The View | The 2024-25 Federal Budget

Whilst this View is focused on the charts and tables produced by Treasury in the FY25 Budget papers, I must start with a cautionary note. Treasury is good at reporting what has happened in Australia and presenting short-term forecasting for the world economy, but they are notoriously poor at forecasting budget outcomes. 

Key forecasts can be summarised as: 

. Low household consumption growth; 

. Low dwelling investment and therefore housing starts; 

. Wages growth to show moderate real growth (i.e. above inflation); 

. Terms of trade to deteriorate (a trade deficit to appear in FY26); 

. Net immigration to slow (but still adding 1% to the population in FY25). 


Read the full article here: The 2024-25 Federal Budget – Commentary by John Abernethy