The Albanese Labor Government’s 2024-25 Budget is easing cost of living pressures on Australians.
Under the leadership of Treasurer Jim Chalmers and Minister for Finance Katy Gallagher, Australia has soared in global rankings for budget management. Our economy is now ranked second in budget management worldwide.
Tax cuts
On July 1 this year, the Albanese Labor Government will deliver a tax cut for every Australian taxpayer, and 3.5 million Victorians.
Energy Bill Relief
From 1 July 2024, more than 10 million households will receive a total rebate of $300 and eligible small businesses will receive $325 on their electricity bills throughout the year. This will automatically be applied to your bill.
Housing
A $6.2 billion boost to housing in this Budget takes the Albanese Labor Government’s total housing investment to more than $32 billion. This includes funding fee-free TAFE places in construction to get homes built sooner, increased housing support for women and children fleeing domestic and family violence, and funding for the repair, maintenance and improvement of housing in remote Indigenous communities.
Health
The Albanese Government is also investing $2.8 billion to strengthen Medicare by providing additional Medicare Urgent Care Clinics, more free mental health services, higher Medicare rebates for many common medical tests, and an over $160 million women’s health package. We’re also delivering a five-year freeze on co-payments for PBS medications for vulnerable Australians.
You can read more about Labor’s Budget for every Australian at: budget.gov.au