2010-11 BUDGET OVERVIEW

 
With responsible management the Government will halve peak debt and get the budget back in black in 3 years, 3 years early.
 
This is a responsible Budget that further strengthens the economy, helps families, and secures further growth.
 
Our decisive action kept the economy strong and protected jobs during the global financial crisis. Now we’re taking decisive action to return the Budget to surplus and keep our finances strong.
 
The budget converts the successes we’ve had during the global recession into a stronger, more secure economy for working families.
 
Our strict spending limits help ensure we get back to surplus in three years, three years early and ahead of every other major advanced economy.
 
The success of stimulus and our responsible approach to the economy will now deliver:
  • New investments in health and hospitals
  • New investments in skills training and infrastructure
  • A new Renewable Energy Future Fund to help tackle climate change
  • Tax cuts and less red tape for small business
  • Better superannuation, tax breaks on interest, and a boost to national savings
  • A standard deduction to make tax time easier for working families
  • A third round of tax cuts
  •  More money to protect our troops and our borders, and
  • Still return to surplus three years ahead of schedule