On Budget Day, Australian Treasurer Jim Chalmers announced a series of major investments and policy reforms impacting healthcare, education, small businesses, housing, and the energy sector.

Healthcare:

  • Investments of $227 million for 29 new Medicare urgent care clinics to complement the existing 58, aiming to provide access to free healthcare and alleviate pressure on emergency departments.
  • An allocation of $361 million to bolster mental health services, including funding for a national digital mental health service to support 150,000 people annually.

Education and Skills Training:

  • A national target was set to achieve tertiary qualifications for eight in 10 workers by 2050, backed by $350 million for fee-free "uni-ready" courses and additional funding to support students in essential sectors such as nursing and teaching.
  • A $500 million investment to enhance skills in priority industries such as clean energy and construction.

Small Business and Industry:

  • Four million small businesses will receive $290 million in cash flow support.
  • An extension of the $20,000 instant asset write-off until June 30, 2025.

Housing and Infrastructure:

  • The government pledged $1.9 billion to support the construction of 40,000 social and affordable homes.
  • Additional funding includes $1.9 billion to raise maximum rates of commonwealth rent assistance and commitments under the "homes for Australia" plan to build 1.2 million homes over five years.

Energy and Environment:

  • A $3.5 billion allocation for new energy bill relief effective from July 1, providing a $300 rebate for Australians and targeted support for one million small businesses.
  • Commitments of $13.7 billion for green hydrogen incentives, $1.7 billion for the "future made in Australia innovation fund," and additional investments to advance renewable energy projects.

These measures are part of the government’s broader strategy to foster economic growth, address key social issues such as healthcare and housing, and lead the transition towards a renewable energy future. The Budget has been framed as one responding directly to contemporary challenges, aiming to position Australia as a key player in a globally transforming economy.