2013-14 Federal Government Budget Australia
2013-14 Federal Government Budget
Intro
because of our deep commitment to jobs and growth we have taken the responsible course to delay the return to surplus, and due to a savage hit to tax receipts there will be a deficit of $18 billion in 2013-14.
Instead, we're making targeted, sustainable savings of $43 billion over the forward estimates.
To deliver a measured and balanced consolidation of around 0.5 per cent of GDP a year on average from 2013-14.
Since mid-2009 we have fully offset all new spending with savings measures and that continues tonight.
This discipline gives Australia a responsible pathway back to balance in 2015-16 and surplus by 2016-17.
Key Features:
KEY INITIATIVES OF THE 2013–14 BUDGET
Historic investment in Australian schooling * $9.8 billion over six years in once-in-a-generation school reforms to enhance Australia's future productivity and wellbeing, ensuring that every student in every school gets the help they need. * Undertaking a record $1.1 billion investment in early childhood education.
DisabilityCare Australia * Investment in DisabilityCare Australia of $14.9 billion over seven years - Australia's most fundamental social policy reform since Medicare. * Raising the Medicare levy by half a percentage point to provide a strong and enduring funding stream for DisabilityCare Australia.
The next wave of Nation Building * Committing to new infrastructure investment, bringing the Government's total investment to around $60 billion from 2008‑09 to 2018‑19. * Transformative road and rail infrastructure investments, including $4.1 billion for the Bruce Highway, $3 billion for Melbourne Metro, $1.8 billion for Sydney Motorways, $448 million for the Adelaide South Road upgrade and $418 million for the Swan Valley Bypass in Perth.
Investing in key health services * $226 million to improve cancer prevention, detection, treatment and research, and provide better patient care and support.
Intro
because of our deep commitment to jobs and growth we have taken the responsible course to delay the return to surplus, and due to a savage hit to tax receipts there will be a deficit of $18 billion in 2013-14.
Instead, we're making targeted, sustainable savings of $43 billion over the forward estimates.
To deliver a measured and balanced consolidation of around 0.5 per cent of GDP a year on average from 2013-14.
Since mid-2009 we have fully offset all new spending with savings measures and that continues tonight.
This discipline gives Australia a responsible pathway back to balance in 2015-16 and surplus by 2016-17.
Key Features:
KEY INITIATIVES OF THE 2013–14 BUDGET
Historic investment in Australian schooling * $9.8 billion over six years in once-in-a-generation school reforms to enhance Australia's future productivity and wellbeing, ensuring that every student in every school gets the help they need. * Undertaking a record $1.1 billion investment in early childhood education.
DisabilityCare Australia * Investment in DisabilityCare Australia of $14.9 billion over seven years - Australia's most fundamental social policy reform since Medicare. * Raising the Medicare levy by half a percentage point to provide a strong and enduring funding stream for DisabilityCare Australia.
The next wave of Nation Building * Committing to new infrastructure investment, bringing the Government's total investment to around $60 billion from 2008‑09 to 2018‑19. * Transformative road and rail infrastructure investments, including $4.1 billion for the Bruce Highway, $3 billion for Melbourne Metro, $1.8 billion for Sydney Motorways, $448 million for the Adelaide South Road upgrade and $418 million for the Swan Valley Bypass in Perth.
Investing in key health services * $226 million to improve cancer prevention, detection, treatment and research, and provide better patient care and support.