BUDGET 2026: RESILIENCE AND REFORM FOR BALLARAT

Tonight, the Albanese Labor Government has handed down a Budget that delivers for people living in Ballarat and surrounds.

It is focused on getting local workers, families and businesses through the global oil shock and building an economy that works for more people.

The Government is delivering more tax relief for 13.3 million workers, helping more people realise the dream of home ownership and creating a fairer and more sustainable tax system for all Australians.

Over 13 million Australian workers will benefit from the Albanese Government’s new Working Australians Tax Offset (WATO) in 2027–28, including around 3.4 million in Victoria.

These new tax cuts mean that, on top of Labor’s existing tax cuts and a new $1,000 instant tax deduction being introduced next financial year, an average Australian worker could benefit by up to almost $3,000 by 2028.

The Albanese Government is also reforming how capital gains tax and negative gearing work to help 75,000 extra homeowners into the market.

This builds on the Government’s work over the last four years to build more homes, including a $9.4 million investment from Round 1 of the Housing Australia Future Fund for 24 new homes in Ballarat.

The Albanese Government is also making healthcare more affordable and accessible, including making medicines cheaper and making Medicare Urgent Care Clinics (UCCs) a permanent feature of our health system.

There have been over 50,000 visits to the Ballarat Medicare UCC and over 2.8 million Cheaper Scripts have been filled in Ballarat under Labor's Cheaper Medicine Policies.

Additionally, there are now 31 Medicare Bulk Billing practices in Ballarat which is an increase of 14 since Labor's changes. 

The Budget also includes a $25 billion Commonwealth investment in public hospitals, which will flow through to hospitals like the Ballarat Base Hospital.

The Budget also includes important relief for small businesses – the backbone of the Ballarat economy.

Labor is making the $20,000 instant asset write-off permanent from next year so that small businesses have the confidence to invest. Around 1.2 million businesses in Victoria will be eligible.

This Budget also delivers cost of living relief at the bowser committing $2.9 billion to more than halve the fuel excise and slash the heavy vehicle road user charge to zero for three months to 30 June 2026.

The Albanese Government continues to invest in community infrastructure with $750 million over the next four years for the Growing Regions and Thriving Suburbs programs.

The 2026 Budget is all about building a stronger, more resilient economy that works for more people, which will mean a better economy for people in Ballarat.

Quotes attributable to the Member for Ballarat Catherine King: 

“Through this Budget we’re providing cost of living relief and embedding our reforms to Medicare, ensuring that healthcare is affordable and accessible.

“1678 people have bought their first home in Ballarat thanks to Labor’s 5% Deposit Scheme, but there’s more to do. Through our reforms to housing, we’re putting homeowners first and helping more people get into the housing market.

“Tonight’s Budget builds on a fairer and more sustainable tax system for all Australians. “