Federal Budget 2024-25: Key Portfolio Measures

14 May 2024

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Defence; Foreign Affairs & Trade; Home Affairs; Attorney-General

Recognising intensifying geopolitical tensions, the Government has confirmed its earlier announcements to invest in upgrading defence capabilities as part of the National Defence Strategy released earlier this year. The additional $50.3 billion over ten years – which the Government announced in April – has been confirmed in this Budget to deliver the Strategy. This includes accelerating investments in autonomous defence systems and upgrading the Royal Australian Navy’s surface combatant fleet.

Diplomatic and trade engagement with Southeast Asia and the Pacific has been prioritised in the Foreign Affairs and Trade portfolio, which includes $206.5 million over four years from 2024-25 to enhance Australia’s presence in the Pacific. In the Home Affairs portfolio, additional funding has been provided to Australia’s national intelligence community to disrupt foreign espionage operations, while the anti-money laundering and counter-terrorism finance (AML/CTF) regime will be expanded in the Attorney General’s portfolio.

Key measures

  • An additional $50.3 billion over ten years from 2024-25 to deliver and implement the 2024 National Defence Strategy and the Integrated Investment Program (IIP).
  • $1 billion over five years from 2023-24 (with $210.8 million per year ongoing) to establish and support the new Administrative Review Tribunal (ART), replacing the Administrative Appeals Tribunal (AAT).
  • $505.9 million over five years from 2023-24 (and $118.3 million per year ongoing) to support closer ties with Southeast Asia as per the Government’s Invested: Australia’s Southeast Asia Economic Strategy to 2040.
  • $232.2 million over three years from 2023-24 to support regional and global peacekeeping efforts, including $144.3 million over two years to assist Ukraine in its conflict with Russia.
  • $188.5 million over four years from 2023-24 to the Australian Border Force to continue its multi-jurisdictional response to the illicit tobacco trade.
  • $168.0 million over four years from 2024-25 to strengthen and expand Australia’s Anti-Money Laundering and Counter-Terrorism Financing regime.
  • $166.2 million over five years from 2023-24 to support the implementation of the Defence Industry Development Strategy, including $165.7 million over five years to support defence industry through the Defence Industry Development Grant program.
  • $161.3 million over four years from 2024-25 to implement a National Firearms Register.
  • $138.7 million over four years from 2024-25 (and $18.9 million per year ongoing) to continue providing disaster support. Funding will include $73.3 million over four years from 2024-25 for the National Emergency Management Agency.
  • $101.8 million over seven years from 2024-25 to support the delivery of Australia acquiring nuclear-powered submarines as part of the AUKUS pact.

Further reading

Health and Aged Care; Social Services

The Government has prioritised cost of living measures, and committed to funding that seeks to address the housing crisis through rent assistance and investment in social housing and homelessness services. Various other measures aim to support healthcare accessibility, such as increased capacity at Medicare Urgent Care Clinics and increased access to medicines. Additional funding is provided to support working parents and victim-survivors of family violence.

Key measures

  • $3.4 billion over five years from 2023–24 to fund new and amended listings on the Pharmaceutical Benefits Scheme (PBS) and the Repatriation Pharmaceutical Benefits Scheme.
  • $2.2 billion over five years from 2023–24 to deliver aged care reforms and continue to implement recommendations from the Royal Commission into Aged Care Quality and Safety.
  • $1.9 billion over five years from 2023-24 to increase the Commonwealth Rent Assistance maximum rate by 10 per cent.
  • $1.2 billion over five years from 2023–24 ($14.8 million per year ongoing) to strengthen Medicare; including $610.4 million to support the states and territories to respond to the long stay older patient challenge.
  • $1.1 billion over five years from 2023-24 to support the Paid Parental Leave scheme and women’s retirement outcomes.
  • $1 billion in 2023-24 to deliver the new Housing Support Program, which will help states and territories develop infrastructure for new housing, and an increased role for Housing Australia.
  • $925.2 million over five years from 2023-24 to implement the Leaving Violence Program permanently to support victim-survivors of intimate partner violence.
  • $480.2 million over five years from 2023–24 to secure cheaper and more accessible medicines.
  • $468.9 million over five years from 2023-24 for the National Disability Insurance Scheme (NDIS).
  • $423.1 million over five years from 2024-25 for the new National Agreement on Social Housing and Homelessness, which will support state and territory social housing and homelessness services.
  • $227 million over three years from 2023–24 to increase capacity of Medicare Urgent Care Clinics, which will include 29 additional Medicare Urgent Care Clinics.

