Transcript Document

What’s it all about???
How do we compare?
Selected Industrial Nations Public Sector Net Debt as a
Percentage of GDP (2012)
The 2014-15 Budget
 The 2014-15 underlying cash balance has been reduced from a
deficit of $ 49.9 billion (-3.1% of GDP) in 2013-14 to a $29.8
billion deficit (-1.8% of GDP)
Who wins and who loses?
Who wins and who loses?
The Winners
Winners
Medical research - The
$20 billion
research fund
Small to medium businesses – 1.5% company tax cut
Construction firms - $11 billion in infrastructure spending
Defence - spending to rise to 2% of GDP
Mothers – parental paid leave for new mothers up to
$50,000
The Losers
The sick - $7 increase for GP’s fees and cuts to hospital
funding
University students – higher fees to study and increased
loan repayments
Public Servants – 16,500 job loses
Pensioners – pension age to rise to 70 by 2035 and benefits
cut
Families – cuts to Family Tax Benefit B
Tighter eligibility criteria for disability support pensions
Losers
Foreign Aid budget – cut by $7.9 billion over five years
Young unemployed – have to wait 6 months to get a lower
unemployment payment
Motorists – indexation of petrol excise, one cent a litre.
High income earners – over $180,000 pay a 2% income tax
levy for three years.
Indigenous people - $500 million cut to indigenous
programs over five years.