The cash splash has begun! Every major election promise so far and how much it will cost
The election may not have been called yet, but the major party blocs have well and truly begun making expensive campaign promises. It’s time to start keeping a record of the billions of dollars Labor and the Coalition have promised to splash if they win. This is a non-exhaustive list and will be updated as more pledges are made.
Labor
Medicare bulk billing
The government has promised to spend $8.5 billion to expand bulk billing incentives, promising to deliver an additional 18 million bulk billed GP visits per year.
Medicare urgent care clinics
Labor says it will spend another $644 million to deliver an extra 50 bulk-billing urgent care clinics by mid-2026.
Bruce Highway upgrades
Labor will fund the majority of the $9 billion worth of upgrades to the notoriously unsafe road link in Queensland if reelected, reinstating an 80-20 funding split with the Queensland state government.
NSW public schools
The government this week said it would double its offer in negotiations with states over public school funding. Labor’s promised 25% contribution to schooling resource standard funding will mean NSW public schools will get an extra $4.8 billion over 10 years.
Whyalla Steelworks
Labor has promised a bailout package worth $2.4 billion to protect jobs at the troubled South Australian steel plant.
Construction apprenticeships
Labor will spend $626 million on a program to encourage more young people into construction.
The Coalition
Medicare bulk billing
The Coalition says it would match Labor’s bulk billing expansion and throw in an extra five hundred million, for a total pledge of $9 billion. It hasn’t yet promised to match the urgent care clinics commitment.
Bruce Highway upgrades
The Coalition has promised to reinstate the 80-20 funding split as well, but says it will do so for “all highway funding”.
Whyalla Steelworks
The Coalition would spend “the same amount of money” on Whyalla, the opposition leader has said.
Fighter jets
The Coalition has pledged to spend $3 billion on dozens of extra F-35 joint strike fighter jets if it wins the election.
Nuclear power
A centrepiece of the Coalition’s election pitch is establishing nuclear power generation in Australia, a plan that’s estimated to cost $331 billion.
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