Share This

Budget 2023

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.

With this budget, we’re delivering a stronger foundation for a better future.

That’s what Labor budgets are always about: tackling today’s challenges, building for tomorrow.

We’re helping people struggling to make ends meet and making sure the services we rely on are stronger and more sustainable into the future.

The biggest ever investment in bulk-billing. Lowering the cost of medicines. Funding the biggest pay raise for aged care workers. Offering real relief, right now to help Australians with their energy bills.

Our plan will grow the economy: creating new jobs in our regions and suburbs, boosting renewable energy and investing in TAFE and training, so Australians can make the most of the opportunities in front of us.

We're making responsible and disciplined choices that put our economy and our society on stronger footing.

You can read more about what's in it, and sign up for email updates on our work below.

Taking action on cost of living

Providing responsible, targeted cost of living relief is a key priority in our budget. This includes:

  • Up to $500 of energy bill relief for more than 5 million households.
  • Getting wages moving, including a 15% pay rise for aged care workers.
  • Halving medicine costs for more than 6 million Australians.
  • 300,000 fee-free TAFE places.
  • Investing in housing and making renting fairer.

Historic investments in healthcare

One of the things that makes this the best country in the world is our shared belief that every Australian should be able to access affordable, reliable healthcare. But right now, too many people are finding it more and more difficult to see a doctor. We're changing that by:

  • Boosting bulk billing, which will help more than 11 million Australians see a doctor for free.
  • More health care at local pharmacies.
  • Halving medicine costs for more than 6 million Australians.
  • Opening an extra 8 free Medicare Urgent Care Clinics.

Supporting Australians doing it tough

We're proud that in our first year in office, 339,000 new jobs have been created. But even with unemployment at historic lows, we know there are still people struggling to find work and struggling to get by. As a Labor Government we will always strive to help those who need it the most. This budget does that by:

  • Increasing Jobseeker, Youth Allowance, Austudy and other income support payments by $40 a fortnight.
  • Expanding the single parent payment so it covers families until the youngest turns 14, up from 8.
  • Boosting rent assistance for the first time in 30 years and investing in affordable housing.
  • Investing to prevent family violence through the National Plan to End Violence Against Women and Children.
  • Plus more support for disadvantaged communities.

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.

About Anthony
Media Centre
Grayndler NewsTranscriptsSpeechesOpinion Pieces

Electorate Office

334a Marrickville Rd
Marrickville NSW 2204

Phone: 02 9564 3588

Parliament House Office

Parliament House
Canberra ACT 2600

Phone: 02 6277 7700

DisclaimerPrivacyTerms

Electorate Office

334a Marrickville Rd
Marrickville NSW 2204

Phone: 02 9564 3588

Parliament House Office

Parliament House
Canberra ACT 2600

Phone: 02 6277 7700

Phone: (02) 9564 3588
Fax: (02) 9564 1734
Email: A.Albanese.MP@aph.gov.au

We acknowledge the traditional custodians of the land on which our offices stand and we pay our respects to Elders past, present and emerging. We acknowledge the sorrow of the Stolen Generations and the impacts of colonisation on Aboriginal and Torres Strait Islander peoples. We also recognise the resilience, strength and pride of the Aboriginal and Torres Strait Islander communities.

Authorised by Anthony Albanese. 334a Marrickville Rd, Marrickville NSW 2204.

Sign up to hear directly from the Prime Minister

Loading...