ECONOMY

* Budget deficit of $36.9 billion in 2022/23

* Deficit expands to $44 billion in 2023/24, $51.3 billion in 2024/25 and drops to $49.6 billion in 2025/26

* Commonwealth net debt to rise to $572.2 billion (23 per cent of GDP) in 2022/23 before hitting $766.8 billion (28.5 per cent of GDP) in 2025/26

* Economic growth to rise by 3.25 per cent in 2022/23, before easing to 1.5 per cent in 2023/24

* Unemployment rate of 3.75 per cent in 2022/23, rising to 4.5 per cent in 2023/24 then remaining stable

* Inflation as measured by CPI to be 5.75 per cent in 2022/23

* Wages to rise by 3.75 per cent in 2022/23

 

COST OF LIVING

* Cheaper child care for 1.26 million families (costing $4.7 billion over four years)

* Expanded paid parental leave to 26 weeks by 2026

* Cuts to cost of medicines on Pharmaceutical Benefits Scheme

* Support for wage increases for lowest paid workers

 

BUSINESS

* New agency called Jobs and Skills Australia to oversee workforce planning

* Permanent migration expanded to 195,000 in 2022/23

* Energy efficiency grants

 

REGIONS

* National Reconstruction Fund providing $15 billion for loans, guarantees and equity for projects in areas such as agriculture, resources, renewable energy and transport

* $2.4 billion investment in NBN, reaching 660,000 extra regional homes

* $1 billion for two new programs: Growing Regions and Precincts and Partnerships

 

HEALTH

* $109.7 billion budget

* $235 million over four years for urgent care clinics

* $750 million Strengthening Medicare Fund

* $2.6 billion for COVID-19 pandemic support

 

WOMEN

* $1.7 billion women’s safety plan

* Better reporting by companies on gender pay gap

* Fair Work Commission to consider equity when setting minimum wage

* Housing Australia Future Fund to back social housing for women fleeing violence

* $32 million for network of women’s advisory centres

 

HOUSING

* National Housing Accord to set target of an extra one million homes over five years

* Under the accord, $350 million over five years for affordable housing

* National Housing and Homelessness Plan with states and territories

* $10 billion Housing Australia Future Fund

* Four schemes aimed at first home buyers and downsizers

 

DEFENCE

* $38.3 billion total budget

* Eight per cent boost in defence spending

* New Australia Pacific Defence School

* $22.3 million for Australian Border Force officer network across Pacific

 

INFRASTRUCTURE

* $120 billion pipeline of investment over 10 years

* $250 million to expand local roads and community infrastructure program

* $1.2 billion national water grid fund

 

EDUCATION

* $46.3 billion budget

* 480,000 fee-free TAFE places

* 20,000 extra university places

* Funding for improved classrooms

 

WELFARE

* $228.8 billion budget

 

AGED CARE

* $2.5 billion over four years to fix urgent crisis

* $845.1 million for COVID-19 expenses

* $540.3 million for broader aged care reform

* Pay rise for aged care workers

 

INDIGENOUS

* $66.5 million for maintaining and expanding protected areas

* $47.5 million for National Indigenous Australians Agency to support community sector bodies

* $75.1 million over two years to prepare for Indigenous voice referendum

 

ENVIRONMENT

* $1.2 billion by 2030 to preserve and restore Great Barrier Reef

* $224.5 million in support for threatened native species

 

DISABILITY

* $166.6 billion over four years for NDIS, up $8.8b

* Extra university places for students with disabilities

* $10.3 million Sport4All program expansion

 

INTEGRITY

* $262.6 million over four years for National Anti-Corruption Commission

* $30 million for royal commission into robodebt

 

Paul Osborne
(Australian Associated Press)