2014 Australian federal budget

 () Australian federal budget 2014–15

Submitted	13 May 2014
Submitted by	Abbott government
Submitted to	House of Representatives
Parliament	44th
Party	Liberal/National Coalition
Treasurer	Joe Hockey
Total revenue	$385.8 billion[1]
Total expenditures	$412.5 billion[1]
Deficit	$29.8 billion[1]
Website	www.budget.gov.au/2014-15/
‡Numbers in italics are projections. ‹ 2013 2015›

The 2014 Australian federal budget was the federal budget to fund government services and operations for the 2014/15 financial year. The 2014 budget was the first delivered by the Abbott government, since the Coalition's victory in the 2013 Australian federal election. Treasurer Joe Hockey presented the budget to the House of Representatives on 13 May 2014.^[2]

The budget featured significant changes to address a perceived deficit crisis. This included a proposed dramatic downsizing of government bureaucracy, and contained significant changes to welfare, new initiatives for a medical research fund and spending on roads. A budget surplus exceeding 1% of GDP was not expected until 2023.^[3]

The austere budget faced widespread criticism and was overwhelmingly rejected by the Australian public as reflected in all opinion polls after its release.^[4][5][6] Opposition to "unfair" budget measures came from the opposition and cross-bench, pensioners, economists, the union movement, students and welfare, community and disability groups with some taking to the streets in protest. The budget included changes which were contrary to pre-election commitments and promises made by the Liberals in opposition.^[7] Critics argue that every one of the following pre-election commitments made by Tony Abbott were broken in the first budget: "No cuts to education, no cuts to health, no change to pensions, no change to the GST and no cuts to the ABC or SBS."^[8][9] Echos of the "dead and buried" Fightback! policy package from the 1993 election occurred with proposals to defer unemployment benefits for six months for under 30s and the removal of GP bulk billing. Most proposals have since been shelved, dumped or modified.