2025 Senate Estimates Briefs

Written by Claude Haiku 4.5 from the extracted text on 28 Feb 2026. It can miss or misread redacted and scanned pages. Check the source before relying on it.

Treasury's 2025 Senate Estimates briefs assess international economic conditions and a domestic policy incentive facing US opposition. On the US outlook, briefs note mixed conditions: pro-growth deregulation and corporate tax cuts offset by protectionist trade policies affecting confidence. Advanced economy inflation is declining but sticky in the US and UK, with core inflation not expected to return to central bank targets until late 2025 or 2026. The Australian dollar depreciated to just below 64 US cents on 24 February 2025, below the MYEFO assumption of 66 cents, with the Trade Weighted Index at 60.5 versus the assumed 62.0. Oil prices have firmed since late 2024 following OPEC+ output cut extensions, though internal cartel divisions may limit supply restrictions. Trump's executive order to boost US oil and gas output will take time to materialise. Separately, an unspec