Economic Management

• 2026-27 Budget: $31.5 billion deficit (1.0% of GDP), $44.9 billion stronger over forward estimates than December MYEFO

• Gross debt $173 billion lower in 2026-27 than inherited 2022 PEFO forecast

• $63.8 billion in new savings and reprioritisations, $177.9 billion cumulative since taking office

• Budget projected to return to balance in 2034-35

• Final Budget Outcome 2024-25: $10 billion deficit, $18 billion better than forecast, S&P reaffirmed AAA rating

• Economic Reform Roundtable (19-21 August 2025) identified 15 priority reforms across five pillars

• $10.2 billion per year regulatory burden reduction once fully implemented

• $13 billion per year long-run GDP boost from Single National Market

• ~1,000 nuisance tariffs abolished

• 30% minimum tax on discretionary trust income from 1 July 2028

• 50% CGT discount replaced with CPI indexation + 30% minimum tax on real gains from 1 July 2027

• Negative gearing on established residential property limited to new builds from 1 July 2027 (pre-Budget investments grandfathered)

• $3.5+ billion small business tax package: permanent $20,000 instant asset write-off, loss carry back (85,000 companies), loss refundability for start-ups (25,000 per year)

• $39.1 billion R&D investment over four years, RDTI reformed from 1 July 2028 in response to Ambitious Australia Report

• $1.5 billion for CSIRO, NMI, SKA and research institutions; National Resilience and Science Council established

• Boyne Island Aluminium Smelter: $1 billion to transition to renewable energy, unlocking $7.5 billion private investment

• Critical Minerals Strategic Reserve established ($1 billion + $150 million stockpiling; antimony, gallium, rare earths)

• $222.6 million for Whyalla Steelworks

Healthcare

• $25 billion additional public hospital funding (2026-27 Budget), total $220.3 billion over five years

• 137 Medicare Urgent Care Clinics made permanent ($1.8 billion), almost 3 million free visits delivered

• National GP bulk billing rate at 81.4% (Nov 2025-Jan 2026); $11.4 billion committed, target 9 in 10 by 2030

• 1,420 new fully bulk-billing practices since November 2025 reforms (3,761 total)

• $5.9 billion for new PBS listings (cystic fibrosis, chronic kidney disease, cancers)

• 437 new or amended PBS medicines funded since 1 July 2022

• $449.3 million to list RSV vaccine on National Immunisation Program

• $3.7 billion aged care package: up to 5,000 new beds/year, $1 billion to fully subsidise personal care, $606.5 million capital subsidies

• Age-based private health insurance rebate uplift removed from 1 April 2027 ($3 billion redirected to bulk billing, hospitals, medicines)

Housing

• Total Commonwealth housing commitment lifted to $47 billion

• $2 billion Local Infrastructure Fund supporting up to 65,000 new homes (total housing-enabling infrastructure now $6.3 billion)

• Foreign buyer ban on established homes extended to mid-2029

• $59.4 million Youth Housing Supplement for 4,000+ young people at risk of homelessness

• $100 million HAFF release for First Nations remote housing

• CGT and negative gearing reforms projected to deliver 75,000 additional owner-occupiers over the decade

Workplace Rights

• Fair Work Commission empowered to adjust fuel terms in road transport contracts (April 2026 order)

• Junior pay rates phased out for retail, fast food, pharmacy workers aged 18-20

• FWC continuing gender undervaluation reviews across child care, health, social services awards

Climate & Environment

• 370,000+ home batteries installed under Cheaper Home Batteries since 1 July 2025 (10+ GWh new capacity)

• 6.8 GW of renewable energy delivered in 2025

• $1.1 billion Cleaner Fuels Program for domestic low carbon liquid fuels

• Hydrogen Headstart Round 2 ($1 billion) for renewable hydrogen projects

• 20% domestic gas reservation from 1 July 2027

• Permanent 25% EV fringe benefits tax discount transition

• $500+ million for EPBC reform implementation (AI assessments, bioregional plans)

• $40 million for kerbside and regional EV chargers, $40.5 million for Australia Post fleet electrification

Education

• Student loan 20% cut wiped $16 billion for 3+ million Australians (July 2025); minimum repayment threshold raised to $67,000

• National Credit Recognition Framework: TAFE qualifications credited toward university degrees

• $85.2 million to accelerate skills assessments for migrant trade workers

Gender Equality

• 6.3 million women benefit from Working Australians Tax Offset (2027-28)

• LISTO increase to $810 with eligibility threshold rising to $45,000 from 1 July 2027 (1.3 million Australians, 60% women)

• $182.6 million Child Support Scheme reforms addressing financial abuse and non-compliance

• $218.3 million Our Ways – Strong Ways – Our Voices: first standalone plan to end violence against First Nations women and children

• Keytruda cervical cancer treatment expanded; more long-acting reversible contraceptives supported

• $171.7 million for front-line community services

Cost of Living

• $250 Working Australians Tax Offset annually from 2027-28 (13+ million workers, 97% receive full amount)

• $1,000 instant tax deduction from 2026-27 (6.2 million workers, average $205 saving)

• Up to $2,816 combined annual tax benefit for an average earner from 2027-28

• $2.9 billion fuel excise cut for three months from 1 April 2026 (52.6c to 20.6c per litre); heavy vehicle road user charge zero

• $14.8 billion fuel resilience package, building diesel and jet fuel reserves to 50 days

• Card payment surcharge ban from 1 October 2026 ($1.6 billion annual consumer saving)

• Total card payment savings $2.5 billion annually including interchange fee reductions

Integrity

• Maximum competition and consumer law penalties doubled to $100 million

• $654.3 million to expand Digital ID; $62 million invested in Consumer Data Right

• Weekly ACCC retail fuel price reporting

Foreign Policy

• 2026 National Defence Strategy: $53 billion additional over 10 years, projected ~3% of GDP by 2033-34 (revised definition)

• $887 billion cumulative defence expenditure over decade; $425 billion Integrated Investment Program

• Up to $130 billion on undersea warfare (AUKUS submarines); $77 billion surface fleet; $15 billion autonomous systems

• $12 billion initial Henderson Defence Precinct (WA) as naval shipbuilding centre of excellence

• $600 million for enhanced Indo-Pacific defence cooperation

• RAAF C-27J Spartan fleet retired early; ~$5 billion redirected to higher-priority capabilities