Australian federal budget

The Australian Federal Budget is basically like a big plan for how the government is going to spend and save money for the whole year. Think of it like when you get an allowance from your parents and they tell you how much money you can spend each week and how much you need to save for later.

The government gets money from taxes, which are like payments that people and businesses have to make to help support the country. Some of that money is used to pay for important things like schools, hospitals, roads, police, and the military.

But the government also needs to decide how much money to spend on different things, like new projects or programs, or helping out people who might need extra support.

So, each year, the government makes a big plan for how they will spend and save that money. They will look at different areas like health, education, defence, and transport to see where they need to increase or decrease funding.

They also need to think about how to balance the budget, which means making sure they don't spend more money than they have. Just like your parents have to make sure they don't give you more allowance than they can afford.

This plan is talked about and debated by all the important people in government, like the Prime Minister, the Treasurer, and other members of Parliament. They want to make sure that the money is being spent and saved in the best way possible for everyone in Australia.

Once the plan is finalised, it's announced to the public and everyone can have a look to see what the government will be doing with their money for the next year.

So, just like your allowance helps you plan how to spend and save your money, the Australian Federal Budget helps the government plan how to spend and save the country's money.