• Provisioning for wage increases for aged care and early childhood education and care workers.

It also delivers better outcomes for women and Aboriginal and Torres Strait Islander Australians, including through super on Paid Parental Leave, support for victim-survivors of domestic violence, and improved education, jobs, housing and essential services for First Nations people.

Continuing our record of responsible economic management

Through responsible economic management, the Budget keeps pressure off inflation and strengthens public finances over time.

Following a surplus of $22.1 billion in 2022-23, the Budget is forecasting a surplus of $9.3 billion in 2023-24.

Fiscal pressures intensify after that, with a deficit of $28.3 billion forecast for 2024-25, but progress has been made in strengthening the Budget over time.

This Budget:

• Returns 96 per cent of revenue upgrades to the Budget in 2023-24 while inflation is above the band, with 82 per cent of revenue upgrades returned since coming to government over the forward estimates.
• Identifies $27.9 billion in savings and reprioritisations, taking the total to $77.4 billion since coming to government.
• Limits real spending growth to an average of 1.4 per cent per year over the period since we came to government to 2027-28 – less than half the average of the last 30 years and around a third of our predecessors’.
• Improves the Budget position by a forecast $214.7 billion over the six years to 2027-28 compared to the time of the election.
• Reduces debt as a share of the economy, with gross debt projected to peak at 35.2 per cent of GDP, almost 10 percentage points lower than at the time of the election.
• Improves Australia’s debt position with gross debt $152 billion lower in this financial year than was forecast at the time of the election.
• Avoids $80 billion in interest costs over the decade due to the improved budget position compared to what we inherited at the election.

The Albanese Government is delivering a responsible budget that provides cost of living help now, builds a stronger and more resilient economy and invests in a future made in Australia.

Helping Australians with the cost of living is our Government’s number one priority.

This Budget delivers a tax cut for every taxpayer, provides new energy bill relief for every household, cuts student debt and increases rent assistance for nearly 1 million households.

The Albanese Labor Government knows many Australians are doing it tough and is focused on easing those pressures.

Our Budget centrepiece is a tax cut for every one of the nation’s 13.6 million taxpayers, which will begin flowing in less than seven weeks.

These cost-of-living measures have been carefully designed to take pressure off Australians doing it tough and to directly reduce inflation.

For a family on a combined income of around $130,000 – with one partner earning $80,000 and the other $50,000 – their combined tax cut will be over $2,600 a year or about $50 a week. They will also be eligible for $300 in energy bill relief in 2024–25.

Energy bill relief and the increase to Commonwealth Rent Assistance are expected to directly reduce inflation by half of a percentage point in 2024–25 and not expected to add to broader inflationary pressures.

This Budget builds on the ongoing relief provided in our first two budgets, which includes making it easier to see a bulk billing doctor, making medicines cheaper, cheaper child care and higher JobSeeker and other working age and student payments.

Cost-of-living help in the 2024-25 Budget:

• All 13.6 million Australian taxpayers will get a tax cut, with an average cut of $1,888 a year or $36 a week.
• $3.5 billion in energy bill relief for all Australian households and one million small businesses.
• $1.9 billion to increase Commonwealth Rent Assistance by a further 10 per cent, benefiting nearly 1 million households.
• Cheaper medicines as part of the up to $3 billion agreement with community pharmacies.
• Waiving $3 billion in student debt for more than 3 million Australians to make student loans fairer.
• Getting a fairer deal for consumers at the supermarket checkout.
• $1.1 billion to pay superannuation on government-funded Paid Parental Leave.
• $138 million to boost funding for emergency and food relief and financial support. services
• Provisioning for higher wages for aged care and child care workers.
• Extending the freeze on deeming rates for 876,000 income support recipients.

Our responsible policies are helping address the cost of living pressures around the kitchen table and around our economy.

This Budget is not the beginning of our action on cost of living and it won’t be the end.

The Albanese Labor Government’s third Budget is designed to see people through these difficult times, stare down the inflation challenge and set our country up for the future.