Our Plan for a Sustainable Budget
Our economic and fiscal strategy will grow the economy to ensure Australia is able to respond to economic shocksAustralia is facing one of the most challenging times in our history, with increasing global economic and geopolitical uncertainty.
To repair our fiscal buffers against global shocks and to protect our AAA credit rating, the Coalition’s election commitments will:
- Improve the budget bottom line by almost $14 billion over four years; and
- Reduce gross debt by over $40 billion over four years.
The Coalition’s economic plan will deliver these important improvements while providing vital immediate relief to family budgets, in contrast to Labor’s inadequate ‘70 cents a day in 15 months’ time’.
After three years of Labor, household budgets are decimated, and the Commonwealth Budget has gone backwards.
Labor has shown they are not up to the task of managing the economy through these challenging times.
After just three years of Anthony Albanese’s weak leadership and wrong priorities our economy is less resilient, and Australians are poorer.
Australian families have endured unprecedented rises in prices and a collapse in their living standards from Labor’s homegrown cost of living crisis.
Under Labor, Australia has experienced the longest household recession on record, with GDP per capita going backwards for 21 months.
At the same time as household budgets have collapsed, Labor has weakened the Commonwealth’s Budget, leaving Australia less prepared to respond to future economic challenges.
Out of control government spending puts increased pressure on prices and interest rates.
Worse, Labor has saved nothing for the next generation and signed Australians up to a future of higher debt, which can only mean higher taxes or fewer services.
Australia needs strong economic leadership.
A Dutton Coalition Government will restore household budgets by tackling the cost of living, and repair the Commonwealth Budget by reducing gross debt and delivering a better budget bottom line over the forward estimates.
We will restore and strengthen budget guardrails, save for future generations, prioritise productivity, and support a strong private sector to grow our economy and repair the budget.
The Coalition’s strong budget management means we can deliver more cost of living and tax relief for you and your family, fund essential healthcare and other services, rebuild our nation’s defences, and back our small businesses to set our economy up for growth.
The alternative is three more years of Labor: a decade of deficits, $1.2 trillion of debt, and no plan to pay for it. That can only mean higher taxes, higher debt, and higher inflation.
A Dutton Coalition Government will restore responsible budget management to deliver a stronger economy with low inflation and get Australia back on track. The Coalition will:
- Return the Budget to balance and deliver sustainable structural budget surpluses as soon as possible by adopting a stronger economic and fiscal strategy. We will:
- Grow the economy faster than spending to reduce spending as a share of the economy from the current 40 year high.
- Adopt a productivity target of 1.5 per cent a year on average and restore productivity growth to be the primary driver of growth for the Australian economy.
- Restore a tax-to-GDP limit of 23.9 per cent of GDP.
- Direct spending to productive infrastructure to unlock greater and more efficient economic activity.
- Reduce gross and net debt as a share of the economy.
- Use the Budget balance sheet to support productivity-enhancing investments that build a stronger economy, support private investment and create jobs.
- Grow our economy by boosting investment, fixing our energy market, and backing small business.
- Provide lower, simpler and fairer taxes.
- Guarantee essential services, lower the cost of living and keep Australians safe.
Our Plan
Repair the budget and get the economy back on track
When it comes to the economy, Labor has failed.
From groceries, to rents, to energy – the price of everything has gone up.
Under Labor, Australia has recorded the longest per-capita recession on record – 21 months – and suffered the biggest fall in living standards in the developed world.
At the same time, Labor has put our economic security at risk.
Labor’s reckless spending means there are no fiscal buffers if Australia faces an economic shock. The world’s largest ratings agency, S&P Global, is warning that Australia is at risk of losing its AAA credit rating under Labor.
For too many young Australians, the dream of home ownership has been slipping away.
And last year, Australia had the highest number of small business insolvencies on record.
We can’t afford three more years of Labor.
The Coalition has a plan to get the economy back on track.
A sustainable budget and strong economy
The Coalition Government will deliver a sustainable, stronger budget with lower debt.
Labor benefitted from around $400 billion in windfall revenue increases, yet has still forecast 10 years of deficits and higher debt. They have abandoned budget discipline and added $425 billion in spending – an additional $40,000 for every household.
This record spending has done nothing to improve productivity, the key driver of higher living standards. Under Labor, productivity growth and living standards have faced an unprecedented collapse without parallel anywhere in the developed world.
By reining in Labor’s wasteful spending, the Coalition will fund substantial election commitments to support household budgets while repairing the budget bottom line.
The Coalition will sensibly reduce the Australian Public Service (excluding military and reserves) by 41,000 over five years, bringing it back to a sustainable level, while protecting frontline services delivery and national security positions. This will be done methodically, through a hiring freeze and natural attrition.
We will reduce spending as a share of the economy and ensure new spending is more than offset by reductions in spending elsewhere, while guaranteeing essential services including healthcare.
The Coalition will establish two nation building funds within the Future Fund to manage windfall revenue responsibly.
Our Future Generations Fund and Regional Australia Future Fund will lock in the benefits of windfall revenue and use it to help to pay down debt, invest in nation building initiatives, and drive growth in the regions. The two funds will be seeded from 80 per cent of any positive windfall receipts variations each year. This will ensure that governments live within their means, rather than relying on windfall revenue.
Our economic and fiscal strategy will grow the economy to ensure Australia is able to respond to economic shocks. We will prioritise:
- Sustainable, private sector-led growth and job creation.
- Managing population growth to align with housing supply, with targeted migration settings that work in the national interest.
