Australian Federal Budget 2024-25: Marsh McLennan analysis
Cost-of-living relief was a central focus of this year's Budget, with measures including a new $300 energy rebate for all households and increased support for low-income renters.
Federal Treasurer Dr Jim Chalmers' third budget seeks to provide ‘responsible’ cost-of-living relief without aggravating inflation. The 2024-25 budget, described as a Budget for the ‘here-and-now’, highlights measures aimed at immediate challenges amid global economic uncertainty, such as higher interest rates and ongoing inflation.
Delivering a surplus of $9.3 billion, Dr Chalmers made a promise that relief initiatives would not fuel inflation, calling Australia among the ‘best placed economies to manage these uncertainties and maximise our opportunities’.
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