2014 Australian federal budget

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.

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.

The austere budget faced widespread criticism and was overwhelmingly rejected by the Australian public as reflected in all opinion polls after its release. 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. 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." Echoes 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 100% GP bulk billing by the introduction of what became known as the "GP Tax", a $7 co-payment on all general practitioner medical appointments. Most of proposals were shelved, dumped or modified in the wake of the significant backlash.

The poor reception is viewed as one of the core reasons behind Abbott being replaced as Liberal Party leader and Australian Prime Minister in September 2015, by Malcolm Turnbull, at the September 2015 Liberal Party of Australia leadership spill. This also lead to the dumping of Hockey as Treasurer, with Hockey resigning from Parliament by the end of the year. The health & medical elements of this budget were also a factor in the 2025 Australian federal election. Peter Dutton, the Leader of the Opposition at the 2025 election, was the Minister for Health during the attempted introduction of the GP Tax, a fact widely publicised and referenced during the election campaign that saw Dutton defeated by Labor in the general election, and for his seat in the House Of Representatives.