From www.aicd.com.au: Australia’s Budget 2025 forecasts a return to deficits, with an underlying cash deficit projected at $27.6 billion for 2024-25 and increasing to $42.1 billion in 2025-26, while gross government debt is expected to rise from $940 billion to $1,022 billion in the same period.

Despite high global uncertainty, the budget anticipates real GDP growth up to 2.5% by 2026-27 and includes modest personal income tax cuts aimed at low-income earners.

Key expenditures include $8 billion for renewable energy investments and continued funding for aged care reforms, as the government balances cost of living relief with fiscal responsibility.