The Latest Breaking News from Federal Budget

In 2023, the US government brought in $4.47 trillion and spent $6.16 trillion.

The Congressional Budget Office reports the 2024 budget deficit will near $2 trillion.

The Australian mining industry was promised billions of dollars in last week’s federal budget to boost critical minerals such as lithium, copper and rare earth metals. This includes tax incentives, an innovation fund and money for Geoscience Australia to map these resources.

Last week’s federal budget committed A$12.5 million over four years to deliver tampons, pads and other period care products to people who menstruate in rural and remote Indigenous communities.

Production tax incentives unveiled in the federal budget are expected to benefit places like Gladstone and help them secure a spot in the net zero economy.

Leading music organisations have praised the federal budget for its investment in the live music sector.

The 2024 federal budget contains A$110 million for Indigenous education. This includes funding for various different organisations to represent and help Indigenous people as well as scholarships in a bid to close the gap between Indigenous and non-Indigenous learning and achievement.

Federal budget leaves country and regional councils, and their ratepayers, begging again

HIV prevention was allocated A$43.9 million over three years in this week’s federal budget. Some $26m of this is for “PrEP” for people without access to Medicare.