- Ongoing structural reforms to boost economic growth and productivity as the key driver of Australians’ living standards.
Productivity must be a priority for any government, but it is now more important than ever. The Albanese Labor Government has failed to achieve even its inadequate productivity growth target of 1.2 per cent a year – with productivity down by an unprecedented
5.7 per cent.
The Coalition has a comprehensive plan to get productivity moving again, grow our economy, and improve the standard of living for all Australians. We will:
- Boost investment by establishing Investment Australia and reforming financial markets – positioning Australia as a leading financial centre in our region where it is easier to start a business, purchase a home, access insurance, and get financial advice.
- Rebuild small business by creating 350,000 new small businesses through lower taxes, easier access to finance, affordable energy, more flexible employment arrangements, and a level playing field – backing local entrepreneurs to build Australia’s future.
- Cut red tape in key sectors by fixing broken energy and housing markets, restoring manufacturing, and bringing down the cost of construction.
Lower, simpler, fairer taxes
Labor has relied on hard-working Australians to pick up the tab for their record spending with higher taxes. The average taxpayer in this year alone is paying $3,500 more in tax compared to the last election.
The Albanese Government abolished the tax speed limit in place under the previous Coalition Government because Labor believes in higher taxes.
Labor sees the tax system as a blank cheque to fund excessive spending, which fuels higher inflation that reduces living standards and keeps interest rates higher for longer.
We will put much needed money back in the hands of Australian taxpayers with our temporary and targeted Cost of Living Tax Offset, which will see more than 10 million Australians, or about 85 per cent of taxpayers, receive an offset of up to $1,200.
We will immediately halve the fuel excise, saving drivers around $14 a tank every time they fill up, putting around $1,500 back in the hands of a family with two cars over 12 months.
In addition, a Dutton Coalition Government will:
- Deliver tax cuts for Australian businesses to invest, including making the Instant Asset Write Off permanent for 98 per cent of businesses and increasing the asset value limit to $30,000.
- Scrap Labor’s plan to tax unrealised gains and the damaging family car and ute tax.
- Kickstart new Australian businesses by reducing the tax on their first $200,000 of taxable income through the Entrepreneurship Accelerator.
- Guarantee no changes to negative gearing or the Capital Gains Tax discount, both of which are under threat from a Labor-Greens-Teals minority government.
- Introduce a First Home Buyer Mortgage Deductibility Scheme to allow first home buyers to claim a tax deduction on mortgage interest payments for new build homes.
Overall, these commitments ensure that, over the forward estimates period, taxes on families and small businesses will be lower under the Coalition.
The starting point of any further structural tax reform must be to stop the reckless spending and the waste we have seen from this Labor Government. We aspire to a tax system where tax brackets are indexed and bracket creep is a thing of the past, and we will deliver further reductions in taxes for families as soon as it is responsible to do so.
From government, the Coalition will undertake structural tax reform to address bracket creep as we get the Budget back under control to ensure we keep taxes at or below 23.9 per cent of GDP. This will place a guardrail on government spending and ensure higher taxes do not hold Australians back and stifle investment and economic growth.
Guarantee essential services, lower the cost of living and keep Australians safe
The Coalition will deliver a stronger economy with low inflation, which will guarantee the essential services that Australians rely on.
We have a track record of delivering record levels of funding for health, aged care, education and disability support through strong economic management – and our election policies maintain this record, including providing a bigger increase in healthcare funding than Labor.
Under Labor, our health system is facing significant challenges. The GP bulk billing rate has dropped 11 per cent and 372,000 Australians are going without the affordable mental health support they need.
A Dutton Coalition Government will guarantee the growing funding of Medicare. We will ensure higher quality healthcare by funding more GPs to address current shortages, and increasing bulk billing and the number of Medicare-subsidised mental health sessions.
Labor’s reckless energy policy is driving up inflation through higher power prices, with electricity and gas prices up more than 30 per cent each since Labor came to office.
We will deliver cheaper energy with a balanced energy mix that will have more renewables and more gas, and in seven locations will replace retiring coal plants with zero-emissions nuclear energy.
Under Labor, the aspiration of home ownership has become out of reach. To deliver affordable homes, we will fund critical infrastructure, boost the number of local workers in construction trades, reduce Labor’s record migration to sustainable levels so housing can keep up, assist first home buyers, and prohibit foreign investors and temporary residents from purchasing existing housing for two years.
Australia is facing the most complex and serious strategic circumstances since the end of the Second World War. The conflicts in Europe and the Middle East have reminded us that geographically remote conflicts have global consequences, and Australia is not immune.
The Coalition will provide more than $21 billion in additional funding to Defence over five years, taking Defence spending as a share of GDP to 2.5 per cent within five years. Within a decade, we will lift Defence spending to 3 per cent of GDP – well ahead of Labor’s projected target of around 2.3 per cent.
The Choice
Under Labor, our economy is weak, inflation and interest rates have stayed too high for too long, housing is unaffordable, and our country is less safe.
Australians are suffering through the worst cost of living crisis in a generation.
The fact is, Labor can’t manage money and they can’t be trusted with the economy. Labor’s latest Budget, delivered just five weeks ago, projected ten straight deficits through to the mid-2030s, and over $1.2 trillion of debt by 2028-29.
Despite Labor’s record spending, which is fuelling inflation, they have no economic plan.
Labor has no plan to end the decline in living standards, grow the economy, repair the Budget, lower energy prices or get migration under control.
