The Treasurer delivered the Federal Budget on Tuesday 12 May 2026. This overview outlines the key budget initiatives, and presents the international and domestic economic outlook. The Budget aims to get Australia through the global oil shock and take pressure off Australians, while continuing to build a stronger economy, better tax system, fairer housing market and a more sustainable budget.

Budget themes

• Fuel supply and security
• Cost of living
• Productivity
• Tax reform
• Care and opportunity
• Security and investment.

Key initiatives

• Reserving 20% of gas exports for Australians.
• $2 billion for local housing infrastructure.
• Securing the NDIS for future generations by restoring it to its original intent of supporting people with permanent and significant disability.
• $1.8 billion to make Medicare Urgent Care Clinics permanent.
• Releasing $1.1 billion to support domestic production of low emissions fuels.
• $63.8 billion of savings and reprioritisations.