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 will better detect, prevent and respond to financial abuse under an updated industry guideline released today by the Australian Banking Association. The ABA has brought together separate resources on financial abuse, including elder abuse and family and domestic violence into a single framework, building on existing industry guidance and supporting the financial abuse provisions… Read more »
The ABA and its member banks are reminding businesses to make sure they are ready for the upcoming Reserve Bank of Australia’s (RBA) card surcharge reforms which take effect from 1 October 2026. These changes mean: ABA CEO Simon Birmingham said banks were supporting business customers to prepare for these changes, along with implementing the… Read more »
E&OETV InterviewInterview on News24 with Kieran Gilbert11 September 2026 Topics: Mortgage fraud; card surcharging ban; immigration Kieran Gilbert: Let’s turn our attention now to one of the biggest financial crime syndicates in Australian history. I want to talk about the implications for our banking system with the CEO of the Banking Association, Simon Birmingham. Simon,… Read more »