Further reading

Infrastructure, Transport, Regional Development, Communications and the Arts

Bolstering and expanding networks and projects in high density areas was the focus of the Federal Government’s infrastructure spending, with a majority of the additional infrastructure spending of $16.5 billion going towards existing projects. While road funding remains a priority, the Government committed an additional $3.2 billion to rail projects across the country. Within the communications portfolio, online safety and consumer protections on digital platforms were prioritised with significant spending on enforcement measures.

Key measures

  • $4.1 billion over seven years from 2024-25 for new priority infrastructure projects, including $1.9 billion for Western Sydney road and rail infrastructure.
  • $10.1 billion over 11 years from 2023-24 for existing infrastructure projects. This includes $3.3 billion for North East Link in Victoria, $1.4 billion for METRONET projects in Western Australia, and $1.2 billion for the Direct Sunshine Coast Rail Line in Queensland.
  • $1.7 billion in 2033-34 for existing road maintenance and safety programs.
  • $302.6 million over five years from 2024-25 for the Western Sydney International (Nancy-Bird Walton) Airport.
  • $237.7 million over seven years from 2023-24 for maritime and transport projects. including $78.8 million for the development of the business case for the Sydney to Newcastle high speed rail corridor.
  • $216.6 million over four years from 2024-25 for arts, entertainment, and cultural projects as part of the ‘National Cultural Policy – Revive’.
  • $154.5 million over six years from 2023-24 to implement the New Vehicle Efficiency Standard and provide a wider range of fuel-efficient vehicles. This includes $60 million over four years to support the installation of electric vehicle charging infrastructure at automotive businesses.
  • $100 million over four years from 2025-26 for an Active Transport Fund, to support walking and cycling path upgrades.
  • $67.5 million over four years from 2024-25 to continue to combat scams and online fraud under the Scams Code Framework, including $37.3 million to support the ACCC with enforcement under the code.
  • $7.9 million over two years to support online safety, including $6.5 million for age verification technologies.

Further reading

Employment and Workplace Relations; Education

The Federal Government has focused on tertiary education reform as part of its response to the Australian Universities Accord Final Report. A major feature of the reforms includes a retrospective lower indexation on HELP/HECS debt and providing a new payment for students on mandatory supervised placements in key industries such as nursing and teaching. Additionally, the Government will fund TAFE places for clean energy jobs and priority areas including construction under its ‘Future Made in Australia Strategy’.

Key measures

  • $427.4 million over four years from 2024–25 to establish a new Commonwealth Prac Payment of $319.50 per week.
  • $350.3 million over four years from 2024–25 to expand the FEE-FREE Uni Ready program, beginning January 2025.
  • $265.1 million over four years from 2024-25 to adjust Phase Two Initiative System payments to increase support for apprentices and trainees in priority occupations.
  • $239.7 million over five years from 2023–24 to limit indexation of Higher Education Loan Program debt to the lower of either the Consumer Price Index or the Wage Price Index, retrospectively from 1 June 2023.
  • $91 million over five years to develop the workforce required for the transition to Net Zero, including facility upgrades, sector training opportunities and addressing shortages.
  • $8 million over three years from 2024–25 to support 20,000 new fee-free training places relevant to the construction sector.
  • $84.2 million over four years from 2024–25 to the Department of Education to increase audits of providers in the childcare sector.
  • $76.2 million over five years from 2023-24 to implement a voluntary prison to employment program for Indigenous Australians aged 15 years and over. This will replace the Time to Work Employment Service.
  • $68.6 million over five years from 2023–24 to increase resourcing for the contact centre to support people using Workforce Australia Online services.
  • $32.1 million over four years to support a Real Jobs, Real Wages pilot aimed at supporting those at risk of long-term unemployment via tapered payments.
  • $27.5 million for the Fair Work Ombudsman to administer wage underpayment following the passing of the Closing Loopholes legislation.

Further reading

Industry, Science and Resources

The Government has committed further support for the development of the critical minerals industry with a number of measures as part of the Future Made in Australia plan, including a Critical Minerals Production Tax Incentive. The Government also announced further support for Australia’s innovation, science, and digital capabilities, including resources for the mapping of national groundwater systems and resource endowments. The Government has also announced a significant investment in the management and disposal of radioactive waste as well as the affordability of nuclear medicines.

