For all the updated information regarding Covid-19 click here.   For my latest media as Prime Minister click here.

Budget Fast Facts

  • Australia is in its 26th year of uninterrupted economic growth. 
  • Projected surplus – 2020-21.
  • Net debt projected to fall to 8.5 per cent of GDP over the next decade.
  • Since the last election, the Government has legislated more than $25 billion in Budget repair measures.
  • More than 75 per cent of the growth in debt since the GFC has been raised to pay for welfare (45 per cent), health (21 per cent) and education (10 per cent).
  • From 2018-19, and for the first time since the GFC, the Government will not need to borrow to pay for everyday expenses like welfare, health and education.
  • Over $75 billion has been committed to infrastructure across Australia over the next 10 years.
  • This financial year $2.9 billion has been clawed back from multinational tax avoiders.
  • Our AAA rating has been maintained by the three main ratings agencies.
  • Our Budget is acting to keep our spending growth at the lowest level of any Federal Government in the past 50 years.