The Centre For Future Work has put together a budget briefing paper which has all the analysis you may want on the budget and some you probably didn’t even know you needed.

As expected with a Federal election looming, the budget is not a horror one of austerity. However, the 2025-2026 budget is characterised by the absence of any significant initiatives. There is very little in this budget that is new other than the surprise tax cuts, which are welcome given they benefit mostly those on low-incomes. There are continuing investments in some key areas supporting wages growth, where it is sorely needed, and rebuilding important areas of public good. However, there remains much that needs to be done in the next parliament.

https://futurework.org.au/report/budget-briefing-paper-2025-2026/