This was published 12 years ago
The federal budget at a glance
ECONOMY
Budget deficit of $18 billion in 2013/14, balanced by 2015/16 and in surplus by 2016/17
Economic growth of 2.75 per cent, unemployment of 5.75 per cent, inflation forecast at 2.25 per cent
Move to floating carbon price in July 2015, projected to be about $12 a tonne
TAXATION
Tax receipt write-downs of $17 billion in 2012/13 and $60 billion over the four years to 2015/16
Government to address loopholes in corporate tax system to save over $100 million in 2013/14 and $4.2 billion over four years
SPENDING
$9.8 billion in new school funding
$64.6 billion on health funding including $14.3 billion for disability care funded by Medicare levy increase of 0.5 per cent
$3.7 billion on "Living Longer. Living Better" aged care package
$1 billion plan for Australian jobs, with $500 million to create Industry Innovation Precincts
$24 billion for new road and rail infrastructure
$6.2 billion over five years for disaster relief
Defence spending increase to $113 billion over four years
Funding for centenary of Anzac including $25 million for veterans' mental health services
Funding of $434.1 million over four years for the Royal Commission into Child Sexual Abuse
$75.3 million to reformed Australia Council to support the Arts
SAVINGS
Planned increase to family payments scrapped saving over $600 million.
Baby bonus abolished saving over $150 million.
Overseas development assistance target date deferred by a year to 2017/18