Budget at a glance

The Treasurer handed down Budget 2018-19 on 8 May 2018.

Through fiscal management and improved receipts from stronger economic growth, the budget position is improving.

This Budget is providing tax relief to encourage and reward hardworking Australians through a seven‑year tax plan to make personal income tax in Australia lower, fairer and simpler.

The Government is continuing to back businesses to invest and create more jobs, remain competitive and encourage innovative thinking for the future.

The Government’s $75 billion 10‑year national infrastructure plan will benefit people and businesses in every State and Territory by improving road safety, tackling congestion and delivering essential rail links.

The Government is supporting Australians to develop the skills they need in a smarter economy by investing in research, science and technology jobs and maintaining our reputation as a global industry leader in medical research.

Economic potential in regional Australia is continuing to be unlocked

The Government is backing farmers, needs‑based schools funding will achieve better results for Australian students, more support will help prepare Australians for a longer life, Medicare is continuing to be guaranteed and more new, cost‑effective medicines are being listed on the PBS. 

The Government is providing these essential services without borrowing to pay for them. Read the full overview at https://budget.gov.au/2018-19/content/overview.html

Source budget.gov.au