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The Budget At A Glance

Where are the spending cuts? Who’s getting extra cash? Everything you need to know about Budget 2012-13. Fresh from Budget lock-up, Ben Eltham has the highlights.

Highlights of Wayne Swan’s Budget 2012-13

  • $1.5 billion surplus for 2012-13, growing to $7.5 billion in 2015-16.
  • Budget deficit for the year ending June 2012 blows out to $44.4 billion.
  • Government has found $33.6 billion in savings, offset by $5 billion in new spending.
  • “Benefits of the Boom”: new payments for families to offset cost of living pressures.
  • National Disability Insurance Scheme begins.
  • Commitment to aged care reforms.
  • Mining boom means economy will keep growing, despite spending cuts and carbon tax.

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