Federal Budget
2022 - 2023

Business Analysis


Dr Jim Chalmers has handed down his first Budget as Treasurer, with a focus on delivering the Government’s election commitments while containing the fiscal deficit. The economic forecasts suggest a challenging outlook for businesses, with GDP growth expected to slow while inflation remains elevated.  

  • New Housing Accord between government, investors and industry will see an initial $350 million invested to kickstart the delivery of one million new homes across the country over five years from 2024
  • NBN connectivity will improve on the back of a $2.4 billion investment that will benefit 1.5 million homes with full fibre provision (330,000 of which are in NSW)
  • Energy efficiency grants program worth $62.6 million will help SME improve energy efficiency and reduce energy use
  • Budget Savings of $21 billion over 4 years by removing previous Coalition programs, and $3.6 billion from cutting government spending on labour hire, advertising, travel and legal costs.
  • Budget Deficit of $36.9 billion assisted by a short term $40 billion revenue boost from commodity prices.
  • Stage-3 personal tax cuts to remain for now.