Pre-election books cut 2026/27 deficit forecast to $6.8b

Treasury now forecasts a $6.8 billion deficit for 2026/27, down from $11.4 billion in the May Budget, according to the Pre-election Economic and Fiscal Update on 29 September 2026. It expects a $0.8 billion deficit the next year, then a $4 billion surplus in 2028/29. Parties will use these figures to cost election promises.