The 2010 federal Budget at a glance …
- Deficit: $40.8 billion or 2.9% of GDP reducing to $13 billion by 2011-12
- GDP growth forecast: 3.25% (2010-11) and 4% (2011-12)
- Unemployment forecast: 5% by June 2011, 4.75% by June 2012
- CPI forecast: 2.5% by June 2011
- Return to surplus: 2012-13
BIG SPENDING
- Health: $2.2 billion in new spending over four years
- Border protection: $1.2 billion in new spending
- Skills: $661 million
- Renewable energy: $652 million over four years
- Tax cuts: $300 million to slash the company tax rate, but not until 2012-13
BIG SAVINGS
- PBS reform: $30.7 million
- Green cars: $50 million in 2011-12 out to $200 million to finish them off
- Superannuation tax changes: $65.8 million next year
- RSPT: $12 billion by 2013-14, nothing next year
- Tobacco excise: $4.98 billion by 2013-14
- Total: $30.109 billion by 2013-14
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