Appropriation Bill 2024 H.B. 6, 2023.
The 2024 budget Bill appropriates $50.8 trillion — $49.48tn from the Consolidated Revenue Fund and $1.32tn from Retention Funds — with Finance ($8.49tn), Education ($7.90tn) and Health ($6.17tn) the largest votes.
This Bill authorises spending for the year ending 31 December 2024. The Consolidated Revenue Fund is charged with not more than $49,476,288,342,000, and the Retention Funds with a further $1,320,863,000,000 — $50,797,151,342,000 in all.
The largest vote is Finance, Economic Development and Investment Promotion at $8,489,940,552,000, ahead of Primary and Secondary Education at $7,898,950,528,000 and Health and Child Care at $6,167,366,756,000. Lands, Agriculture, Fisheries, Water and Rural Development receives $4,285,933,440,000, Defence $3,637,636,664,000 and Home Affairs and Cultural Heritage $2,870,565,366,000.
The Unallocated Reserve within Vote 5 is stated explicitly at $6,735,233,033,000 — a very large discretionary block, and one the Minister of Finance may direct to any other Ministry for a stated purpose, with anything not required returning to the reserve.
Against the 2023 Bill's $3.71 trillion, the 2024 total is roughly fourteen times larger, which says more about the currency than about real spending. Anyone comparing these Bills year on year should treat the nominal totals with that in mind.
What changed
- Consolidated Revenue Fund charged with up to $49,476,288,342,000 for the year ending 31 December 2024
- Retention Funds charged with up to $1,320,863,000,000
- Combined appropriation of $50,797,151,342,000
- Finance, Economic Development and Investment Promotion receives $8,489,940,552,000, the largest vote
- Primary and Secondary Education receives $7,898,950,528,000 and Health and Child Care $6,167,366,756,000
- The Unallocated Reserve of Vote 5 is set at $6,735,233,033,000
- The Minister of Finance may transfer between Votes and release the Unallocated Reserve
Who this affects
- government ministries spending against the 2024 Votes
- suppliers and contractors to government
- teachers and health workers funded from the large social votes
- budget analysts and economists
- taxpayers
Plain-language summary — not legal advice. Always read the full instrument.