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The National Disability Insurance Scheme (NDIS) is a major driver of the growth in public spending. It has also driven an unprecedented boom in healthcare and social assistance jobs, which since 2020 have decoupled from other English-speaking nations:
The latest costings on the NDIS, illustrated below by Justin Fabo from Antipodean Macro, reveal that NDIS payments made to participants in the December quarter of 2025 grew 16.1% year-over-year:
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Therefore, after a period of consolidation, NDIS cost growth has reaccelerated.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.