THE FEDERAL BUDGET AT A GLANCE
* Budget deficit of $36.9 billion in 2022/23
* Commonwealth net debt to rise to $572.2 billion (23 per cent of GDP) in 2022/23
* Economic growth to rise by 3.25 per cent in 2022/23
* Unemployment rate of 3.75 per cent in 2022/23
* Inflation as measured by CPI to be 5.75 per cent in 2022/23
* Wages to rise by 3.75 per cent in 2022/23
KEY MEASURES
* Cheaper child care for 1.26 million families (costing $4.7 billion over four years)
* Expanded paid parental leave to 26 weeks by 2026
* Cuts to cost of medicines on Pharmaceutical Benefits Scheme
* National Reconstruction Fund providing $15 billion for loans, guarantees and equity for agriculture, resources and other projects
* $109.7 billion health budget
* $1.7 billion women’s safety plan
* National Housing Accord to set target of an extra one million homes over five years
* $120 billion pipeline of infrastructure over 10 years
* 480,000 fee-free TAFE places and 20,000 extra university places
* $20 billion energy transmission fund
Paul Osborne
(Australian Associated Press)
