Budget at a glance

A responsible Budget that will return to surplus early, strengthen our economy and secure our future.

Australia has outperformed the rest of the developed world

Business and employees joined with the Government to tackle the global financial crisis, helping Australia emerge in a strong position.

Our economy's resilience stands in stark contrast to the experience of many other countries.

Australia has emerged from the global financial crisis with stronger growth, lower debt and lower deficits than any of the major advanced economies.

Returning to surplus early

All of our investments in this Budget are fully funded within the strict confines of the Government's responsible fiscal strategy.

All new spending has been fully offset and real spending growth kept to less than 2 per cent a year.

The Government's commitment to this strategy will see the Budget return a modest surplus three years ahead of schedule, and ahead of any of the major advanced economies.

Investing in the long term

The Government is determined to convert Australia's success during the global financial crisis into a stronger economy for the future.

This Budget boosts savings, builds skills and infrastructure, improves our health and hospitals, invests in renewable energy and simplifies tax time for working families.

The Government will ease the costs of living in this Budget by providing a standard tax deduction, implementing further tax cuts and rewarding working families for saving.

Chart: Budget at a glance