In the face of global uncertainty, Australia’s economy is resilient:

  • Last year, for the first time in 11 years, the budget was returned to balance.
  • Between September 2013 and February 2020, over 1.5 million new jobs were created.
  • Australia had the lowest level of welfare dependency in 30 years (as at June 2019)

The benefits of fixing the Budget and ensuring strong economic management include:

  • Tax relief for over 10 million workers, starting last year.
  • Tax relief for 3.4 million small businesses employing over 7 million Australians.
  • An extra $39 billion in funding for schools over the next decade. This means an average funding increase of 63% per student.
  • A new hospital agreement delivering $31 billion more funding over five years.
  • Over 2,300 new life-changing medicine listings worth $10.9 billion added to the Pharmaceutical Benefits Scheme.
  • A record $100 billion investment in major highway upgrades, congestion busting roads and rail, Inland Rail, commuter car parking and the Western Sydney Airport.
  • Record investment in Defence and national security.

Information current as at February 2020