Under Labor’s reckless renewables-only energy policy, power prices keep going up, further fuelling inflation.
For too many young people, housing has become unaffordable, placing the dream of home ownership out of reach. Labor brought one million migrants to Australia in just its first two years, while just 350,000 homes were constructed in that time.
Australia is heading in the wrong direction. When it comes to the economy, inflation, energy and housing, Labor has failed.
Mr Albanese is too weak – and Labor is too incompetent – to fix these problems.
Australians deserve better. They deserve a better standard of living and to have confidence they can afford the essentials in life.
A Dutton Coalition Government will get Australia back on track and build a stronger economy with a back-to-basics economic plan.
Our plan will deliver a stronger economy with low inflation, cheaper energy and affordable homes in safer communities.
The Coalition will reduce wasteful spending, deliver lower inflation and repair the Budget so Australia can face the challenges ahead.
We will deliver lower, simpler, fairer taxes to ensure businesses are not held back and Australians can keep more of what they earn.
We will ensure a balanced energy mix with cheaper energy for households and businesses, and we will take the pressure off interest rates and rents and restore the dream of home ownership.
The Australian people have a choice between the Albanese Labor Government that has delivered a weak economy, where inflation and interest rates are higher and housing is unaffordable, and a Dutton Coalition Government that will deliver a stronger economy with low inflation and affordable homes in safe communities.
| COALITION | LABOR |
|---|---|
| Inflation Reining in wasteful and reckless spending to get inflation under control, and work with the RBA, not against it, to put downward pressure on interest rates. | Inflation Core inflation averaged higher than every major advanced economy and more than double that under the Coalition. |
| Interest rates With low inflation, we will reduce pressure on interest rates. | Interest rates Higher for longer, with 12 rate increases and only 1 decrease. |
| Productivity Adopt a productivity growth target of 1.5 per cent per annum on average. | Productivity Productivity has collapsed by 5.7 per under Labor and they have no plan to fix this. |
| Budget Repair the Budget to deliver sustainable surpluses and lower debt as soon as possible. | Budget 10 years of deficits. |
| Budget spending Restore budget discipline including ensuring new spending measures are more than offset by reductions in spending elsewhere within the Budget. | Budget spending $425 billion in new spending, $40,000 for every household. Labor has spent more than they have saved in every Budget update. |
| Windfall revenue Establish two nation-building funds to manage windfall revenue responsibly. | Windfall revenue Labor has blown $400 billion in windfall revenue. |
| Debt Stabilise and then reduce gross and net debt as a share of the economy. | Debt Over $1.2 trillion in debt for the first time ever. |
| Small business taxes Permanently increase the Instant Asset Write Off to $30,000; introduce an Entrepreneurship Accelerator tax offset, Tech Booster, and two-year Business-related Meals Deduction. | Small business taxes Temporary, smaller ($20,000) Instant Asset Write Off expires in mid-2026. |
| Income taxes Cost of Living Tax Offset of up to $1,200 for over 10 million taxpayers. | Income taxes $3,500 higher on average compared to the last election. Labor’s hoax tax cuts are worth 70c a day in 15 months’ time. |
| Fuel tax Halve the fuel excise immediately, saving 25 cents a litre for 12 months. | Fuel tax Fuel will be 25 cents a litre more expensive than under the Coalition. |
| Energy prices Lower prices driven by a balanced energy mix including renewables, more gas, more storage, and zero-emissions nuclear energy. | Energy prices Promised $275 power bill cuts, but they increased by up to $1,300 compared to what Labor was promised. |
| First Home Buyers Allow first home buyers to deduct interest payments on new builds. Expand the Coalition’s successful Home Guarantee Scheme, with increased income caps. | First Home Buyers Fewer affordable homes available; allow millionaires to buy homes with a 5 per cent deposit. |
| Medicare Funding Provide $9.4 billion in Medicare funding, including restoring the number of bulk billed psychology sessions from 10 to 20. | Medicare Funding Slashed the number of bulk billed psychology sessions from 20 to 10 upon coming to government. |
| Defence Funding Increase defence spending by over $21 billion to reach defence spending of 2.5 per cent of GDP within five years. | Defence Funding More than $80 billion in cuts and delays. |
Coalition Election Costings
All the Coalition’s election commitments are fully costed and, in aggregate, contribute to budget repair over the forward estimates period.
Overall impact on Underlying Cash Balance
Overall, our policy commitments will improve the Budget bottom line outlined in the 2025 Pre‑election Economic and Fiscal Outlook (PEFO) by $13.9 billion over the four years to 2028-29.
| Reconciliation of Coalition Election Commitments ($m) | 2025-26 | 2026-27 | 2027-28 | 2028-29 | Total |
|---|---|---|---|---|---|
| Total impact on underlying cash (before public debt interest) | -5,663.8 | -2,434.3 | 8,891.7 | 10,784.2 | 11,577.9 |
| Public debt interest impact | 30.4 | 183.2 | 650.8 | 1,408.0 | 2,272.4 |
| Total impact on underlying cash | -5,633.4 | -2,251.0 | 9,542.5 | 12,192.2 | 13,850.3 |
Managing the Commonwealth’s balance sheet
Labor has hidden tens of billions of dollars in spending in off-budget funds, which have failed to deliver tangible policy outcomes while at the same time undermining Australia’s fiscal position. The IMF has warned these funds are contributing to inflation. S&P Global, the world’s largest rating agency, has also warned these funds are hiding Australia’s fiscal position and borrowing needs.
