Federal Budget 2017-18: What it means for you and your family

Updated May 9 2017 - 10:04pm, first published 7:00pm
BUDGET 2017: What it means for you and your family
BUDGET 2017: What it means for you and your family

ECONOMY

  • Deficit of $29.4 billion in 2017/18 but projected surplus of $7.4 billion in 2020-21
  • Increased Medicare levy adding $8.2 billion to the bottom line for three years 
  • Wage growth expected to increase from 2 per cent to more than 3 per cent over the next four years
  • Up to $13 billion of "zombie" 2014-era cuts to education and welfare will be dumped to shore up AAA credit rating

The ecomonic outlook does looks brighter and projections for the deficit are encouraging but significant risks remain 

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