This responsible Budget further strengthens the economy and secures future growth.
Key elements include:
- Setting the highest standards for responsible fiscal management, with the budget returning to surplus in 2012-13, three years ahead of schedule
- Easing the cost of living and making tax time simpler by delivering tax relief, a lower tax on savings, and fairer and simpler tax returns that increase after-tax income for 6.4 million Australians
- Beginning the task of modernising the tax system, investing in skills and infrastructure, boosting national savings, making new investments in renewable energy; and funding historic reforms to the health system