The Coalition will wind up Labor’s ineffective off-budget funds, including:
- The Housing Australia Future Fund;
- The Rewiring the Nation Fund; and
- The National Reconstruction Fund (and abolishing the associated National Reconstruction Fund Corporation).
In addition, the Coalition will not proceed with Labor’s one-off decision to forgive a portion of existing student debt, nor its scheme to allow the Commonwealth to own a portion of Australians’ homes.
The Coalition will redirect part of the balance sheet improvements from these decisions towards other priorities. These include:
- Establishing the Regional Australia Future Fund, which will be seeded with $5 billion from the Rewiring the Nation Fund.
- Creating the Critical Gas Infrastructure Fund.
- Providing equity for the construction of new nuclear power plants to replace retiring coal-fired power plants.
Financing reliable zero-emissions nuclear technology
On coming to government, the Coalition will lift the moratorium on nuclear technology and establish a civil nuclear program in Australia. Zero-emissions nuclear plants will be owned by the Federal Government and we will form partnerships with the most experienced nuclear companies in the world to develop and operate the plants. Our zero-emissions nuclear energy program will consist of two phases: starting with two establishment projects in the mid 2030s followed by a buildout of projects though to 2050. To deliver our plan, the Coalition will provide $36.4 billion in equity investments through to 2035, rising to a total of $118.2 billion through to 2050. The impact of these equity payments is fully reflected in the Coalition’s publicly released modelling and costings.
The Coalition will respect existing contracts the Commonwealth has entered into and has allowed for this in calculating its balance sheet improvements.
By managing the Commonwealth’s balance sheet more effectively while still delivering on its commitments, the Coalition will reduce gross debt by $40.8 billion over the forward estimates, which will assist in budget repair.
| Reconciliation of Coalition Election Commitments ($m) | 2025-26 | 2026-27 | 2027-28 | 2028-29 | Total |
|---|---|---|---|---|---|
| Impact on gross debt | 3,401.5 | -6,775.7 | -18,706.3 | -18,759.0 | -40,839.6 |
Budget impact of Coalition Election commitments
The underlying cash balance impact of the Coalition’s policy commitments for the 2025 election are set out below.
| A stronger economy with lower inflation | 2025-26 ($m) | 2026-27 ($m) | 2027-28 ($m) | 2028-29 ($m) |
|---|---|---|---|---|
| Abolish family car and ute tax | 12.6 | 90.2 | 236.2 | 251.3 |
| Accurate labelling for plant-based meat products (a) | 0.0 | 0.0 | 0.0 | 0.0 |
| Adjust Fuel Excise – 25c per litre reduction | -7,413.2 | 1,479.2 | 0.0 | 0.0 |
| Annualisation of General Social Survey for Measuring what Matters – reverse | 3.4 | 3.6 | 3.6 | 3.6 |
| Australian Made Export Initiative | -5.0 | 0.0 | 0.0 | 0.0 |
| Australian Small Business and Family Enterprise Ombudsman – additional resourcing | -8.0 | -1.5 | -1.3 | -1.3 |
| Australian Tertiary Education Commission – not proceeding | 5.4 | 6.0 | 6.0 | 5.6 |
| Cairns Water Security Project – Stage 1 (a) | 0.0 | 0.0 | 0.0 | 0.0 |
| Cease duplicative research activities of the Climate Change Authority | 2.8 | 2.8 | 2.9 | 2.9 |
| Cease funding to the Environmental Defender’s Office | 0.0 | 0.0 | 2.2 | 2.2 |
| Cease undersubscribed COVID-era securitisation measures | -61.3 | 111.7 | 115.8 | 123.0 |
| Cost of Living Tax Offset | -400.0 | -9,100.0 | -500.0 | 0.0 |
| Country of Origin labelling – supporting the seafood industry (a) | 0.0 | 0.0 | 0.0 | 0.0 |
| Country of Origin labelling scheme for timber – introduction (a) | 0.0 | 0.0 | 0.0 | 0.0 |
| Critical minerals production tax credits – do not proceed | 0.0 | 0.0 | 277.8 | 913.1 |
| Department of Infrastructure, Transport, Regional Development, Communications and the Arts – Net Zero Unit and maritime strategic fleet – reprioritisation | 4.1 | 8.4 | 8.5 | 8.6 |
| Develop the Greater South East Irrigation Scheme – Tasmania (a) | 0.0 | 0.0 | 0.0 | 0.0 |
| Early‑Stage Venture Capital cap and Venture Capital cap – increase and index (e) | * | * | * | * |
