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SUMMARY OF 2023/24 FEDERAL BUDGET

ECONOMY

* Budget surplus of $4.2 billion in 2022/23

* Deficits of $13.9 billion in 2023/24, $35.1 billion in 2024/25, $36.6 billion in 2025/26 and $28.5 billion in 2026/27

* Commonwealth net debt rising to $574.9 billion (22.3 per cent of GDP) in 2023/24 before hitting $702.9 billion (24.1 per cent of GDP) in 2026/27

* Economic growth to fall to 1.5 per cent in 2023/24, before rising to 2.75 per cent in 2025/26

* Unemployment rate of 4.25 per cent in 2023/24, rising to 4.5 per cent in 2024/25 and 2025/26 then easing to 4.25 per cent in 2026/27

* Inflation as measured by CPI to be 3.25 per cent in 2023/24

* Wages to rise by four per cent in 2023/24

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COST OF LIVING

* Energy bill relief of up to $500 for five million households and up to $650 for one million small businesses

* 170,000 households save on energy bills by financing energy saving home upgrades

* Reducing out-of-pocket health costs by tripling bulk billing incentives

* Cutting the cost of medicine by up to half for at least six million people

* Supporting 57,000 single parents by expanding eligibility for Parenting Payment (Single)

* Increasing the base rate for JobSeeker and other payments by $40 a fortnight for 1.1 million people

* Increasing Commonwealth Rent Assistance for 1.1 million households

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HEALTH

* $106.5 billion in total funding for 2023/24

* $5.7 billion over five years to strengthen Medicare

* 15 per cent pay rise on award wages for aged care workers

* More bulk billing urgent care clinics

* Digital health system upgrade

* New Centre for Disease Control

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BUSINESS

* Tax break to reduce energy costs

* $20,000 instant asset write-off

* $432 million over four years for SME support including commercialising ideas

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HOUSING

* Tax breaks to ensure more investment in build-to-rent projects

* $7.5 billion in National Housing Finance and Investment Corporation (up $2 billion)

* Expanding eligibility criteria of the Home Guarantee Scheme

* $410.4 million for Indigenous housing

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WOMEN

* Cheaper child care for 1.2 million families

* More flexible paid parental leave scheme

* Extra $589.3 million for women's safety

* Targets for women apprentices on government projects

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REGIONS

* Extra $79.5 million support for regional pharmacies

* $400 million for regional clean energy industries

* $1 billion extra for pest and disease controls

* $200 million for disaster support such as levee upgrades and bushfire reduction projects

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DEFENCE

* $42.8 billion total budget in 2023/24

* Nuclear-powered submarines to support 20,000 jobs over three decades

* $64.1 million to clear up veteran support claims backlog

* Spending as proportion of GDP to hit 2.3 per cent in 2032

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INFRASTRUCTURE

* Review of $120 billion pipeline of major projects

* $3.4 billion over 10 years for Brisbane Olympic and Paralympic Games venues

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EDUCATION

* $48.3 billion in total for 2023/24

* $72.4 million for skilling early childhood workers

* Talks under way on five year National Skills Agreement from 2024

* Universities Accord report due in December

* 20,000 extra university places in 2023 and 2024

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WELFARE

* $250.3 billion in total for 2023/24

* $4.9 billion over five years for extra JobSeeker support

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AGED CARE

* Pay rise of 15 per cent for sector workers

* Extra work hours for international students in the sector

* $166.8 million for an additional 9500 home care packages

* Funding for better regulation to lift care standards

* $487 million for disability support program for older Australians

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INDIGENOUS

* $194 million for dedicated Indigenous action plan to end family violence

* $150.5 million for Indigenous education programs

* $561.6 million for health programs including cancer and anti-smoking

* $364.6 to fund the Indigenous voice referendum

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ENVIRONMENT

* Set up Environment Protection Australia and Environment Information Australia agencies