Key measures

  • $7.1 billion over 11 years from 2023-24 (and an average of $1.5 billion per year from 2034-35 to 2040-41) to support the refining and processing of critical minerals, as part of the Future Made in Australia agenda. This will include $7 billion over 11 years from 2023-24 for a Critical Minerals Production Tax Incentive from 2027–28 to 2040–41 to support downstream refining and processing of Australia’s 31 critical minerals and $10.2 million in 2024–25 for pre-feasibility studies for critical mineral common-user processing facilities in partnership with state and territory governments.
  • $1.7 billion over ten years from 2024-25 for investments in innovation, science, and digital capabilities to support Future Made in Australia. This funding includes $566.1 million over ten years from 2024-25 for Geoscience Australia to map Australia’s national groundwater systems and resources; $466.4 million for a financing package of equity and loans provided to support quantum computing capabilities and associated investment in industry and research development in Brisbane as part of a joint investment with the Queensland Government; and $145.4 million over two years from 2024-25 to maintain the National Measurement Institute’s core scientific measurement and ICT capabilities.
  • $46.9 million over four years from 2024-25 to support the development of industries in Australia and maintain the affordability of nuclear medicines. This will include $25.9 million over two years from 2024-25 to the Australian Nuclear Science and Technology Organisation to produce affordable nuclear medicines.
  • $43 million over six years from 2024-25 to the Australian Radioactive Waste Agency to continue activities around identifying radioactive waste disposal pathways. This will include $38.8 million over two years from 2024-25 to assess options for disposal of the Commonwealth’s radioactive waste.
  • $39.9 million over five years from 2023-24 for the development of policies and capability to support the adoption and use of artificial intelligence (AI) technology. This will include $21.6 million over four years from 2024-25 to establish a reshaped National AI Centre (NAIC) and an AI advisory body.
  • $29.7 million over three years from 2023-24 to improve environmental safety outcomes in the offshore resources sector. This will include $20 million in 2024-25 for the National Offshore Petroleum Safety and Environmental Management Authority.

Further reading

Climate Change, Energy, the Environment and Water; Agriculture, Fisheries and Forestry

The Government has prioritised energy bill relief for every Australian household and eligible small businesses to reduce cost of living pressures, as well as investments that support the clean energy transition by progressing its Future Made in Australia agenda. The Government has also announced it will provide climate-resilient support to farmers and regional communities with programs that help prepare them for future droughts, with increased funding for water policy functions and its Nature Positive Plan.

Key measures

  • $19.7 billion over ten years from 2024-25 to progress investment in the Future Made in Australia priority industries. This includes $8 billion for the production of renewable hydrogen, $1.5 billion over seven years from 2027-28 for the Australian Renewable Energy Agency, $1.7 billion for the Future Made in Australia Innovation Fund and $1.4 billion over 11 years from 2023-24 for clean energy technologies manufacturing such as battery and solar.
  • $3.5 billion over three years from 2023-24 to deliver a $300 rebate to all Australian households and a $325 rebate for eligible small businesses by expanding the Energy Bill Relief Fund.
  • $519.1 million over eight years from 2024-25 for the Future Drought Fund to support climate-resilient programs which will assist farmers and regional communities to prepare for upcoming droughts, including $132 million to continue the ‘Drought Resilience Adoption and Innovation Hubs’ model.
  • $290.5 million over five years from 2023-24 to continue the Australian Antarctic Program, including $163.3 million over the forward estimates for the Macquarie Island research station rebuild.
  • $262.2 million over five years from 2023-24 to support water policy functions, including $217.3 million over the forward estimates to provide resourcing for the delivery of the Murray-Darling Basin Plan.
  • $182.7 million over eight years from 2023-24 to support approvals processes as part of the Government’s Future Made in Australia agenda and to support the net zero transition, including $96.6 million over the forward estimates for environmental approvals processes.
  • $174.6 million over six years from 2024-25 for new water infrastructure projects, including $119.6 million for five construction projects for agriculture, town water supplies, and water recycling.
  • An additional $40.9 million over two years from 2024-25 for the Nature Positive Plan, including $17.6 million over two years for the establishment of the Nature Repair Market.

Further reading

 

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