2021 | Federal Budget Summary
Budget Overview
This evening Treasurer, Josh Frydenberg handed down his third Budget—one fit to take to the polls.
A year ago, Australia was in lockdown, and the economic impact of COVID-19 was daunting with 1.3 million Australians losing their jobs. A year on, employment in Australia has exceeded its pre-COVID level, with more Australians in work today than ever before.
So far, Australia has successfully suppressed the virus. Australia's performance on both the health and economic front has been world leading. The Treasurer has expressed his deep gratitude to every Australian for their role in this achievement, but there is more to do. This budget provides an outline of the Government's next steps.
The 2021-22 Budget has made record commitments in:
Aged Care
Childcare
Mental health
Women's safety
Key measures include:
$1.9 billion to fund priority technologies, including clean hydrogen & energy storage
$17.7 billion to significantly improve the Aged Care system
$15 billion for additional infrastructure commitments, with $3.3 billion for priority road projects in NSW
$2.3 billion commitment to mental health care & suicide prevention
$1.7 billion on top of the current annual child care budget
$1.1 billion to be invested in women's safety
Overall, the measures announced tonight reflect the Government's intention to create jobs, rebuild our economy, and secure Australia's post-COVID future.
Key Measures
Below we have summarised the key budget announcements, grouped by their portfolio areas:
Infrastructure, Transport + Regional Development
$15 billion for additional infrastructure commitments
$3.3 billion for priority road projects in NSW
$256.5 million for round six of the Building Better Regions Fund to support investment in regional infrastructure
Industry, Energy, Technology + Resources
$1.9 billion to fund priority technologies, including clean hydrogen & energy storage
$660 million for a state energy & emissions reduction deal with South Australia
$565 million for low emissions technology partnerships
Agriculture, Environment + Water Resources
$600 million to establish the National Recovery & Resilience Agency
$371 million on biosecurity to protect agricultural & regional communities
$102 million to incentivise farmers to increase soil testing
Treasury, Finance + Digital Economy
$9 billion to fund a $50 a fortnight JobSeeker rise
$7.8 billion to extend the low & middle-income tax offset for another year
$1.2 billion to fund a digital economy strategy
Communications + Arts
$58.6 million to support the media sector
$3.3 million to Ausfilm to continue to attract international film industries to produce films in Australia
Health + Aged Care
$17.7 billion into significantly improving the Aged Care system
$2.3 billion commitment to mental health care & suicide prevention
$1.9 billion towards the COVID-19 Vaccination Strategy
Attorney-General + Industrial Relations
$123.8 million to support the reform of the family law system to improve access & safety for children & families
$9.8 million to support the implementation of the Government's Sexual Harassment National Inquiry Report
Education, Employment, Skills, Small + Family Business
$2 billion to fund & improve preschools
$255 million in tax relief for small brewers & distillers
$53.6 million for English-language & higher education (not including university) providers.
Home Affairs, Immigration, Citizenship + Migrant Services
$270 billion towards Australia's defence capability
$1.3 billion to be invested into the Australian Security Intelligence Organisation (ASIO)
Families, Social Services + Women
$1.7 billion on top of the current annual child care budget
$1.1 billion to be invested in women's safety
$354 million over the next four years to support women's health
