Share this @internewscast.com

The federal budget is $18 billion better off thanks to a stronger-than-expected jobs market.
The final budget outcome, to be released on Monday, is set to show a deficit of just under $10 billion for 2024/25 — down from the $28 billion forecasted last financial year.
Treasurer Jim Chalmers said a robust jobs market and a rise in take-home pay for workers were among the reasons for the uptick in budget performance.
He said the final results for the last financial year showed the federal budget was in a strong position.

“In financial terms, our government has achieved more on the budget in the last three years than any prior administration,” he stated.

“We’ve turned two big Liberal deficits into two substantial Labor surpluses in our first two years, significantly reduced the deficit in our third year and continued to pay down debt,” Chalmers said.
The overall budget deficit for the last full financial year is set to be 0.4 per cent of Australia’s gross domestic product.
Chalmers said other factors, such as budget revenue upgrades being banked and spending restraint by the Commonwealth, also contributed to lower deficit levels.
“Today’s figures show that the deficit in our third year is around a fifth of the forecast we inherited from the coalition and around a third of the forecast before the election earlier this year,” he said.

“Prudent economic stewardship is a defining feature of the Albanese Labor government, and today’s outcome confirms that.”

An estimated 70 per cent of revenue upgrades have been banked in the past three years.
The final budget outcome is also expected to show average real spending at 1.7 per cent across the seven years to 2028/29.
The release of the budget paper coincides with the Reserve Bank starting two days of deliberations on whether to cut interest rates again.
The central bank is widely expected to keep the official cash rate on hold at 3.6 per cent following a slight rise in monthly inflation.
Monthly inflation in August rose from 2.8 per cent to 3 per cent, and while the Reserve Bank places more weight on quarterly figures, the increase has dampened expectations of further mortgage relief.

Share this @internewscast.com
You May Also Like
Salmond was a sideline reporter for Fox Sports at New Zealand Warriors NRL matches until she was abruptly dumped by the network

Former Football Presenter Unveils Disturbing Deepfake Images Amid Rising Attacks to Tarnish Her Reputation

A former sports presenter has taken bold steps to confront internet trolls…
Trump insists he can strike suspected drug-smugglers without backing of Congress

Trump Asserts Authority to Target Suspected Drug Smugglers Independently of Congressional Approval

President Donald Trump has asserted that he retains the authority to conduct…

Urgent Call to Action: Telcos Urged to Resolve Triple-Zero Failures Affecting 10,000 Samsung Users

Thousands of Samsung mobile phone users risk being out of pocket to…
Kristy Appleton fell sick with meningococcal B on the day she returned home from competing on the world stage in waterskiing.

Mother Urges Vaccination After Athletic Daughter’s Close Call with Meningococcal B

A mother from Queensland is advocating for the meningococcal B vaccine to…
Governor of the Reserve Bank of Australia Michele Bullock speaks at The Daily Telegraph Future Sydney Bradfield Oration held at the Opera House in Sydney on October 24, 2025.

Leading Banker Uncovers Alarming Financial Threat: Protect Your Money Now

Australia’s top banker says she’s worried about the threat posed to the…
The fugitive father (pictured) was shot dead during a showdown between him and NZ Police

Exclusive: Inside the Secret Bush Hideouts of Fugitive Father Tom Phillips and His Children – Unveiling Three Years of Evasion

Newly released photographs have unveiled secretive bush hideouts where fugitive father Tom…

Historic Land Return: Nearly 1 Million Hectares of Cape York Restored to Traditional Owners

The Federal Court of Australia has formally recognised the Guugu Yimidhirr, Yiithuwarra,…
Tatiana Dokhotaru

Woman Described ‘Absolute Hell’ in Text to Friend Prior to Alleged Murder

Before her tragic and untimely death, Tatiana Dokhotaru revealed to confidants that…
Changing Tides has been cancelled less than a month out from the music festival, with organisers confirming there will be no future events.

Beloved Music Festival Shocks Fans with Unexpected Cancellation Announcement

The music scene in Australia has taken a hit with the abrupt…

Unveiling the Legacy: The Historic Handback of Uluṟu-Kata Tjuṯa and Its Impact on Indigenous Rights

Uluṟu is one of the most famous and recognisable landmarks in the…
Amazingly no one was physically hurt in the Burnley Tunnel crash.

Miraculous Escape: Driver Survives SUV Crush by Fuel Tanker in Tunnel Collision

A Melbourne driver has had an incredible escape after their car was…
President Donald Trump answers questions from reporters during a roundtable on criminal cartels in the State Dining Room of the White House

Trump Halts Trade Negotiations Over Controversial Ad: A Diplomatic Standoff

US President Donald Trump said late on Thursday that he was ending…