THE BUDGET
- Budget surplus of $9.3 billion in 2024/25
- Commonwealth net debt to rise to $552.5 billion (20 per cent of GDP) in 2024/25
- Economic growth to rise to two per cent in 2024/25
- Unemployment rate to rise to 4.5 per cent in 2024/25
- Inflation as measured by Consumer Price Index to be 2.75 per cent in 2024/25
- Wages to rise by 3.25 per cent in 2024/25
KEY MEASURES
- Every Australian taxpayer receives a tax cut, averaging $36 a week
- Energy bill relief for all households ($300) and one million small businesses ($325)
- Increased Commonwealth Rent Assistance for nearly one million households
- Cheaper medicines for all, with a $7.70 cap for five years for pensioners and concession card holders
- Student debt relief for more than three million Australians
- Superannuation payments on government-funded paid parental leave
- More funds available for building houses, roads and other infrastructure
- More public money available for women fleeing violence at home and for housing
- Tax incentives, funds for promotion and other support for the Future Made in Australia initiative
Aaron Sheldrick
(Australian Associated Press)
