Overview

• Speakman called the $128 billion budget a “Band-Aid” that papers over housing, cost-of-living and infrastructure challenges.
• He branded the forecast surplus in 2028 “phony” and warned that public infrastructure investment is set to decline as a share of the economy.
• Treasurer Daniel Mookhey introduced a $1 billion housing development fund backed by a developer guarantee scheme.
• The budget forecasts 240,000 new housing completions by 2029, falling short of the national target of 377,000 homes.
• The Opposition leader pledged to ease taxes and charges on new homes and unlock revenue from payroll, stamp duty and other levies to boost supply.