Australian Government, 2005–06 Budget

Budget Overview
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  • 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

The Hon
Peter Costello MP,
Treasurer of the
Commonwealth of Australia

Senator The Hon
Nicholas Minchin,
Minister for Finance and Administration

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