| Entrepreneurship Accelerator tax incentive | -4.1 | -68.9 | -70.0 | -70.6 |
| Establishing Investment Australia (a) | 0.0 | 0.0 | 0.0 | 0.0 |
| Export growth grants to tariff affected sectors | -12.5 | -12.5 | -12.5 | -12.5 |
| Future Made in Australia – Attracting Investments in Key Industries – redirect | 11.0 | 3.0 | 3.0 | 3.1 |
| Grants in Attorney General’s and Foreign Affairs and Trade portfolios – prioritise | 20.2 | 38.7 | 37.9 | 38.6 |
| Green Aluminium Production Credit – do not proceed | 2.4 | 1.4 | 2.3 | 1.5 |
| Green Hydrogen Production Tax Incentives – reverse | 4.9 | 112.6 | 479.5 | 927.4 |
| Instant asset write-off – increase cap to $30,000 and make permanent | 0.0 | -110.0 | -820.0 | -907.0 |
| International Climate Step Up – redirect | 12.2 | 8.1 | 7.6 | 0.0 |
| Junior Minerals Exploration Incentive | 0.0 | -3.1 | -4.2 | -4.2 |
| Landmass and territorial waters lock up – reverse | 51.4 | 52.0 | 50.8 | 57.7 |
| Meat – Poultry – contractual fairness | -0.5 | -0.5 | -0.5 | -0.5 |
| National Food Security Strategy (b) | 3.5 | 0.0 | 0.0 | 0.0 |
| National Organic Standard | -0.4 | -0.4 | -0.4 | -0.4 |
| National Reconstruction Fund and National Reconstruction Fund Corporation – unwind and close (c) | 10.0 | -51.0 | -155.0 | -304.0 |
| Nature Positive Plan and Environmental Protection Australia – reversal | 33.5 | 22.2 | 4.5 | 4.5 |
| Net Zero Economy Agency and related measures – unwind | 127.9 | 114.8 | 95.9 | 89.1 |
| New agricultural visa | -4.5 | 40.5 | 42.2 | 44.2 |
| Northam Re-use Water Scheme – Western Australia – support | -2.0 | -2.0 | -3.0 | -3.0 |
| Passenger Movement Charge – indexation | 37.0 | 71.0 | 106.0 | 147.0 |
| Personal Income Tax – amendments | 0.0 | 3,000.0 | 6,700.0 | 7,400.0 |
| Prioritise Agricultural Programs – Renewed Australian Animal Welfare Strategy | 1.3 | 1.3 | 0.0 | 0.0 |
| Productivity Fund payments – redirection | 81.9 | 81.9 | 81.8 | 81.8 |
| Real-time vector surveillance capability to detect Lumpy Skin Disease technology – pilot (a) | 0.0 | 0.0 | 0.0 | 0.0 |
| Red Imported Fire Ant National Response – independent review | -3.0 | 0.0 | 0.0 | 0.0 |
| Reducing the APS to a sustainable level over time through natural attrition | 1,696.8 | 3,696.9 | 5,200.1 | 6,654.4 |
| Regional Agricultural Shows Development Grant program (a) | 0.0 | 0.0 | 0.0 | 0.0 |
| Regional Tourism Grants | -6.0 | -2.3 | -2.0 | 0.0 |
| Regulation and taxation of vaping products | 621.6 | 777.2 | 1,018.5 | 1,178.5 |
| Reinstate the Native Title Respondent and Native Title Officer Schemes | -2.0 | -2.1 | -2.1 | -2.1 |
| Repeal Ban on Live Sheep Export by sea | 31.0 | 29.3 | 15.7 | 1.7 |
| Re-phase additional Australian Antarctic Program funding | 3.6 | 14.2 | 12.2 | 12.9 |
| Replace biosecurity protection levy with import container levy | -11.4 | -16.6 | -1.0 | -0.9 |
| Review of Operation LUNAR and related biosecurity activities (a) | 0.0 | 0.0 | 0.0 | 0.0 |
| Review of Pacific Australia Labour Mobility Scheme (a) | 0.0 | 0.0 | 0.0 | 0.0 |
| Rural Financial Counselling Service – additional funding | -1.8 | 0.0 | 0.0 | 0.0 |
| Singleton Water Security project – support | -3.0 | -3.0 | -3.0 | 0.0 |
| Small business tax deductibility for business-related meal expenses – 2 years | -79.9 | -119.5 | -44.0 | 0.0 |
| Student HELP changes – not proceeding | 243.3 | 244.2 | 257.1 | 280.0 |
| Student visa work hours – increase | 0.0 | 127.3 | 142.5 | 147.2 |
| Tasmanian Freight Equalisation Scheme – additional resourcing | -65.0 | 0.0 | 0.0 | 0.0 |
| Tax breaks for Electric Vehicle – reverse | 285.0 | 623.0 | 945.0 | 1,319.0 |
| Tax on unrealised capital gains – do not proceed | -304.0 | -609.2 | -2,136.6 | -2,437.5 |
| Tech Booster | -3.0 | -38.0 | -56.4 | -22.6 |
| Timber Manufacturing Expansion Program | -13.4 | -13.3 | -13.3 | 0.0 |
| Cheaper and more reliable energy | 2025-26 ($m) | 2026-27 ($m) | 2027-28 ($m) | 2028-29 ($m) |
|---|---|---|---|---|
| Additional funding for Department of Climate Change, Energy, the Environment and Water – redirect | 38.1 | 9.5 | 0.0 | 0.0 |
| Affordable Energy Australia – establishment and capitalisation | -30.4 | -47.0 | -70.0 | 0.0 |
| Australian Radiation Protection and Nuclear Safety Agency – boost capabilities | -23.2 | -29.9 | -20.5 | -20.1 |
