A strong economy is the key to creating
It is also the key to guaranteeing essential services and keeping Australians safe.
While there is global uncertainty, Australia’s economy is resilient:
- More than 1.3 million new jobs have been created since 2013.
- More than 100,000 new jobs were created for young Australians (aged 15-24) in 2017-18. This is the highest number of jobs in a financial year on record.
- Australia now has the lowest level of welfare dependency in 30 years.
- After a decade of Budget deficits, we will deliver a surplus this year. This means we can start to pay down Labor’s debt.
- The benefits of fixing the Budget and ensuring a stronger economy include:
- Tax relief for over 10 million workers, starting this year.
- Tax relief for 3.4 million small businesses employing over 7 million Australians.
- An extra $37 billion in funding for schools over the next decade. This means an average funding increase of 62% per student.
- A new hospital agreement delivering $31 billion more funding for hospitals over five years.
- More than 2,000 new life-changing medicine listings worth $10.6 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.
A stronger economy means we can deliver on our plan to:
- Create 1.25 million jobs over the next five years.
- Maintain budget surpluses and pay down Labor’s debt.
- Deliver tax relief for families and small businesses.
- Guarantee increased investments for schools, hospitals and roads.
- Keep Australians safe and our borders secure.