Budget 2018

Record Investment in Schools and Hospitals

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RECORD INVESTMENT IN HEALTH

Record hospitals funding

The Government is providing record levels of funding for public hospitals.

A new public hospital agreement will deliver more than $30 billion in additional funding between 2020-21 and 2024-25 — a 30 per cent increase over the previous five years.

Guaranteeing Medicare and new medicines

Australians can be assured that funding for the Medicare Benefits Schedule (MBS) and the Pharmaceutical Benefits Scheme (PBS) is guaranteed through the Government legislated Medicare Guarantee Fund.

For 2017-18, $34.4 billion has been credited to the Fund. A further credit of $35.3 billion will be made to meet estimated MBS and PBS expenditure for 2018-19.

This Budget includes $1.4 billion for new and amended listings on the PBS, including medicines to treat spinal muscular atrophy, breast cancer, relapsing‑remitting multiple sclerosis and a new medicine to prevent HIV.

Healthy and active Australians

The Government is providing further support for Australians with mental illness, including providing $33.8 million to Lifeline Australia to enhance its telephone crisis services and funding for beyondblue and the Way Back Support Service.

The Government will provide $20.9 million to improve the health of women and children in their first 2,000 days of life.

Funding of $154.3 million will support Australians to take up healthier and more active lifestyles, including participating in community sport.

RECORD INVESTMENT IN EDUCATION

Record Schools Funding

A stronger economy is enabling us to deliver $24.5 billion of extra schools funding over a decade (on average, 50 per cent more per student).

This will ensure genuine needs-based funding for Australian schools to achieve the best outcomes for all students.

The Government is supporting the 23 recommendations of the landmark Review to Achieve Educational Excellence in Australian Schools. The Government will work with the States and Territories to deliver reforms in the Review.

For the first time, we have a national blueprint for every family, every teacher and every government to help tackle declining school performance in Australia.

Preschools

The Government is continuing to support Australian families to access preschool education by providing $440 million to extend the National Partnership Agreement on Universal Access to Early Childhood Education for the 2019 calendar year.

This takes total preschool funding to around $870 million over the 2018 and 2019 school years.

New Child Care Package

From 2 July 2018, the Government’s New Child Care Package will come into effect, providing more support for families who need it the most.

Nearly one million Australian families will have more affordable access to child care.

The Child Care Safety Net supports children from rural and regional areas and those from disadvantaged backgrounds or with additional needs to access early childhood education and care services, ensuring these families receive the support they need.

The Government is also ensuring that families face lower out-of-pocket expenses by reducing the Child Care Subsidy withholding rate to 5 per cent for all families.

“Our plan for a stronger economy is:
tax relief to encourage and reward working Australians, backing business to invest and create more jobs, guaranteeing the essential services Australians rely on, keeping Australians safe, and ensuring the Government continues to live within its means.

This is how you strengthen the economy and bring the Budget back to balance.”

Treasurer Scott Morrison

Learn more about our plan with regular email updates