Budget at a glance
Significant health measures in the Budget
- Lifting the freeze on the indexation of the Medical Benefits Schedule.
- National Disability Insurance Scheme to be fully-funded by a 0.5 percentage point Medicare Levy increase from 2019.
- Legislation to guarantee Medicare and the PBS.
- Hospital funding increased by $2.8 billion over four years.
- $1.4 billion to be invested in health research over four years.
- $1.2 billion in new medicines to be made available
Other big measures in the Budget
- Levy on big banks’ liabilities to raise $6.2b.
- Negative gearing and depreciation changes to raise $2.1b.
- First home buyers can get a deposit by salary sacrificing into super.
- $300m to the Australian Federal Police to fight terrorism.
- $10b to establish a National Rail Program.
- Foreign worker levy to raise $1.2b over four years.
- $18.6b for Gonski education funding.
- $5.3b over 10 years for Western Sydney Airport Corp.
- $8.4b for Melbourne to Brisbane Inland Rail Project.
- $4b tax crackdown on multinationals.
- $1b National Housing Infrastructure Facility for new homes
- Federal Government to take control of Snowy Hydro
- $90m to secure gas resources for domestic use
The Budget deficit is $29.4 billion in 2017-18, with the Government forecasting a return to surplus by 2020-21.