Today the Treasurer, the Hon Stephen Mulligan MP, handed down the 2024-25 State Budget, aligning with the government’s priorities of housing, cost of living relief, jobs, skills and health.

Key highlights in the budget include:

• $2.3 billion combined funding from the State and Commonwealth Government’s for skills and training under the National Skills Agreement to provide the jobs of the future. This includes funding to increase the quality and number of training places for priority sectors, increase the VET workforce and support the state’s workforce planning and defence industries pathways programs.
• An additional $2.5 billion in health over five years including $742.3 million to boost resourcing and meet activity demand pressures in the public health system, a $58 million injection into the SA Ambulance Service and a $30 million commitment to build 56 extra beds across the Queen Elizabeth and Lyell McEwin hospitals next year.
• Just over $266 million in cost-of-living relief including a once-off additional ‘Cost of Living Concession’ payment for eligible recipients and increased Cost of Living Concession for tenants and Commonwealth Seniors Health Card owners and an expansion of the sports voucher program.
• Nearly $200 million to support the economy including $28 million over four years to Strengthen the South Australia’s green economic credentials, $24.4 million over five years to support the agriculture sector to reduce emissions and $20.8 million over four years to accelerate adoption and consumer awareness of a distinct South Australian destination brand. There is also $14 million over four years to expand the Business Events Fund and $6 million to extend the investment attraction program.
• $843.6 million housing package to deliver 2,383 new homes and abolishing Stamp Duty for all first home buyers who buy or build a new home and extension of the First Home Owner Grant to all eligible first homebuyers.
• $715 million over five years to implement universal three-year-old preschool and other key recommendations from the Royal Commission into Early Childhood Education.
• More than $250 million for new school infrastructure, including a new preschool and primary school in Mount Barker, a new high school in the northern suburbs and facility upgrades for a number of schools.
• Nearly $76 million on the arts and key events including a new $20.7 million arts investment fund, new accommodation for the State Theatre Company, State Opera and Country Arts South Australia, and the renewal of an ABC and SA Film Corporation partnership.
• Continued investment in road safety, with over $80 million going towards safety enhancements and maintenance, and reducing the speed limit on arterial roads and some council roads near schools at priority locations.
• $40 million for law and order to free up 100 extra police officers and staff, and $227 million to expand South Australia’s prisons, including 350 additional beds at Yatala Labour Prison and the Adelaide Women’s Prison.

Further information on the 2024-25 State Budget is available here.