Australia's welfare bill could exceed the size of New Zealand's entire economy in just a few years https://t.co/bn8RUpbmhv
— Daily Mail (@DailyMail) April 9, 2026
Australia is heading toward a welfare blowout so large that Commonwealth social spending could soon rival, or even surpass, the entire economy of New Zealand.
Government figures show welfare spending is rising far faster than Treasury predicted, with repeated upward revisions revealing a growing gap between forecasts and reality.
Under the latest MidYear Economic and Fiscal Outlook (MYEFO), Commonwealth social security and welfare spending is now projected to reach $329billion by 2029.