The year in review
This year has seen the Parliamentary Budget Office (PBO) deliver a record volume of work in the lead up to the 2025 election, culminating in the publication of the 2025 Election Commitments Report (ECR). Our strong performance this year has been possible due to dedicated staff, careful planning, and strategic investments. Our systems and processes have been refined as we continue to improve our effectiveness and deliver value to the 48th Parliament.
Highlights for the year included:
- Publication of the 2025 ECR 48 days after the end of the caretaker period. The ECR provides information on the fiscal implications of commitments made by the major parliamentary parties and independents that opt-in. Dr Helen Haines MP, Member for Indi, opted in to the ECR for a second time.
- Completing the highest number of election costings since the PBO was established. The 2025 ECR included 601 election costings, higher than previous ECRs in 2022 (316 costings), 2019 (427 costings), 2016 (487 costings), and 2013 (366 costings).
- Delivering a record 1,108 costings and budget analyses (with 2,680 options) in 2024–25 in a timely manner, whilst maintaining quality. Over the full period of the 47th Parliament, 2,069 costings (with 5,115 options) were delivered (not including election commitment costings).
- In 2024–25 we released 10 publications, supporting an improved understanding of the budget. We released the Guide to the 2025–26 Budget, Budget snapshots for 2024–25 MYEFO and the 2025–26 Budget, National Fiscal Outlook and Australia’s tax mix. We also recommenced the Unlegislated measures tracker and updated our interactive self-help tools including our innovative Small Model of Australian Representative Taxpayers (SMART) tool, and our popular Build your own budget to reflect the latest budget data.
- Extending our stakeholder outreach, which included engaging with parties and parliamentarians, providing drop-in sessions for our Budget Insights program, and partnering with the Parliamentary Library to deliver bespoke education opportunities. Our approach has been informed by our triennial stakeholder survey (completed in June 2024).
- Publishing election guidance notes, conducted presentations for parliamentarians and their staff and agencies to enhance our stakeholders’ understanding of what we do and how we work – particularly during an election period.
- Providing briefings, delivering presentations and undertaking broader engagement with international representatives, promoting the Australian Parliament and supporting international capability and capacity building.
- Continuing development and investment in our staff, including training on ECR activities and models to support timely delivery of our services.
- Using technology innovatively for data management, modelling, and tool development for election related work and laying the foundations for the 48th Parliament. These improvements promoted efficiencies, built organisational capacity and enhanced our approach to risk management.
Parliamentary Budget Officer’s year in review
"It is a privilege to present my first year in review as Parliamentary Budget Officer after a very busy 11 months in the role."
I would like to acknowledge the leadership of my predecessor, Dr Stein Helgeby, whose guidance and vision helped consolidate the reputation of the Parliamentary Budget Office (PBO) as a trusted commentator on fiscal issues for both parliamentarians and the public. I am honoured to lead the organisation into the 48th Parliament and look forward to strengthening the performance and positive reputation of the PBO.
The 2024–25 reporting year was a significant period for the PBO. It was marked by the delivery of the 2025 Election Commitments Report (ECR), and maintaining a flow of timely, relevant, and high-quality costings to support parliamentarians leading up to the
election. This work is central to our mission of enhancing transparency and accountability in Australia’s fiscal policy.
The 2025 ECR was delivered well within our legislative deadline, containing a record 601 election costings. A modernised suite of internal tools and systems coupled with sustained engagement with our clients and positive relationships with Commonwealth agency partners were essential to the delivery of this flagship product.
For parliamentarian requests, proactive client engagement and active management of requests in line with our prioritisation framework enabled us to continue to provide a responsive and high-quality service to parliament. We met our performance target of a median of 15 business days or fewer to complete parliamentarian requests. Due to high request volumes this was managed by negotiating with parliamentarians to have lower priority costings put on hold.
Beyond our election-related work we continued to undertake analysis on the budget and publicly release products that improve understanding of the budget and fiscal issues. The PBO published Build your own budget and the National Fiscal Outlook which received strong demand. In 2024–25 we released a comprehensive analysis of Australia’s tax mix, adding depth to the national conversation on revenue sustainability and economic equity.
Since joining the PBO, I have been consistently impressed by the calibre of our staff. Their expertise, commitment to parliamentary service, and collaborative spirit are the foundation of our success. I would like to extend my sincere thanks to our Commonwealth agency colleagues. The models, data and expertise that is shared in strict confidentiality under our legislation and Memorandum of Understanding are critical to our work, and their collegiate support and engagement are deeply appreciated.
The year ahead
The year ahead as the first year of a new term of parliament is foundation-building. I am confident that with the ongoing dedication of our team and the support of our stakeholders, we will continue to deliver on our mandate and contribute to a more informed and transparent fiscal landscape.
Our focus will be on 4 key areas:
- Strengthening our role as a trusted commentator on fiscal issues. Through our publications, as well as our costings work, we aim to provide clear, accessible, and authoritative insights that inform public debate and parliamentary decision-making.
- Enhancing our analytical foundations. Our costing and budget analysis work relies on numerous models and data requests which we assess to ensure our work is robust, evidence-based and current. In 2025–26 we will undertake strategic investments to uplift our analytical capabilities to deliver efficiencies and improve the timeliness of our work to help meet higher levels of demand over the term of the 48th Parliament.
- Enhancing our self-service tools. The interactive tools on our website empower and inform our clients and the public as well as supporting our costings and self-initiated publications program.
- Expanding engagement and education for parliamentarians and their staff. Our drop-in sessions, Budget Insights webinars and client relationship managers make our agency and our work more accessible and support the use of our key tools. Our focus will continue to be building understanding, fostering transparency, and supporting informed participation in the budget process.
Read the full report