- The 2005-06 Budget provides for an underlying cash surplus of $8.9 billion.
- All taxpayers will benefit from a further $21.7 billion in tax cuts over the next four years.
- The Government will abolish the superannuation surcharge to encourage private savings.
- The Budget introduces significant reforms to the welfare system, aimed at improving workforce participation.
- New initiatives will be implemented to meet immediate health needs and ensure first-class health services into the future.
- Families and carers will receive more support.
- Strong economic management will secure opportunities for future generations.
The Ministers of Budget
Peter Costello MP,
Treasurer of the
Commonwealth of Australia
Senator The Hon
Minister for Finance and Administration