14 May The 2024-25 Budget
Key Points
- The budget this year is expected to show a surplus of $9.3bn thanks to a continuing revenue windfall, but slip back into bigger deficits from 2024-25.
- Key measures include broader cost-of-living support & “Future Made in Australia” measures.
- Significant extra spending risks adding to inflation.
- Structural budget deficits remain in the medium term as the revenue windfall fades and spending remains high. Bigger government looks increasingly locked in.
