CEO Update: Will the Federal Budget deliver the reform Australia needs?

This week brings the much-anticipated Federal Budget, hot on the heels of the Victorian and Western Australian Budgets.

We are pleased to see that this Budget looks set to include genuine reform, with tax and regulatory changes flagged, as well as spending to boost housing supply. Reforms to support productivity will be warmly welcomed as this is the lever by which Australia can build resilience to future shocks, lift living standards and create the fiscal capacity to deliver on our social compact. Significant changes to the NDIS, a still strong labour market and Australia's position as a net energy exporter will provide support for the bottom line, but with additional cost of living measures expected, close attention will be paid to net savings delivered.

We will release our full Budget analysis on Tuesday night. Building on the pre-Budget note we published earlier this month, CEDA will assess the Budget against fiscal discipline, productivity, a measured approach to economic security and policy consistency and coherence.

State Budgets last week delivered more cost-of-living support. Victoria announced a one-off 20 per cent vehicle registration rebate worth up to $186 per vehicle, along with free public transport in May and half-price fares for the remainder of the year. Western Australia delivered a $100 fuel credit for every driver's licence holder, a third round of its student assistance payment and the permanent extension of free Sunday public transport.

The desire to provide cost of living relief is understandable, but CEDA continues to advocate for measures to be targeted to those who need them most. Broad-based support risks adding to demand at a time when the Reserve Bank is working to reduce it. As the cash rate moves to restrictive territory the Reserve Bank’s immediate priority is preventing inflation effects from becoming entrenched through to wage-and-price setting decisions.

In other news, the Farrer by-election delivered a striking result, with One Nation taking the seat in a substantial swing against the Coalition. From CEDA's perspective, recent election results highlight the need to clearly understand community perspectives, One Nation’s policy agenda and ensure all Australians feel that they are connected to and beneficiaries of economic growth.

It was great to see so many of our members in Melbourne at our Climate and Energy Summit. Across the day, we heard that environmental approvals processes still stand in the way of our green transition. We were pleased therefore to see the Government announce $100 million in funding for the use of AI in approvals - exactly what CEDA called for in our recent research. Well executed, these changes should make a meaningful difference in expediting project approvals and the construction pipeline, while maintaining critical safeguards.

Join us in Brisbane on May 21 at our Health Delivery QLD conference as we explore practical, system-level solutions for building a more connected, adaptable and future-ready health system for Queensland.

Across three days in Canberra, State of the Nation will examine how we achieve sustainable, long-term prosperity for all Australians. With a speaker lineup including Prime Minister Anthony Albanese, Opposition Leader Angus Taylor, Woodside CEO Liz Wescott in her first public address and many other leaders and thinkers, join us on 24-26 June 2026 and be part of the conversation shaping Australia’s future.

And on October 27, join us for our fourth annual AI Leadership Summit in Sydney. This is the most influential AI event of the year, connecting executives, decision makers and thought leaders from across business, government and academia to advance Australia's AI ambitions for long-term prosperity.

To finish, I would like to warmly welcome The Royal Australian College of General Practitioners (RACGP) as new CEDA members. Thank you for joining us.