Fairly Returning the Budget to Balance
The Coalition Government will continue our efforts to bring the budget back to balance by 2020-21, basing decisions on the principles of fairness, security and opportunity. Living within our means ensures we can sustainably meet our obligations to the next generation.
- In 2016-17, we reduced the growth in our debt by more than two-thirds and passed $25 billion in budget repair measures
- We continue to crackdown on multinationals – making sure they pay their fair share of tax – the ATO expects to raise $4 billion
- We are introducing stricter tax rules to clean-up the black economy
The Coalition Government will introduce a levy on the major banks assessed liabilities. This fair and additional contribution to the community from our major banks will assist budget repair.
The Coalition Government is taking practical action to arrest the deficit and growth in debt as well as doing all we can to preserve our AAA credit rating.
Securing a Fair Safety Net
We must protect our welfare safety net for those who need it most. The best way to get the welfare budget under control is to help Australians into work.
- Supporting 68,000 young parents with ParentsNext - childcare, training and education
- Financial penalties for those dodging their mutual obligation responsibilities
- Expanding the Cashless Debit Card and Income Management to tackle welfare dependency
The Right Choices Delivering the Essentials
- Budget repair secures economic growth for more and better paid jobs for hardworking Australians
- Budget repair allows the Coalition Government to guarantee Medicare, NDIS and schools
- Budget repair lets the Coalition Government tackle cost of living pressures
- Securing opportunity and better days ahead for hardworking Australians and future taxpayers