2024-25 Federal Budget
An Overview
Key Points
The 2024-25 Australian federal budget, delivered on May 14, 2024, focused on addressing cost-of-living pressures and investing in the future of Australia. Key measures include:
- Easing cost-of-living pressures
- Building more homes for Australians
- Investing in a strong future
Easing Cost-of-Living Pressures
The budget provided support to Australians facing rising costs, including:
- Cost-of-living payments for low- and middle-income earners
- Increase in JobSeeker rent assistance and single-parent payment rates
- Tax cuts for workers earning up to $90,000
Building More Homes for Australians
The budget committed significant funding to:
- Constructing more affordable homes
- Helping first-home buyers enter the property market
- Investing in social housing
Investing in a Strong Future
The budget allocated funding for:
- Education and skills development
- Health and aged care services
- Renewable energy and infrastructure projects
Conclusion
The 2024-25 federal budget is a significant investment in the future of Australia. By addressing cost-of-living pressures, building more homes, and investing in key sectors, the government aims to create a more prosperous and equitable society.
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