Budget 2025 Timeline. In fiscal year 2025, which ended on september 30, the federal budget deficit totaled $1.8 trillion—an increase of $138 billion (or 8 percent) from the shortfall recorded. Chancellor rachel reeves has delivered labour’s first budget since 2010, after the party’s return to power in july’s general election.
An outline of the steps and timeline of creating the commonwealth’s fiscal year budgets. The fy 2025 budget request invests $5.1 billion to increase resilience of military bases and the critical capabilities housed there against threats like extreme weather and cyber.