Federal budget 2013: big deficit to stay next year

14 May 2013
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Treasurer Wayne Swan has delivered a budget with a A$19.4 billion deficit this financial year, falling only to $18 billion in 2013-14.

The government would aim to bring the budget back to “balance” – less than $1 billion in the black ­– in 2015-16, and have a modest $6.6 billion surplus in 2016-17.

The government’s unconventional pre-election budget – which includes a rise in the Medicare levy and a fresh crack down on “middle class welfare” – contains $43 billion of savings through the forward estimates and funding for the key schools and disability programs.

Read the full atricle on The Conversation.

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2013
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