17 December 2025
The ABA acknowledges the release of the 2025-26 Mid-Year Economic and Fiscal Outlook.
The Government’s forecasted $8.4 billion reduction in the deficit over the forward estimates including a $5.4 billion reduction for year’s deficit is welcome.
Lower deficits and claimed savings of $20 billion over the next four years is a beginning towards ensuring our national finances are on a more sustainable footing.
While this Budget update contains lower forecasts of spending as a share of GDP, the ABA notes the importance of ongoing spending restraint to help reduce inflationary and interest rate pressures.
Banks will continue to work the with Federal Government on long-term reforms to boost productivity, build resilience, lift innovation and support stronger economic growth.
Latest news
Banks stand ready to support customers in north and north-west Queensland currently experiencing heavy rainfall and flooding. ABA CEO Simon Birmingham said customers didn’t have to tough it out on their own with banks on standby to assist communities get through this challenging time. “Banks recognise the significant financial and emotional toll an extreme weather… Read more »
ANZ CEO Nuno Matos has been appointed as the new Chair of the ABA Council, as banks continue their focus on meeting the needs of customers as well as playing a crucial role in the Australian economy. At the ABA’s Annual General Meeting today in Melbourne, ING CEO Melanie Evans was also reappointed as Deputy… Read more »
The ABA welcomes today’s release of draft industry designations and framework for scams code obligations for banks, telecommunication companies and digital platforms – reinforcing the importance of an ecosystem approach in the fight against scammers. ABA CEO Simon Birmingham said the draft materials were the next piece of the puzzle in ongoing efforts to drive… Read more »