NDIS delays threaten $9b budget blowout
The Albanese government is facing the prospect of a budget blowout as almost $9 billion worth of savings earmarked from the National Disability Insurance Scheme are delayed or at risk.
The March budget factored in $19 billion of savings related to the NDIS over the next four financial years, $8.8 billion of which now look uncertain. The savings hinge on the government overhauling how participant budgets are set and the states striking a funding deal with their federal counterparts within months, both of which are unlikely to happen.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
West Australian
22 minutes ago
- West Australian
Australian news and politics live: Albanese travelling to G7 summit without Trump meeting confirmation
Scroll down for the latest news and updates. Before Anthony Albanese took off, the Australian Prime Minister shared his thoughts for 'everyone affected' by the deadly Air India plane crash. 'The news of a passenger plane crash in Ahmedabad is absolutely devastating,' he wrote on X. 'In this time of tragedy, Australia's thoughts are with everyone affected. 'Our government is receiving regular updates and we will continue to monitor the situation closely.' Prime Minister Anthony Albanese is travelling to Canada and the United States, where he will meet with world leaders; however, a meeting with US President Donald Trump remains in limbo. Mr Albanese will first travel to Fiji, where he will meet Fijian Prime Minister Sitiveni Rabuka, before continuing to Canada. On the sidelines of the G7 summit in Kananaskis, Canada, Mr Albanese is expected to meet new Canadian Prime Minister Mark Carney, Japanese Prime Minister Shigeru Ishiba and UK Prime Minister Sir Keir Starmer as well as others. However, it is a meeting with Mr Trump that Mr Albanese may be hoping for most. On Thursday, the Pentagon launched a review of AUKUS to ensure it aligned with Mr Trump's 'America First' agenda. The Republican president has never publicly voiced his support for AUKUS.
AU Financial Review
32 minutes ago
- AU Financial Review
ASX to rise, Wall St up on muted PPI, oil tops $US70 late
Australian shares are poised to open higher after shares closed modestly higher in New York following another muted price report, though there are signs that the US labour market is starting to lose momentum. Brent Crude edged above $US70 a barrel late in New York's trading day. It traded modestly lower for most of the session despite President Donald Trump saying he sees 'a chance of a massive conflict' between Israel and Iran, though he said he did not see that as 'imminent'. The producer price index rose 0.1 per cent from a month earlier. The median forecast in a Bloomberg survey of economists called for a 0.2 per cent increase. Excluding food and energy, the PPI also increased 0.1 per cent. 'Although we expect tariffs to eventually lead to higher inflation, repeatedly soft inflation prints could suggest weaker-than-expected tariff pass-through,' Evercore ISI's Krishna Guha said. That marginally reduces upside risk to inflation and lowers 'a bit the bar for the extent of labour market weakness the Fed would need to see to cut in September', Guha also said. US equities ended higher in a broad advance, with utilities pacing eight of the S&P 500's 11 industry sectors higher. Boeing slid 4.8 per cent, recovering from an opening drop after one of its aircraft crashed in India. Market highlights ASX futures are pointing up 47 points or 0.6 per cent to 8606. All US prices near 4.55pm New York time (6.55am AEST). Friday's agenda Friday marks the end of a quiet week for local data, with May's BusinessNZ's manufacturing purchasing managers' index the highlight. Later on Friday, both Germany and France will release consumer price index data. The University of Michigan will release a preliminary June sentiment report at midnight. Top stories Victoria uses 13pc of entire year's gas budget in just three days | Breakdowns at a major coal power plant and weak renewable energy generation have left the state running down its stores faster than expected in a cold winter. Government holds tough on defence amid AUKUS threat | The Albanese government says the defence budget will not be used as a negotiating tool with allies. | Anthony Albanese's approach with US President Donald Trump is to neither beg nor be bullied, writes Phillip Coorey. But this is a very different America from the one he visited just two years ago. | The Albanese government could raise a $50 billion tax on fossil fuel exports and up the GST to lower company and income taxes, the former Treasury head argues.
Sky News AU
2 hours ago
- Sky News AU
Prime Minister Anthony Albanese to meet Donald Trump and deliver major defence funding announcements amid AUKUS scare
Prime Minister Anthony Albanese is set to fly to the US for a critical meeting with President Donald Trump and deliver major defence funding announcements as a Pentagon-led snap review threatens the AUKUS nuclear submarine deal. On Thursday, the US announced a formal review of the more than $350 billion AUKUS arrangement after the Albanese government resisted demands to lift defence spending to 3.5 per cent of GDP. According to The Australian, Mr Albanese will fly out of Canberra on Friday for a critical week-long trip which will take him to Fiji, Canada and the US. The trip marks the first time Mr Albanese will come face-to-face with President Trump. Mr Albanese will on Friday meet with Fijian Prime Minister Sitiveni Rabuka and is expected to shake hands on the sidelines of the G7 summit in Kananaskis, Canada, with Canadian Prime Minister Mark Carney, Japanese Prime Minister Shigeru Ishiba, British Prime Minister Keir Starmer, among others. The Pentagon's announcement to hold a 30-day snap review of the AUKUS nuclear submarine deal came as G7 leaders prepare to meet over the weekend. It will be led by Defence Under Secretary for Policy, Elbridge Colby, a vocal sceptic of the arrangement among Trump's senior policy officials. With increasing tensions between the US and Iran, it is understood President Trump is yet to confirm any bilateral meetings with foreign leaders, which includes Mr Albanese. However, The Australian reported government officials in Washington said a meeting between the pair was likely to proceed after Mr Albanese resisted calls to up defence spending. The outlet revealed there were concerns held by the Trump administration over giving nuclear submarines to a country which appeared unwilling to assist in any conflict which may involve Taiwan. Additionally, AUKUS has been viewed as 'Australia's idea' which is at odds with Trump's 'America First' outlook, with the onus on Canberra to now justify its existence. Defence Minister Richard Marles has defended the Albanese government's commitment to AUKUS after the Trump administration launched a review into the $368 billion deal. 'We are committed to AUKUS and we look forward to working closely with the US on the review,' Mr Marles said in a statement response to the US review. 'It is natural that the administration would want to examine this major undertaking including progress and delivery. 'Our engagement with the Trump administration and across the full political spectrum of the United States has shown clear and consistent support for AUKUS.' has contacted the Prime Minister for comment.
