Federal budget 2022/23 at a glance


* Budget deficit of $36.9 billion in 2022/23

* Commonwealth net debt to rise to $572.2 billion (23 per cent of GDP) in 2022/23

* Economic growth to rise by 3.25 per cent in 2022/23

* Unemployment rate of 3.75 per cent in 2022/23

* Inflation as measured by CPI to be 5.75 per cent in 2022/23

* Wages to rise by 3.75 per cent in 2022/23


* Cheaper child care for 1.26 million families (costing $4.7 billion over four years)

* Expanded paid parental leave to 26 weeks by 2026

* Cuts to cost of medicines on Pharmaceutical Benefits Scheme

* National Reconstruction Fund providing $15 billion for loans, guarantees and equity for agriculture, resources and other projects

* $109.7 billion health budget

* $1.7 billion women’s safety plan

* National Housing Accord to set target of an extra one million homes over five years

* $120 billion pipeline of infrastructure over 10 years

* 480,000 fee-free TAFE places and 20,000 extra university places

* $20 billion energy transmission fund


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The information has been given in good faith and has been prepared based on information that is believed to be accurate and reliable at the time of publication. The information is general in nature and does not take into account your particular financial needs, circumstances and objectives.


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