The 2023 Federal budget: How it might affect young people

9 May 2023

Written by: Sophie Neave

The Albanese government will deliver the budget tonight, with predictions of relief on inflation and the cost of living crisis.

The Australian Federal Budget is set to be delivered at 7:30 pm tonight, being the first budget surplus in 15 years, with effects on young people.

Some of the key features that are anticipated to be handed down by Treasurer Jim Chalmers include relief of inflation pressures, with focuses on health, care, and cost of living aid.

Young carers aged 12-15 who are taking on extra responsibilities will receive a cash boost of $768 so that they can continue their education.

The funding boost will be an estimated $10 million, with the number of bursaries offered over the 2023 to 2025 year-period set to increase by $1600 each year, as a result of the increased funding.

Minister for Social Services Amanda Rishworth said that this funding boost will increase the number of bursaries available by almost 60 per cent.

“The bursaries promote future financial security for many of our young carers across Australia,” Minister Rishworth said.

“We don’t want young carers missing out on their education or missing the opportunity to connect with friends.”

The government is taking strong action towards young people in order to reduce smoking, also enforcing vaping bans.

The budget will include $737 million to fund measures that will protects young people against the harmful effects caused by tobacco and vaping products.

Health Minister Butler said that vaping is creating a whole new generation of nicotine dependency in the community.

“It poses a major threat to Australia’s success in tobacco control and the Albanese Government is not going to stand by and let this happen,” he said.

The government has also announced that taxes on cigarettes are to be raised by 5 percent, totalling a $3.3bn, in a bid to decrease smoking more generally.

Photo: Group of friends hanging out by Helena Lopes available HERE and used under a Creative Commons license. This image has not been modified.