* $741.3 million over five years for natural heritage projects

* $355.1 million over four years for national parks and marine reserves

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DISABILITY

* $732.9 million to improve systems and fight fraud

* Annual growth target on spending of no more than eight per cent

© AAP 2023

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WINNERS AND LOSERS IN THE 2023/24 BUDGET

WINNERS

Welfare recipients - Extra $40 a fortnight

Aged care workers - 15 per cent pay rise

Clean energy sector - Incentives for households and businesses

Renters - 15 per cent lift in Commonwealth Rent Assistance

Patients - More bulk-billing and after-hours care

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LOSERS

Smokers - Five per cent hike in tax every year for three years

Multinationals - 15 per cent global minimum tax

Wealthy retirees - Higher tax for balances over $3 million

Offshore gas producers - Extra revenue from Petroleum Resource Rent Tax

© AAP 2023

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Weight loss giant Jenny Craig's Australian and New Zealand operations have gone into voluntary administration.

The Melbourne-founded business last week filed for bankruptcy in the United States, closing its North American corporate offices and stopping operations.

A representative at the time said the decision would not affect local services but FTI Consulting was appointed to lead the voluntary administration on Tuesday.

FTI Consulting confirmed its team of Vaughan Strawbridge, Kate Warwick and Joseph Hansell had been appointed as voluntary administrators of Jenny Craig's Australian and New Zealand companies.

The administrators intend to continue to trade the companies while they explore options to restructure.

"It is unfortunate where an overseas parent company enters bankruptcy and impacts the local business, in particular, where they are operated independently to each other," Mr Strawbridge said.

"We are working with the Australian and New Zealand leadership team to trade the businesses with a view to attracting new capital to restructure. Interest has already been received.

"We will be working with those parties and stakeholders of the business to secure the ongoing business and provide clarity to its loyal and committed staff and customers as soon as possible."

Jenny Craig was founded in Melbourne in 1983 and grew to become a household name as one of the biggest weight management companies in the world.

It has about 600 centres globally with more than 500 locations in North America.

Its main services consist of one-on-one personalised support with nutrition and lifestyle planning.

Various celebrities have been featured as ambassadors over the years including singer Mariah Carey and former Spice Girl Mel B (Melanie Brown).

Locally, comedian Magda Szubanski and the late Barry Humphries and his alter ego Dame Edna Everage were also ambassadors.

Private equity investment firm H.I.G. Capital bought Jenny Craig in 2019 for an undisclosed sum.

© AAP 2023

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Up to $20,000 in staged payments will be offered to entice police recruits to Queensland as the state government points to progress on it's youth crime approach.

Premier Annastacia Palaszczuk announced the $90 million package on the first day of a sitting of regional parliament in Cairns on Tuesday.

Part of the package is aimed at interstate and overseas police officers, with the payments to subsidise relocation costs.

University students in courses such as psychology, criminology, social work, or counselling will also be eligible for HECS debt discounts if they join the Queensland Police Service.

The announcement comes as Queensland government defends its youth crime response following the death of three women in a car crash allegedly involving the 13-year-old driver of a stolen car.

Liberal National opposition leader David Crisafulli pressed the premier on whether she supported keeping the policy of detention as a last resort or raising the criminal age of responsibility

On the first point, Ms Palaszczuk said detention as a last resort for children was part of a United Nations convention.

"If the opposition wants to go and talk to the UN about it, feel free," she said.

Attorneys-general from across the country have discussed developing a proposal to raise the age, and the Queensland government has previously backed a national approach.

"We look forward to hearing the results of that," Ms Palaszczuk said.

The latest focus on youth crime comes after state parliament passed a suite of measures in March, including a new offence for young people who breach conditions of their bail.

More than 70 offenders have been charged with the offence, the premier said.

The state's "blitz on bail" has seen close to 8500 decisions reviewed by police prosecutors.

More than 80 per cent of reviews have been successful on appeal, or resulted in a withdrawal on a bail application.

© AAP 2023