Spending on the National Disability Insurance Scheme could hit $102 billion and eclipse the age pension as the most expensive federal government social program if the Albanese government does not rein in the scheme’s costs.
Federal and state governments will spend $35.5 billion on the NDIS in 2022-23, which includes $34 billion in participant costs and additional expenses associated with the administration of the National Disability Insurance Agency (NDIA).
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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com