| Community engagement on zero emissions nuclear technology | -29.6 | -16.0 | -27.3 | -14.6 |
| Daintree Renewable Energy Microgrid Project – support | -6.4 | -6.4 | -6.4 | 0.0 |
| Establishing the Critical Gas Infrastructure Fund (d) | 1.6 | 4.1 | 7.8 | 11.1 |
| Home Batteries Program – redirect | 700.0 | 600.0 | 500.0 | 500.0 |
| Nuclear Energy Coordinating Authority and National Nuclear Training Facility and fuel laboratory | -11.2 | -12.8 | -21.6 | -19.6 |
| Restoring ARENA to its original function | 167.6 | 271.7 | 589.7 | 694.7 |
| Rewiring the Nation Fund – unwind and redirect (c) | -213.0 | -278.0 | -403.0 | -439.0 |
| Strategic Basin Plan | -58.9 | -18.6 | -36.3 | -36.3 |
| Affordable homes, better skills, and reliable infrastructure | 2025-26 ($m) | 2026-27 ($m) | 2027-28 ($m) | 2028-29 ($m) |
|---|---|---|---|---|
| Agricultural and Mining Roads program | -150.0 | -150.0 | -150.0 | -150.0 |
| Better transport and telecommunications infrastructure | -72.1 | -360.5 | -518.1 | -333.9 |
| Build to Rent Tax Changes – reverse | 10.0 | 20.0 | 40.0 | 60.0 |
| Building Better Regions Fund | -125.0 | -125.0 | 0.0 | 0.0 |
| Canberra entertainment infrastructure – redirect | 10.0 | 25.0 | 35.0 | 32.0 |
| Developing our Cities White Paper (a) | 0.0 | 0.0 | 0.0 | 0.0 |
| Establishing 12 new Australian Technical Colleges | -125.8 | -130.2 | -2.4 | -2.4 |
| Fee Free TAFE – redirect | 0.0 | 83.0 | 171.0 | 177.0 |
| First Home Buyer Mortgage Tax Deductibility Scheme | -7.0 | -132.0 | -402.0 | -710.0 |
| Help to Buy Scheme – reverse | 3.7 | 3.7 | 2.5 | 1.3 |
| Home Guarantee Scheme – expanding access | 0.0 | -0.3 | -4.2 | -15.9 |
| Housing Australia Future Fund – unwind | 90.0 | 174.0 | 155.0 | 155.0 |
| Housing Infrastructure Program | -343.8 | -687.5 | -687.5 | -687.5 |
| Increase selected non-student visa charges | 131.0 | 141.0 | 152.0 | 155.0 |
| Local Roads and Community Infrastructure program | -400.0 | -400.0 | -200.0 | 0.0 |
| Modify Commonwealth Prac Payments | 113.0 | 133.0 | 153.0 | 157.0 |
| New Homes Bonus – reverse | 0.0 | 0.0 | 0.0 | 0.0 |
| New overseas student commencements – reduction | -83.0 | -95.0 | -102.0 | -109.0 |
| Newly arrived migrant waiting period – rationalise to 5 years | 59.3 | 357.0 | 878.9 | 1,491.7 |
| Permanent migration program – reduction | -410.0 | -880.0 | -1,300.0 | -1,620.0 |
| Queensland Beef Corridors | -50.0 | -16.7 | -16.7 | -16.7 |
| Rail projects – increase and rephase | 364.0 | 651.2 | 850.0 | 516.2 |
| Regional Airports Program | -10.2 | -35.0 | -43.5 | -44.5 |
| Restore humanitarian program intake to long term average | 159.5 | 315.7 | 446.5 | 554.1 |
| Restoring the Australian Building and Construction Commission | -35.8 | -20.7 | -20.9 | -21.2 |
| Roads to Recovery – additional investment | -200.0 | -50.0 | 0.0 | 0.0 |
| Safer Local Roads and Infrastructure Program – redirect | 200.0 | 200.0 | 205.0 | 200.0 |
| Suburban Rail Loop – not proceeding | 800.0 | 800.0 | 600.0 | 0.0 |
| Super Home Buyer Scheme | -130.0 | -98.0 | -140.0 | -169.0 |
| Supporting local community infrastructure projects | -308.8 | -329.9 | -294.0 | -241.7 |
| Tradie and Trainee Booster: Apprentice and Trainee Hiring Incentive | -30.0 | -144.0 | -182.0 | -149.0 |
| Two tiered Student Visa application charge | 758.0 | 780.0 | 790.0 | 764.9 |
| Two year ban on foreign investors and temporary residents buying existing homes (a) | 0.0 | 0.0 | 0.0 | 0.0 |
| A stronger Australia with safe, sustainable, and connected communities | 2025-26 ($m) | 2026-27 ($m) | 2027-28 ($m) | 2028-29 ($m) |
|---|---|---|---|---|
| 80th Anniversary of the end of World War II grants program | -10.2 | -12.0 | 0.0 | 0.0 |
| Adass Israel Synagogue Rebuild (f) | -3.8 | 0.0 | 0.0 | 0.0 |
| Alannah and Madeline Foundation – support | 0.0 | -2.0 | -2.0 | -2.0 |
| Albany National Anzac Centre – Commonwealth support | -1.5 | -1.5 | -1.5 | -1.5 |
| Ambassador for First Nations People – reverse | 0.6 | 0.0 | 0.0 | 0.0 |
| Anti-Semitism specialist at National Student Ombudsman (a) | 0.0 | 0.0 | 0.0 | 0.0 |
| Anti-Semitism Taskforce | -5.7 | -7.4 | -7.5 | -8.0 |
| AUKUS National Chair (g) | 0.0 | 0.0 | 0.0 | 0.0 |
| Australian Centre to Counter Child Exploitation – double funding | -40.7 | -41.5 | -42.6 | -43.9 |
