Coalition

Detailed financial tables

 

The following tables provide a detailed breakdown of the financial impacts of the Coalition's election platform over the medium term. Table 4‑5 shows impacts on a cash accounting basis (underlying cash and headline cash balances) and Table 4‑6 on an accrual basis (fiscal balance). Table 4‑7 shows the impact on government debt.

Table 4-5: Detailed financial implications of the Coalition's election commitments, cash basis ($ billion)

 

2025
-26

2026
-27

2027
-28

2028
-29

2029
-30

2030
-31

2031
-32

2032
-33

2033
-34

2034
-35

2035
-36

Total to
2028-29

Total to
2035-36

Receipts

Net impact

-13.0

-7.5

3.5

4.5

4.7

1.3

-4.9

-13.2

-23.2

-33.2

-46.3

-12.4

-127.2

Final receipts

722.4

758.4

800.9

845.3

897.0

948.4

997.8

1,048.8

1,101.6

1,156.6

1,213.9

3,127.2

10,491.2

Payments (excluding PDI)

Net impact

6.4

1.8

2.9

3.4

7.8

1.5

-1.9

-6.5

-11.2

-17.0

-17.2

14.5

-30.0

Final payments

-743.2

-769.4

-794.8

-836.2

-883.6

-926.4

-978.0

-1,036.3

-1,093.6

-1,152.8

-1,211.0

-3,143.7

-10,425.3

Public debt interest (PDI)

Net impact

0.9

0.9

1.1

1.6

2.2

2.8

3.1

3.1

2.8

2.2

1.0

4.4

21.6

Final PDI

-27.0

-29.2

-35.7

-36.7

-40.0

-50.2

-55.6

-61.7

-61.5

-64.6

-66.4

-128.5

-528.5

Underlying cash balance (UCB)

Net impact

-5.7

-4.8

7.5

9.5

14.7

5.6

-3.7

-16.6

-31.6

-48.0

-62.5

6.6

-135.6

Final UCB

-47.9

-40.2

-29.6

-27.5

-26.5

-28.2

-35.8

-49.2

-53.5

-60.8

-63.5

-145.0

-462.6

Net cash flows from investments in financial assets for policy purposes

Net impact

4.0

4.3

4.7

4.8

2.0

-2.3

-3.6

-4.3

-5.3

-7.4

-9.3

18.3

-12.0

Final cash flows

-19.1

-18.5

-15.2

-14.2

-10.8

-12.9

-12.9

-12.1

-14.7

-17.2

-19.7

-66.5

-166.7

Headline cash balance (HCB)

Net impact

-1.7

-0.6

12.2

14.3

16.7

3.3

-7.3

-20.9

-36.9

-55.4

-71.9

24.9

-147.6

Final HCB

-67.0

-58.7

-44.9

-41.7

-37.3

-41.1

-48.7

-61.3

-68.2

-78.0

-83.1

-211.5

-629.3

Source: 2025 PEFO and PBO analysis.
Note: A positive impact on the budget balance indicates an increase in receipts or a decrease in payments. A negative impact on the budget balance indicates a decrease in receipts or an increase in payments. Figures may not sum to totals due to rounding.

Table 4-6: Detailed financial implications of the Coalition's election commitments, accrual basis ($ billion)

 

2025
-26

2026
-27

2027
-28

2028
-29

2029
-30

2030
-31

2031
-32

2032
-33

2033
-34

2034
-35

2035
-36

Total to
2028-29

Total to
2035-36

Revenue

Net impact

-12.6

-7.2

3.9

4.8

4.7

-2.7

-9.7

-19.0

-29.6

-39.9

-53.9

-10.5

-160.5

Final revenue

737.7

776.4

819.4

867.4

918.3

967.0

1,017.5

1,069.6

1,123.6

1,179.8

1,238.4

3,201.3

10,715.6

Expenses (excluding PDI)

Net impact

7.9

1.4

3.3

3.9

8.3

2.1

-1.2

-5.8

-10.5

-16.3

-16.5

26.7

-13.2

Final expenses

-747.9

-773.9

-806.4

-847.5

-895.5

-938.4

-989.2

-1,047.3

-1,105.0

-1,164.4

-1,222.8

-3,165.5

-10,528.1

Public debt interest (PDI)

Net impact

1.1

0.9

1.1

1.7

2.4

2.9

3.1

3.1

2.7

2.0

0.8

4.9

21.9

Final PDI

-37.6

-39.5

-44.0

-46.7

-50.8

-62.9

-69.4

-76.7

-76.9

-80.7

-83.0

-167.7

-668.0

Fiscal balance(a)

Net impact

-3.6

-4.9

8.4

10.4

15.4

2.3

-7.8

-21.7

-37.3

-54.2

-69.6

21.1

-151.8

Final fiscal balance

-47.8

-37.0

-31.0

-26.8

-28.0

-34.3

-41.1

-54.4

-58.2

-65.3

-67.3

-131.9

-480.5

Source: 2025 PEFO and PBO analysis.
Note: A positive impact on the budget balance indicates an increase in revenue or a decrease in expenses. A negative impact on the budget balance indicates a decrease in revenue or an increase in expenses. Figures may not sum to totals due to rounding.
(a)    Fiscal balance impacts in individual years do not sum to the totals to 2028‑29 and 2035‑36 as the totals include a $10.7 billion impact in 2024‑25 for the election commitment Student HELP changes - not proceeding (ECR-2025-2230).

Table 4-7: Detailed financial implications of the Coalition's election commitments, gross and net debt ($ billion)

 

2025-26

2026-27

2027-28

2028-29

2029-30

2030-31

2031-32

2032-33

2033-34

2034-35

2035-36

Gross debt  

Net impact

-14.9

-9.4

-21.5

-35.9

-52.5

-55.7

-48.2

-26.4

12.2

70.8

147.3

Final gross debt

1,007.1

1,082.6

1,139.5

1,187.1

1,240.1

1,297.1

1,356.2

1,413.5

1,483.8

1,561.4

1,651.3

Net debt 

Net impact

-8.0

-4.1

-13.4

-24.4

-39.2

-42.3

-34.4

-12.3

26.6

85.7

163.3

Final net debt

612.6

672.1

700.5

743.8

793.7

831.3

874.6

920.4

976.9

1,042.3

1,112.5

Source: 2025 PEFO and PBO analysis.
Note: A positive impact indicates an increase in debt levels. A negative impact indicates a decrease in debt levels. Figures may not sum to totals due to rounding.