KEY INITIATIVES OF THE
2011‑12 BUDGET

Getting the budget back in the black

  • Despite the challenges posed by recent natural disasters, the Budget remains on track for a surplus in 2012‑13
  • To avoid compounding the pressures associated with the unprecedented mining investment boom, the Government has made the difficult decisions necessary to deliver $22 billion in savings
  • The return to surplus represents the fastest fiscal consolidation in at least forty years

Building Australia's Future Workforce

  • $558 million to deliver tailored, quality training places through the National Workforce Development Fund
  • Ambitious reform of the vocational education and training system, with a further $1.75 billion on offer to partner with the States and Territories
  • A range of measures to boost participation, by rewarding work, providing new opportunities through training, education and services, and introducing new requirements for some groups

Infrastructure

  • $36 billion in investment in roads, rail and ports, including $1 billion in funding for the duplication of the Pacific Highway
  • Removing tax impediments to infrastructure investment

Better hospitals and health care

  • Delivering on the commitment to provide at least $16.4 billion in additional hospital growth funding guaranteed to the states from 2014‑15
  • $2.2 billion over five years delivering on national mental health reform
  • $717 million to expand access to diagnostic imaging services and make medicines more affordable
  • $53 million to improve access to public dental services, particularly for people on low incomes

Making every school a great school

  • $425 million to reward top performing teachers
  • $200 million to support school students with disability
  • $222 million to extend the National School Chaplaincy program

Helping families and low income earners

  • Bringing forward up to $300 per year of the Low Income Tax Offset into pay packets
  • Increasing the Family Tax Benefit Part A for teenagers by up to $4,208 per year, with more flexible access arrangements
  • Maximum pensions are $128 per fortnight higher for singles and $116 for couples since pension reforms began in September 2009

Investing in our regions and our businesses

  • Delivering for our regions, with $4.3 billion in investments in regional hospitals, health care, universities and roads
  • Supporting small businesses, through tax relief and simplification
  • Linking Australian suppliers and manufacturers to opportunities in the resources sector through the Buy Australian at Home and Abroad package