Election 2025: What the Major Parties Are Promising – and What It Will Cost

With the 2025 federal election just around the corner, the major political parties have unveiled a series of major pledges – from sweeping tax cuts to substantial investments in housing, health, and even nuclear power. Below is a clear breakdown of what the Labor Party, the Coalition, and the Greens are offering – and what each policy might cost the federal budget. 

Labor Party's Key Promises

Tax cuts – $17.1 billion over four years
All taxpayers are expected to receive a $5-per-week tax cut beginning in July 2026. That amount is forecast to increase to approximately $10 per week by July 2027.

Health – $8.5 billion
Additional funding will be directed to general practitioners with the goal of making almost all GP clinics offer bulk billing by the end of the decade.

Housing – $10 billion
The Labor Party plans to expand its Help-to-Buy scheme so that all first home buyers can enter the market with a five per cent deposit. In addition, 100,000 new homes would be constructed exclusively for first-time buyers.

Tax deductions – $2.4 billion over four years
Taxpayers would automatically receive a $1,000 tax deduction to cover work-related expenses. No additional paperwork or claims would be required.

Mental health – $1 billion
The policy includes the rollout of more free mental health centres and specialised care centres for young people across the country.

Coalition's Major Pledges

 Fuel excise – $6 billion (one year only)
The Coalition plans to halve the fuel excise for one year, which would reduce the cost of petrol by approximately 25 cents per litre.

Tax offsets – $10 billion (one year only)
A one-off $1,200 tax offset would be paid in July 2026 to individuals earning between $48,000 and $104,000. Those earning between $104,000 and $144,000 would receive a smaller offset.

Housing – $1.25 billion over four years
First home buyers would be able to claim a tax deduction for interest paid on their mortgage during the first five years of their loan.

Health – $9 billion
The Coalition has pledged the same level of investment as Labor to increase bulk billing rates to 90 per cent by the end of the decade.

Nuclear energy – $331 billion over the course of construction
The Coalition has announced plans to build seven nuclear power stations across five states, with the first reactors expected to come online from the mid-2030s. This is by far the most expensive proposal on the table.

The Greens' Priorities

Education – $46.5 billion over four years
All undergraduate and postgraduate university and TAFE courses would become free under the Greens’ plan.

Environment – $17 billion over four years
The Greens have proposed increasing environment-related spending to one per cent of the federal budget, backed by an additional $17 billion in funding.

As election day approaches, voters can expect plenty more debate about how these big-ticket promises will be funded – and how they will shape Australia’s future in the years to come.

Originally reported by Andrew Brown (Australian Associated Press), adapted for our readers.