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
E&OE Bran Black, BCA: I’m here with colleagues from industry associations that represent the length and breadth of Australia’s economy, and we’re here today to talk about a couple of key features of the Budget. What I wanted to do is just take a step back first and just talk about how we came together…. Read more »
The Alliance of Industry Associations described measures in the Federal Budget as positive first steps on productivity reform, while calling for further action to deliver sustained cost of living relief for households and businesses. The Alliance, representing around 30 industry groups from a broad cross-section of Australia’s economy, has previously called for a significant package… Read more »
The ABA says the 2026 Federal Budget lays the groundwork for reforms that enhance productivity across the financial services sector and the broader economy. Projected improvements to the overall Budget position through lower deficits and a more sustainable fiscal trajectory are also welcome. Ongoing fiscal discipline, including spending restraint, will be key to placing… Read more »