Australia’s tax take is higher – but so are debt and deficit in this year’s budget

Higher-than-expected revenue has put the economy in a stronger position than last year and is helping fund pre-election policies including tax cutsFederal budget 2025 LIVE updates: Australia government budget announcement and speech – latest newsExplore all of our 2025 Australia federal budget coverageGet our morning and afternoon news emails, free app or daily news podcastAustralia’s labour market has consistently defied expectations, with most jobseekers still able to find work even as inflationary pressures hit their employers.Those workers have delivered the government another higher-than-expected tax take, which will help Labor fund its pre-election policies, including income tax cuts, while allowing the government to argue that its forecast budget deficits are reasonable. Continue reading...

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Mar 25, 2025 - 02:53
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Australia’s tax take is higher – but so are debt and deficit in this year’s budget

Higher-than-expected revenue has put the economy in a stronger position than last year and is helping fund pre-election policies including tax cuts

Australia’s labour market has consistently defied expectations, with most jobseekers still able to find work even as inflationary pressures hit their employers.

Those workers have delivered the government another higher-than-expected tax take, which will help Labor fund its pre-election policies, including income tax cuts, while allowing the government to argue that its forecast budget deficits are reasonable. Continue reading...

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