The budget has just been released and Wayne Swan is still standing in the House of Reps giving his speech.
Main points from The Age:
MAIN POINTS
Overview
Main points from The Age:
MAIN POINTS
Overview
- Surplus to peak at $21.7b
- $40b for nation building funds
- Tax cuts of $46.7b
- Spending growth 1.1%
Forecasts
- GDP to slow to 2.75%
- Jobs growth to slow to 1.25%
- CPI to peak at 4%
- Wages growth at 4.25%
Environment
- $2.3b to CO2 emissions
- $500 for green car fund
- $300m for households
- $150m to help region
Education
- $11b for higher education
- $5.9b for education revolution
- $500m for universities
- $1.2b for school computers
Family
- Baby bonus up to $5000
- Child-care tax rebate up to 50%
- 19,000 more carers benefit
- $1.2b for first home buyers
Tax
- Tax-free thresholds up to $14,000
- Luxury-car tax raised
- $1000 savings on $50,000
- $8.76 tax loopholes to go
Health
- $3.2b to slash elective waiting lists
- $10b for hospitals
- $249m for national cancer plan
- $100,000 limit for Medicare levy
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thoughts?