We don’t have a crystal ball, but we can take a look at how all these budget policies might impact our future selves in 2028.

Wage growth is forecast to steadily rise until 2028, reaching 3.25 per cent by the 2028-29 financial year.

“The strength of labour market conditions and easing in inflation means that real wages are growing again,” the budget papers state.

Wages could also be posititvely impacted by the banning of non-compete clauses for low and middle-income earners, which the federal government expects will incease impacted worker wages by up to $2500 per year on an average wage.

Aged care workers have also been handed a pay rise in this budget, with $2.6 billion invested into the industry.

Another $3.6 billion will fund historic wage increases for early childhood education workers.

Salary incentives for junior doctors are set to result in more than 2000 GPs entering training every year from 2028.

The federal government forecasts there will be more junior doctors training to become GPs than ever before in Australian history by then, addressing the country’s shortage.

Plus, the investment in bulk billing could mean 18 million more appointments are free each year by the 2028-29 financial year, according to the budget.

Unemployment to remain steady

Australia’s unemployment rate rose slightly in January this year to 4.1 per cent.

According to the budget papers, jobless figures are set to remain steady with a gradual rise into the 2028-29 financial year.

“The unemployment rate is forecast to gradually rise to reach a peak of 4.25 per cent, 0.25 of a percentage point lower than forecasted,” the budget papers state.