| Australian Recycling Accreditation Program | -0.6 | 0.0 | 0.0 | 0.0 |
| Battery and e-waste disposal | -48.4 | -0.4 | -0.4 | -0.4 |
| Boosting perpetrator responses including electronic monitoring and ankle bracelets on high-risk perpetrators | -3.0 | -3.0 | -2.6 | 0.0 |
| Cashless Debit Card – trial sites | -27.1 | -20.9 | -20.9 | -21.6 |
| Chinese Museum of Queensland – support | -0.2 | 0.0 | 0.0 | 0.0 |
| Clean4shore program | -0.2 | -0.2 | -0.2 | 0.0 |
| Commonwealth systems changes to address financial abuse and coercion (a) | 0.0 | 0.0 | 0.0 | 0.0 |
| Community Language Schools – support | -6.3 | -6.3 | -6.3 | -6.3 |
| Conservation Volunteers Australia – support | -13.5 | -12.0 | -3.0 | -3.0 |
| Creative Australia – redirect towards Melbourne Jewish Arts Quarter and supporting broadcasting | 33.2 | 2.0 | 1.1 | 7.5 |
| Daniel Morcombe Foundation – support (a) | 0.0 | 0.0 | 0.0 | 0.0 |
| Defence Capability and Acquisition Commission (g) | 0.0 | 0.0 | 0.0 | 0.0 |
| Domestic Violence Community Training Grant Program | -2.5 | -2.5 | -2.5 | -2.5 |
| Driver Reviver site upgrades | -3.4 | -3.3 | -3.3 | 0.0 |
| Drug detection and screening infrastructure investment | -17.7 | -17.3 | -17.2 | 0.0 |
| Establish a Special Envoy for Hostage Affairs (a) | 0.0 | 0.0 | 0.0 | 0.0 |
| Expanding the PPP500 Scheme to support vulnerable parties seeking a property settlement | -6.9 | -6.9 | -6.9 | -6.9 |
| Extend Domestic, Family and Sexual Violence Commission’s Terms of Reference | -2.2 | -2.2 | -2.3 | -2.4 |
| Farm Safety (a) | 0.0 | 0.0 | 0.0 | 0.0 |
| Fast Track scheme within the Administrative Review Tribunal – two year trial | -2.0 | -5.0 | -4.5 | 0.0 |
| Funding for Makarrata, Treaty and ‘Truth Telling’ – redirect to Indigenous Affairs priorities | 26.0 | 0.0 | 0.0 | 0.0 |
| Headstone Project – Deductible Gift Recipient status | -0.1 | -0.1 | -0.1 | -0.1 |
| Increase Defence Spending – including investing in a Fourth F-35A Lightning Squadron | -200.0 | -2,950.0 | -3,850.0 | -5,700.0 |
| Indigenous Advancement Strategy – reallocations | 14.9 | 4.6 | 4.6 | 4.7 |
| Investing in safer and more connected communities | -52.2 | -35.0 | -15.0 | 0.0 |
| Invictus Games – support | -5.8 | -5.8 | 0.0 | 0.0 |
| Joint Taskforce to investigate union corruption and links to organised crime in the construction industry | -6.0 | -6.1 | -6.2 | 0.0 |
| Judicial Inquiry into anti-Semitism at universities | -4.2 | 0.0 | 0.0 | 0.0 |
| Kokoda Track Memorial Walkway (a) | 0.0 | 0.0 | 0.0 | 0.0 |
| Men’s mental health – additional support for Movember and Men’s Sheds | -8.0 | -8.0 | -8.0 | -8.0 |
| National Child Sex Offender Register – one year trial | -21.3 | 0.0 | 0.0 | 0.0 |
| National Domestic Violence Register – two year trial | -3.8 | -31.3 | 0.0 | 0.0 |
| National Higher Education Code to prevent and respond to anti-Semitism | -8.1 | -3.6 | -3.7 | -3.8 |
| National leadership on knife and youth crime | -18.0 | -11.2 | -0.1 | -0.3 |
| National Security Strategy (g) | 0.0 | 0.0 | 0.0 | 0.0 |
| New criminal offences associated with construction sector lawlessness (a) | 0.0 | 0.0 | 0.0 | 0.0 |
| New Drug Enforcement Taskforce with states and territories | -86.1 | -88.3 | -89.7 | -91.3 |
| No fault Investigations – pilot (a) | 0.0 | 0.0 | 0.0 | 0.0 |
| Oceans IQ – supporting marine education | -0.2 | 0.0 | 0.0 | 0.0 |
| Official Development Assistance – efficiencies (excluding the Pacific, Indonesia and Timor-Leste) | 107.7 | 229.5 | 235.2 | 241.1 |
| Overseas eligibility for social services payments – reduce to four weeks | 17.5 | 18.2 | 19.0 | 19.6 |
| OzFish – supporting habitat restoration | -1.5 | -1.5 | -1.5 | -1.5 |
| Recycling mobile phones to assist victims of domestic violence | -0.5 | -0.5 | -0.5 | -0.5 |
| Redtails Pinktails Right Tracks program | -2.8 | -2.8 | -2.8 | -2.8 |
| Royal Commission into Sexual Abuse in Indigenous Communities | -50.3 | -98.5 | 0.0 | 0.0 |
| Safety net for family and domestic violence helpline – support | -4.2 | -1.1 | -1.2 | -1.2 |
| Sculpture by the Sea – Cottesloe (a) | 0.0 | 0.0 | 0.0 | 0.0 |
| Sustainable Funding for Crime Stoppers | -2.5 | -2.5 | -2.5 | 0.0 |
| Unmarked War Graves Grants Program | -0.9 | -0.9 | -0.9 | -0.9 |
