Treasurer Dr Jim Chalmers has delivered Labor’s fifth Federal Budget which continues the Albanese Government’s focus on cost-of-living relief, tax cuts, funding to unlock more housing supply, a boost for primary healthcare, and addressing intergenerational equity.

The Treasurer announced that from July this year, every taxpayer will receive a tax cut including an extra $250 off their tax bill permanently. The government will also deliver a $1,000 instant tax deduction for work-related expenses.

Funding has been set aside to continue the cut to the fuel excise and heavy road user charge to help motorists navigate the global energy shock because of the war in the Middle East. The Albanese Government has also announced a fuel security package that will increase the national stockpile to 50 days, create extra storage facilities, and expand refinery capability.

More funding will go towards unlocking housing supply through the Local Infrastructure Fund. The fund will help councils build the roads, pipes, and wiring to enable the construction of more than 65,000 extra homes.

Quotes attributable to Federal Member for Robertson, Dr Gordon Reid MP:

“Our fifth Federal Budget is continuing to provide cost of living relief to our community on the Central Coast.

“We’re ensuring every taxpayer receives another tax cut plus can claim a $1,000 instant tax deduction for work-related expenses.

“Our cut to the fuel excise and the heavy road user charge will continue to help motorists and truck drivers whenever they fill up at the bowser.

“The government is establishing a fuel security package to increase our stockpile to 50 days and we’re expanding our sovereign refinery capability.

“Increasing housing supply remains a priority with the Local Infrastructure Fund that will help unlock 65,000 extra homes.
 
“This Budget helps people with the cost of living, strengthens healthcare services and addresses intergenerational equity in our economy.”, Dr Reid said.

ENDS