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.
Read more at the source: The Budget At A Glance | newmatilda.com.