Overview
The 2026–27 National Budget was presented to Parliament by Hon. David Adeang MP, President and Minister for Finance, on 20 July 2026, under the theme “Capitalising on the Current High Revenue Environment: Investing in the People and a Productive Future”. The main appropriation became effective from 21 July 2026, following a Supply Budget covering 1–20 July 2026.
A Supply Budget was in place from 1 to 20 July 2026 to allow Government time to finalise key negotiations on the main appropriation. Expenditure authorised during the supply period was formally charged against the full-year Appropriation Act once it passed.
The budget projects total revenue of AUD $359.2 million and total expenditure of AUD $359.0 million, resulting in a net fiscal surplus of AUD $0.2 million (0.1% of GDP). Most Government revenue is derived from external sources (58%), and the Government maintains strict fiscal responsibility ratios covering budget balance, personnel costs, and the fiscal cash buffer.
What’s new in this year’s budget papers
Budget Papers 1 and 2 feature new and expanded narratives this year, for greater transparency and strategic foresight:
- A review of fiscal performance for FY2025–26.
- A new Medium-Term Debt Strategy (2026–2030), required under the new Government Debt Act.
- A dedicated section in BP1 on Central Treasury (overall) fiscal risks.
- A detailed analysis of fiscal risks relating to public enterprises, covered in BP2 Part III: PEMU and Public Enterprises.
Key allocations
- Education — $28.4M
- Health — $22.1M
- Infrastructure — $18.6M
- Social Welfare — $12.3M
Financial position highlights
- Intergenerational Trust Fund: AUD $300.7M (March 2026), target AUD $1B+ by 2034
- Cash reserves: AUD $148.7M, providing 2+ months of operating buffer
- Public debt: AUD $6.5M (2.3% of GDP) — very low risk, aircraft loan fully prepaid May 2026
- Net financial worth: 204.9% of GDP, projected to reach 288.4% by 2032-33
Budget documents
- Budget Paper 1 — 2026–27
- Budget Paper 2 — 2026–27
- Budget Speech — 2026–27
- Appropriation Bill — 2026–27
- Development Fund Projections — 2026–27
Supply Budget documents (1–20 July 2026)
Budget templates
Blank editable templates for departments to submit budget transfer and supplementary requests — not filled budget documents.