SA Budget 2024/25 – briefing note

June 2024

There were no surprises in today’s budget lock-up as the majority of the Hon Stephen Mullighan’s budget had been announced ahead of today’s Speech.

CommSec’s State of the State report has ranked SA as the country’s best-performing economy for two years running and the budget estimates that the Malinauskas Government will deliver a $306 million surplus in 2023/24, and forecasts surpluses across the forward estimates. Welcome news following three years of deficits under the previous government.

SA has benefited from the strong property and labour markets and presents a sustainable and serviceable general government net debt of $19,145 million. A projected $3.6 billion lower than what had been forecast by the previous government.

The 2024/25 budget is positioning SA to take advantage of economic measures to invest in housing, health, jobs and skills, early childhood learning, and to offer some assistance with the rising cost of living pressures.

Cost of living

The budget includes $266.2 million in savings to address the cost of living pressures. The measures are designed to complement the energy bill relief, and stage 3 tax cuts announced by the Commonwealth government in May.

They include $51.5 million for a once-off Cost of Living Concession payment of $243.90. As well as a doubling of the sports voucher subsidy (and its expansion to include music lessons), an extension of the school materials and services charge subsidy for a further year, and $36.6 million over 4 years to align concession payments in the state.

And $20 million has been assigned to Round 2 of the Economic Recovery Fund to support small businesses and NFP organisations to invest in energy-efficient equipment to reduce energy costs.


As was announced ahead of the budget the government has effectively removed the stamp duty for first-home buyers from 6 June this year.

They have assigned $843.6 million for a housing package intended to deliver 2,383 homes. And they are leveraging $135.8 million over five years from the Commonwealth Government’s Social Housing Accelerator Payment to build and upgrade around 442 additional social housing dwellings by 2028.

Early Childhood

A significant $1.9 Billion has been earmarked for generational reform in the rollout of preschool for 3-year-olds in the state. Universal preschool will give every child access to high-quality education and help get caregivers back into the workforce.

An accompanying $96.6 million over four years has been assigned to grow and support the early childhood workforce.

Jobs and Skills

$2.3 billion in combined investment from the State and Commonwealth Governments over five years for skills and training under the National Skills Agreement. This represents a meaningful 43% increase in skills funding.

It complements the Commonwealth’s Future Made in Australia agenda and includes important measures to support clean energy and green manufacturing.

Importantly – in addition to the $275.6 million for 160,000 training places – it also includes $62.6 million to boost audits and enforce quality outcomes from all training providers and $56.2 million to support the increase of completion rates for students including financial, well-being and housing supports.


These budget papers highlight the ongoing problems faced by our SA’s public health sector and the government has announced an additional $2.5 billion over 5 years to help address them.

It includes $30.2 million for 20 extra beds at the Lyell McEwin Hospital and 36 beds at the Queen Elizabeth Hospital. As well as $11.5 million in infrastructure funding for the upgrade of the Port Pirie Hospital and $24 million towards new ambulance stations in Whyalla, Marion and Two Wells.