The ACT's budget deficit has ballooned by $240 million in 103 days, with 'the Trump effect' costing $2.3 million daily due to higher energy costs and supply chain issues stemming from the Middle East conflict.
The conflict in the Middle East, exacerbated by US actions, is costing the Australian Capital Territory (ACT) budget an estimated $2.3 million per day. This adds to existing domestic financial pressures, with potential for much worse economic fallout if the conflict prolongs.
A Canberra football club faces a crisis due to rising costs and facility issues, receiving no government aid. The ACT budget offers limited cost-of-living relief, focusing on housing and some frontline services, while facing a significant deficit and delayed surplus.
The ACT's 2026-27 budget reveals a 5% average rates increase, abolition of stamp duty for first home buyers, and a housing focus. The deficit is up to $323.4 million, with a return to surplus delayed to 2028-29. Some infrastructure projects are postponed, and digital licenses are planned.