| Guaranteed quality healthcare and essential services | 2025-26 ($m) | 2026-27 ($m) | 2027-28 ($m) | 2028-29 ($m) |
|---|---|---|---|---|
| 1800MEDICARE – establishment | -51.5 | -51.0 | -51.0 | -51.0 |
| Age and Veterans Service Pension Work Bonus – double | -97.6 | -99.3 | -101.9 | -104.6 |
| Audit of Indigenous Expenditure (a) | 0.0 | 0.0 | 0.0 | 0.0 |
| Boost for food relief charities | -39.5 | -10.0 | -10.0 | -10.0 |
| Childcare – Restoring the activity test | 50.0 | 117.0 | 124.0 | 129.0 |
| Community Childcare Fund for Regional Australia | -50.0 | -50.0 | 0.0 | 0.0 |
| Explicit Teaching Accelerator Fund | -0.5 | -7.0 | -7.0 | -6.9 |
| Farmer Mental Health Package (a) | 0.0 | 0.0 | 0.0 | 0.0 |
| High Quality Graduate Diplomas of Education | 0.0 | 47.7 | 99.3 | 103.8 |
| Implementing a National Behaviour Survey in School (a) | 0.0 | 0.0 | 0.0 | 0.0 |
| Increasing Isolated Children Boarding School Allowance | -20.0 | -20.0 | 0.0 | 0.0 |
| Investing in regional health education infrastructure and workforce | -33.3 | -33.3 | -33.3 | 0.0 |
| Maddie Riewoldt’s Vision – additional support | -3.0 | 0.0 | 0.0 | 0.0 |
| Making it easier to access Medicare subsidised psychology sessions | 21.4 | 23.0 | 23.8 | 24.6 |
| National Institute for Mental Health – expansion | 0.0 | -9.0 | -9.0 | -9.0 |
| National School Chaplaincy Program – additional resourcing | -4.6 | -10.3 | -12.6 | -15.1 |
| New BOM Radar in Central Queensland | -4.0 | -2.0 | -2.0 | -2.0 |
| New Health and Engineering Wing for CQUniversity | -15.0 | -7.5 | -5.0 | 0.0 |
| Next Stages of Creutzfeldt-Jakob disease longitudinal study | 0.0 | 0.0 | -0.2 | -0.1 |
| Non-Government School 18 month Foundation Program – South Australia | -22.0 | 0.0 | 0.0 | 0.0 |
| Northern Australia and Rangelands Fire Information | -0.8 | -0.8 | -0.8 | 0.0 |
| Outcomes-based Indigenous Health Delivery – CareFlight investment | -10.0 | 0.0 | 0.0 | 0.0 |
| Outcomes-based Indigenous Health Delivery – Tresillian Family Care Centre | -2.1 | -1.8 | -1.8 | -1.9 |
| Ovarian Cancer Australia | -2.0 | -2.0 | 0.0 | 0.0 |
| Permanently restoring 20 psychology sessions and investing in headspace centres, youth psychosis centres and additional Urgent Care Clinics | -117.6 | -238.7 | -242.7 | -231.7 |
| Ready to Read program | -0.6 | -0.6 | -1.0 | -1.6 |
| Remote Indigenous Student Success Boarding Fund | -50.0 | -53.1 | -6.3 | -6.5 |
| Review of women-specific health items on the MBS and PBS | -5.0 | 0.0 | 0.0 | 0.0 |
| Rural Health Commissioner Funding for a regional health strategy (a) | 0.0 | 0.0 | 0.0 | 0.0 |
| Skills in School Strategy (a) | 0.0 | 0.0 | 0.0 | 0.0 |
| Specialised Care Subsidy – AEIOU Foundation | -9.0 | -11.0 | -12.0 | -3.0 |
| Start-up Year Loan Scheme – reprioritise | 2.5 | 2.2 | 1.8 | 1.5 |
| Stay Afloat Australia – additional support | -1.0 | -1.0 | 0.0 | 0.0 |
| Suicide Prevention Research Fund | -3.8 | -3.8 | -3.8 | -3.8 |
| Superannuation on Paid Parental Leave – parental choice | -332.0 | 45.1 | 71.8 | 56.6 |
| Support for Disaster Relief Australia for a National Veterans Volunteer Program | 0.0 | -21.5 | -21.5 | -21.5 |
| Supporting Community Healthcare | -9.2 | -5.0 | -5.0 | -5.0 |
| Supporting the First Hindu Faith School in Australia | -1.0 | -2.7 | -2.7 | -2.7 |
| Teach Maths for Australia | -0.4 | -1.3 | -9.8 | -18.7 |
| Teacher Training Accreditation Board (a) | 0.0 | 0.0 | 0.0 | 0.0 |
| Veterans’ and Families’ Hubs | -32.3 | 0.0 | 0.0 | 0.0 |
| Veterans Chaplaincy program | -1.0 | -1.0 | -1.0 | -1.0 |
| Veterans Guild – support | -1.1 | -1.4 | -1.2 | -1.3 |
Notes:
- Funded from within existing resources.
- Funded from within existing resources, obviating need for additional funding allocation.
- Offsetting reduction to public debt interest (PDI) included in aggregate public debt interest line, in accordance with standard budget treatment.
- Impact on PDI of associated borrowing included in aggregate public debt interest line, in accordance with standard budget treatment.
- Measure estimated to have an unquantifiable impact on receipts.
- Balance of the Coalition’s $35 million commitment funded from within existing budget allocation.
- Funded from within additional investment in defence.