The Albanese Government will deliver two more tax cuts to every Australian taxpayer in 2026 and 2027, adding to the first round that Labor delivered in July last year.
Every Australian taxpayer gets another tax cut from next year – all 14 million, not just some.
This will give a top up to every taxpayer, right up and down the income scale.
Labor’s new tax cuts are modest but they will make a difference.
The Albanese Labor Government is securing Australia’s future during a time of global uncertainty by making our economy more productive and more resilient.
Our best defence against global pressures is a stronger economy, and that’s what we are building in this Budget.
We’re making our economy more dynamic by advancing National Competition Policy reforms and investing in productivity-enhancing infrastructure, including the National Broadband Network.
Cost of living is front of mind for most Australians, and front and centre in the Budget.
The Albanese Government is delivering responsible and meaningful cost of living relief for Australian families.
We’re providing more hip pocket help for households.
The centrepiece of the Budget is more tax cuts for every taxpayer, which will benefit 14 million Australians.
Helping Australians earn more and keep more of what they earn is a central part of our economic plan.
The new tax cuts will top up the relief that started flowing for workers last year.
This is a responsible Budget that helps with the cost of living, while Building Australia’s Future.
We are delivering more tax relief for every Australian taxpayer, more energy bill relief and cheaper medicines.
We are strengthening Medicare, investing in housing and education, advancing reforms to make our economy stronger, and building a Future Made in Australia.
The Budget builds on the strong foundations we have laid, helping to secure our nation’s future at a time of global uncertainty.
SALLY SARA, HOST: My guest this morning is the Prime Minister, Anthony Albanese. Prime Minister, welcome back to Radio National Breakfast.
ANTHONY ALBANESE, PRIME MINISTER: Good morning, Sally.
SARA: Ahead of the election, Prime Minister, is this going to be a no frills Budget or is this going to be a Budget that focuses on providing Australians with much needed cost of living relief?
MATT ACTON, HOST: The Prime Minister, Anthony Albanese is on. Good morning.
ANTHONY ALBANESE, PRIME MINISTER: Good morning, good to be with you again.
ABBY COLEMAN, HOST: Some big budget announcements today.
ROB MITCHELL, MEMBER FOR MCEWEN: It is fantastic again to have the Prime Minister down here. This Prime Minister has been to this seat more than any other Prime Minister before him. And every time he's down, every year he comes down, there's always a positive announcement. It's great to have Catherine King, the Minister, and of course Gabby Williams, our state minister, as well as Basem Abdo, Jared Bell, the Mayor, and of course, Lauren Kathage, the member for Yan Yean. This is a fantastic day for us all to be here.
JULES LUND, HOST: Well, Prime Minister Anthony Albanese. We know why you've called through. You've obviously heard about Fifi being in Beauty and the Beast and you either want to get some tickets or you want to help her out with a bit of a line read. How are you today?
ANTHONY ALBANESE, PRIME MINISTER: Well, I tell you what, I'm not as excited as Lisa was there. That was fantastic. I was hanging on hold there, just cheering for her.
FIFI BOX, HOST: I know. How do you think you'd go with Alphabucks, Prime Minister?
ANTHONY ALBANESE, PRIME MINISTER: Thank you very much for joining us. And I begin by giving a shout out to all those mums and dads and carers who are dropping their young ones off at school this morning for the school drop off right around the country and indeed for them, but most importantly for the young Australians to come, this is a historic day. Today we reach the point for the first time in Australian history where every student, public and private, will be delivered the school funding that they deserve.
ANTHONY ALBANESE, PRIME MINISTER: On Tuesday night, my Government will have Jim Chalmers do our fourth Budget this term. Our Budget is about helping family budgets. Labor will take another $150 right off your power bills. Two payments of $75 each for every household. This is cost of living relief when it's needed, right across the country. We can do this because we've made responsible economic decisions, saving debt to the tune of $200 billion over our term in office. We've been setting about fixing the mess that we inherited.