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Budget at a glance

Significant health measures in the Budget

  1. Lifting the freeze on the indexation of the Medical Benefits Schedule.
  2. National Disability Insurance Scheme to be fully-funded by a 0.5 percentage point Medicare Levy increase from 2019.
  3. Legislation to guarantee Medicare and the PBS.
  4. Hospital funding increased by $2.8 billion over four years.
  5. $1.4 billion to be invested in health research over four years.
  6. $1.2 billion in new medicines to be made available

 

Other big measures in the Budget

  1. Levy on big banks’ liabilities to raise $6.2b.
  2. Negative gearing and depreciation changes to raise $2.1b.
  3. First home buyers can get a deposit by salary sacrificing into super.
  4. $300m to the Australian Federal Police to fight terrorism.
  5. $10b to establish a National Rail Program.
  6. Foreign worker levy to raise $1.2b over four years.
  7. $18.6b for Gonski education funding.
  8. $5.3b over 10 years for Western Sydney Airport Corp.
  9. $8.4b for Melbourne to Brisbane Inland Rail Project.
  10.  $4b tax crackdown on multinationals.
  11.  $1b National Housing Infrastructure Facility for new homes
  12.  Federal Government to take control of Snowy Hydro
  13.  $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.

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