25 March 2025
The Australian Banking Association (ABA) welcomes the release of the 2025-26 Federal Budget that maintains confidence in our financial system.
The ABA welcomes initiatives to:
- help boost housing supply
- support small businesses
- ensuring banking services remain available in the Pacific.
“This Budget provides extra support to Australians in the short-term whilst at the same time helping to address some of our longer-term challenges,” Ms Bligh said.
“There are modest measures to support small businesses and these build on the banking sector’s focus on ensuring they can get the credit they need to grow and prosper.
“Getting more Australians into homes is a critical issue for our nation. There are further initiatives in this Budget to help with boosting supply, which needs to be the number one priority to address the current housing crisis.
“Banks are also working to ensure banking services remain available to communities in the Pacific as an important measure to maintain safety and security in our region.
“Banks play a vital role in supporting households, businesses and the broader economy, and our industry will continue to support them with their financial security.”
Latest news
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… 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 »