Parliamentary Budget Officer’s year in review
"It is a privilege to present my second annual report as the Parliamentary Budget Officer.
The 2025–26 year was an important year for the Parliamentary Budget Office (PBO) as we supported the commencement of the 48th Parliament and responded to strong demand for our services. Throughout the year, we helped parliamentarians and their staff access information on the budget through a coordinated program of online and in person presentations, information sessions, webinars, drop-in sessions, individual briefings and training. Initiatives included a showcase for staff of the Department of the House of Representatives, participation in Senate School and an introductory session on the budget.
In 2025–26, we received 326 requests for costing and budget analysis services, 20 per cent more than during the equivalent period following the 2022 election. This demand reflects the continuing value parliamentarians place on the PBO’s independent and non-partisan advice.
The year also provided an opportunity to reflect on our performance and future direction. The Independent post-election review found that the PBO is performing well and identified opportunities to further develop the support we provide to Parliament. We have begun implementing reforms in response to the review’s recommendations, while continuing to enhance our data capability, performance frameworks and workflow management systems.
During 2025–26 we invested in the long-term quality and sustainability of our analytical capability. Investing time in enhancing our costing models, in improved documentation and in strengthening the analytical foundations of our work.
Alongside our services to parliamentarians, we continued to deliver a range of self-initiated publications and tools. Publications in 2025–26 included the National Fiscal Outlook, Budget Snapshot, and Medium-Term Budget Outlook (MTBO). We have also updated and enhanced our online data and tools: Historical Fiscal Data series, Build your own budget (BYOB) and Small Model of Australian Representative Taxpayers (SMART).
In 2025–26, we expanded our range of public-facing products with a number of Policy Costing Analysis papers and costing concept explainers. Designed for parliamentarians, their staff and the public, these products make policy costing more visible, practical and accessible by explaining how costings are prepared, how policy design choices affect the budget, and why fiscal impacts can change over time.
During this year we also continued our engagement with domestic and international partners, including the International Monetary Fund (IMF), the Organisation for Economic Co-operation and Development (OECD), and peer fiscal institutions across the Asia-Pacific region. These relationships provide valuable opportunities to share knowledge and continuously improve our work.
Internally, we strengthened organisational transparency, accountability and staff engagement. We streamlined reporting arrangements and acted on staff feedback to improve consultation processes and access to information. These initiatives support a culture of continuous improvement and help ensure the PBO remains responsive, relevant and well positioned for
the future.
The PBO’s success relies on the professionalism and dedication of our people. Since joining the organisation, I have been impressed by the expertise, commitment to service and collaborative spirit demonstrated by our staff. This commitment is reflected in our staff census results, in which 95 per cent of staff participated and 98 per cent of respondents expressed a strong belief in the PBO’s purpose and objectives.
I would also like to thank our colleagues across Commonwealth agencies for their continued cooperation and support. The models, data and expertise shared with the PBO under our legislative arrangements and memorandum of understanding are critical to the quality and integrity of our work. Their engagement is essential to our delivery of high-quality services to Parliament and supports greater transparency and accountability in Australia’s fiscal policy.
The year ahead
In the year ahead, we will continue implementing the recommendations of the Independent post-election review, expand our suite of publications, and continue our work to strengthen the PBO’s analytical capability. We will also begin preparations for the next federal election, ensuring we are ready to provide timely, high-quality and independent support to parliamentarians throughout the election period.
The PBO will continue to build our reputation as an independent and trusted institution that improves fiscal and policy debate, makes costings and analysis more transparent and accessible, and maintains a high-performing and healthy organisational culture.