Overview

• Ex-Tropical Cyclone Alfred is projected to add $1.2 billion to the federal budget deficit, contributing to a total of $13.5 billion in disaster support allocations.
• The cyclone has caused significant economic disruption, including a billion-dollar hit to GDP, a potential quarter-percentage-point reduction in quarterly growth, and the loss of 12 million work hours.
• Treasury forecasts indicate a worsening fiscal outlook, with a $26.1 billion underlying cash deficit and net debt rising to 23.9% of GDP by 2027/28.
• Labor has announced new funding for women’s health and plans to expand transparency in healthcare costs, while also defending its fiscal management against criticism from economists and the opposition.
• Polling suggests Labor's focus on Opposition Leader Peter Dutton’s leadership is resonating with voters, as his personal ratings decline and Labor gains ground in pre-election surveys.