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Australia saves $20B over four years via budget cuts and program reforms, including a scaled-back home battery scheme.
The Australian government has identified $20 billion in savings over four years through a mid-year budget update, helping contain rising costs in key programs, including a home battery scheme that increased from $2.3 billion to $7.2 billion—avoiding a projected $14 billion without policy changes.
Savings come from reduced consultant and labor hire spending, reverting social security deeming rates to pre-pandemic levels, and reforms at the Department of Veterans’ Affairs.
Treasurer Jim Chalmers and Finance Minister Katy Gallagher emphasized fiscal responsibility and the sustainability of essential services.
Opposition finance spokesman James Paterson criticized project management, questioning the value of climate initiatives that exceed original cost estimates and warning taxpayers bear the financial burden.
Australia ahorra $ 20B en cuatro años a través de recortes presupuestarios y reformas de programas, incluido un esquema de baterías domésticas a escala reducida.