KEY FORECASTS
Budget surplus - $7.1 billion
Economic growth - 2.75 per cent
Unemployment - 5.0 per cent
Inflation - 2.25 per cent
$158 billion in tax relief for those earning up to $126,000 a year
Tax rate drops to 30 per cent from July 2024 for those earning $45,000-$200,000
Instant asset write-off increased to $30,000 for businesses with turnover up to $50 million
Additional support to financial regulators in the wake of the Banking Royal Commission
80,000 new apprenticeships
Urban Congestion Fund increases four-fold to $4 billion
$2 billion for fast-rail between Melbourne and Geelong
$2.2 billion for safer roads
$1 billion to improve freight routes and access to ports
$300 billion for upgrades to libraries, classrooms and play equipment
Scholarship program for 1000 students to study in regional Australia
$453 million to extend pre-school education
$9 billion for science, research and technology
$400 million for genomics research to unlock the secrets of DNA
$80 billion for better access to life-changing equipment, services and medicines
$461 million for youth mental health and suicide prevention strategy
$528 million for a Royal Commission into the mistreatment of people with disability, including counselling and support
$160 million for research to improve the health of Indigenous Australians
$725 million for 10,000 new home care packages
One-off Energy Assistance Payment for pensioners of $75 for singles, $125 for couples
$84 million for carers to leave a loved one in safe hands and take a break
$328 million to fund prevention, response and recovery initiatives
$570 million for the Federal Police and ASIO
Additional $680 million to support service men and women deployed abroad
$3.5 billion Climate Solutions Package including emission reduction activities
$100 million Environment Restoration Fund
