Today, South Australian Treasurer the Hon. Stephen Mullighan delivered the final budget before the 2026 State Election. In a show of confidence, the Budget doesn’t carry the usual hallmarks of a pre-election pitch. Instead, it maintains focus on sustained investment in health and policing. As has become the norm, most of the major announcements had already been released in the lead-up, leaving few surprises on the day. 

The Treasurer used his speech to frame the Budget as a platform for re-election, reflecting that “the business of government is never complete.” He highlighted a turnaround in South Australia’s economic standing, noting how he and Premier Peter Malinauskas have taken the state from “laggard to leader.” 

Law and order features prominently, with more than $170 million committed over six years to recruit 243 additional sworn police officers by 2028–29, and a further 83 by 2030–31, marking the largest increase to police numbers in state history. The Budget also includes $31 million for police infrastructure, $30 million for security officers, and $12 million for recruitment. 

On health, the Government will inject a further $1.9 billion over five years, bringing total investment to $9 billion since coming to office — a continuation of its 2022 election commitment to address ambulance ramping. 

Cost of living relief is more limited, with $118.3 million to extend the $200 government school materials and services discount for four more years, and a permanent reduction in the 28-day student metroCARD to $10 from 1 July. 

The Budget includes targeted support for Whyalla, drought-affected farmers and dairy producers impacted by the collapse of Beston Global Food Group. The state’s flagship Hydrogen Jobs Plan remains in the forward estimates, though as a deferred project. 

Despite talk of stability, the forecast $201 million surplus has narrowed to just $18 million after new spending commitments. The 2025–26 surplus has been revised from $449 million to $179 million. State debt is now projected to reach $48 billion by 2027–28, with a debt-to-revenue ratio of 136.7 per cent. 

Curtis Road in Munno Para received $125 million for level crossing removal, matching the Commonwealth’s commitment. In an interview with The Advertiser, the Treasurer flagged a restrained capital pipeline, noting that “both now and in the election campaign, we’re not going to see significant new commitments to infrastructure or capital spending.” 

Several major projects — including the Northern Water Supply Project and the new Women’s and Children’s Hospital — remain under consideration with no new funding allocated.