2023 Australian federal budget

Inflation was still well above the Reserve Bank of Australia's 2-3% target band. In the first quarter of 2023, the annual inflation rate slowed to 7.0%, from 7.8%. The International Monetary Fund had recently warned Jim Chalmers about the coming slow-down in the global economy. Concerns remained with the last two interest rate rises causing hardship for some households and the broader economy. The budget was delivered during a period in which the rental market was described as a crisis. On 27 April 2023, Anglicare Australia released its annual report on rental affordability. Just 345 rentals (0.8%) were considered affordable to renters earning minimum wage. Homelessness Australia wanted the Commonwealth to increase the rent assistance payment by 50 per cent. 300 signatories signed an open letter urging the government to increase the rate of the JobSeeker, Youth Allowance and other payments in the next budget. The letter was co-signed by academics, business leaders, economists and politicians including Labor backbenchers. ==Forecasts==

The budget is forecast to deliver a surplus of $4 billion, the first in 15 years. The change in forecast is due to high commodity prices, a strong jobs market and a rise in net migration. Revenues The final budget outcomes for 2022–23 delivered a surplus of $22.1 billion (equivalent to 0.9% of Australia’s GDP), which was well above the government's forecasted surplus of $4.3 billion; this is Australia's first budget surplus in 15 years, and the largest ever Australian budget surplus. ==Expenditure==

billion over the next four years is to be spent on aged care. Around 250,000 aged care workers will receive a 15% wage rise from 1 July 2023. It is estimated this will save $1.6bn for patients over the next four years. The measure aims to modernise the force and make Australia self-reliant. The budget included an increase of $40 per fortnight in the JobSeeker allowance for most people, and $92.10 extra for long-term unemployed 55- to 60-year-old people. A total of A$10.5 million has been allocated to improve mental health services for Indigenous Australians in the lead-up to the September/October 2023 referendum on the Indigenous Voice to Parliament: $500,000 for ANU's Mayi Kuwayu research team to monitor the well-being of communities, and the rest to the National Aboriginal Community Controlled Health Organisation. ==Opposition and crossbench response==

Leader of the Opposition Peter Dutton withheld support for the JobSeeker increase in his budget reply speech, instead suggesting that welfare recipients should be allowed to earn more before their payments are reduced. He supported some of the proposed welfare and cost-of-living relief measures, but criticised the level of migration and Labor's stance against any form of nuclear power. ==Reception==

The United Workers Union praised the decision to raise aged care workers pay. ==See also==