2024 Budget: No Priorities, Lacks Ambition 

Federal Treasurer Jim Chalmers hands down the 2024-25 Budget in the House of Representatives at Parliament House in Canberra, Tuesday, May 14, 2024. (AAP Image/Mick Tsikas) NO ARCHIVING
AAP Image/Mick Tsikas


The 2024-25 Federal Budget is a missed opportunity for the Government to solve the key underlying structural problems causing growing inequality, focusing instead on small announceables.  

“The emphasis on a surplus is a missed opportunity to invest in measures that would lift those on Jobseeker out of poverty,” said Matt Grudnoff, Senior Economist at the Australia Institute. 

“Budgets are a question of choices, and the Government has chosen to bank a surplus over measures to reduce inequality or tackle a fall in real wages.

“Changes to Commonwealth Rent Assistance are much needed, but the fact remains that the Budget lacks the ambition required to address the underlying causes of growing inequality, especially access to affordable housing.

Annual inflation has almost halved over the last year, and the measures in this Budget will help to continue that trend. Steps to address rent and energy costs will all make a difference to people feeling cost of living stress while keeping downward pressure on inflation.

“The Government’s choice not to increase the JobSeeker payment fails on both economic sense and compassion. In a time when inflation is having a disproportionate impact on non-discretionary expenditure, keeping those looking for work below the poverty line is cruel.

“This Budget pushes ahead with weak reforms to the PRRT. Australian nurses pay more tax than the oil and gas industry pay in PRRT. In fact, Australia Institute research has shown that even modest changes to the PRRT could raise $18 billion over the forward estimates.

“This Budget lacks a centrepiece and lacks ambition.”

General Enquiries

Emily Bird Office Manager

02 6130 0530


Media Enquiries

David Barnott-Clement Media Advisor

0457 974 636


RSS Feed

Media Releases