A strong economy

Our budget provides cost of living relief, gives more opportunities to more Australians, and creates a secure economy into the future. We’re building for the long term, and we’re helping Australians who need support now.

Growing our economy

We know the best long-term guarantee of rising living standards, stronger wages and a better quality of life is a growing and productive economy. That’s why our budget is underpinned by a plan to modernise our economy and maximise our strengths by:

• Investing over $40 billion to make Australia a renewable energy superpower.
• Investing in advanced manufacturing, critical minerals and the digital economy.
• Boosting training and skills, with 300,000 fee-free TAFE places.
• Incentivising small businesses to reduce their energy costs, and providing support for digital adaptation.

Making the budget stronger

From energy bill relief to national defence, manufacturing to Medicare, investments in this budget aim to make Australia more resilient and more secure in uncertain times. Fundamental to this is our responsible economic management and our efforts to put the budget on a stronger foundation. That's why we're:

• Delivering the first budget surplus in more than 15 years.
• Forecasting smaller deficits over the forward estimates.
• Avoiding billions of dollars in extra debt.
• Cleaning up the mess we inherited.

We know that households and businesses are feeling the pressure. We know there is a lot of work to do. We’re getting on with the job.