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Australian Government Coat of Arms

Budget | 2014-15

Budget 2014-15
Australian Government Coat of Arms, Budget 2014-15

Appendix D - Major savings

This table summarises the major savings in the 2014‑15 Budget and their impact on the fiscal balance. More comprehensive information is provided in Budget Paper No. 2, Budget Measures 2014‑15.

2013‑14
$m
2014‑15
$m
2015‑16
$m
2016‑17
$m
2017‑18
$m
Official Development Assistance — reprioritised funding6126011,2221,6893,521
Medicare Benefits Schedule — introducing co-payments for general practitioner, pathology and diagnostic imaging services0-141,1281,1531,201
Higher Education Reform — Expanding Opportunity — Higher Education Loan Program — repayment thresholds and indexation03347209061,194
Family Payment Reform — maintain Family Tax Benefit payment rates for two years-1397720736747
Family Payment Reform — limit Family Tax Benefit Part B to families with children under six years of age-1-17702361,601
Commonwealth Public Hospitals — change to funding arrangements02172601331,163
Pausing indexation of some Medicare Benefits Schedule fees and the Medicare Levy Surcharge and Private Health Insurance Rebate thresholds0142394504635
Maintain eligibility thresholds for Australian Government payments for three years-2161295445579
Certain concessions for Pensioners and Seniors Card Holders0304314327338
Pharmaceutical Benefits Scheme — increase in co-payments and safety net thresholds0145307367449
Stronger participation incentives for job seekers under 300221345353329
Family Payment Reform — better targeting of Family Tax Benefit Part B0-4379430440
Family Payment Reform — revise Family Tax Benefit end-of-year supplements-1-2395392426
Higher Education Reform — Expanding opportunity — Expansion of the demand driven system and sharing the cost fairly00164412551
Commonwealth Seniors Health Card holders — cessation of the Seniors Supplement0241260276282
Local Government Financial Assistance Grants — pause indexation for three years096200308321
Australian Apprenticeships Incentives Programme — Tools For Your Trade — cessation0142255257260
Aged Care Payroll Tax Supplement — cessation086181188198
Efficiency Dividend — a further temporary increase of 0.25 per cent063124189193
Indigenous Affairs Programmes — rationalisation4116314611867