Building future prosperity
This Budget takes ambitious steps to boost annual GDP by one percentage point through a package of measures focused on investment in infrastructure, increased participation, higher education reform, funding innovation and enhancing competition
This Budget takes significant steps to boost growth and secure the future living standards of all Australians through a major growth package that targets infrastructure, higher education, innovation, fostering a work culture and competition.
This growth package supports Australia's leadership of the G20 global growth agenda.
Infrastructure
The Government has committed an additional $11.6 billion to transport infrastructure spending through the Infrastructure Growth Package. This takes investment from all levels of government and the private sector to over $125 billion to 2019-20.
Higher education
The Higher Education Reform package will improve the flexibility, competitiveness and responsiveness of the sector. Students will benefit from access to a wider range of providers and continued access to HELP loans.
Innovation and research
In addition to the higher education reforms, the Government is providing funding to innovation and research, including $150 million for the funding of critical research infrastructure.
Fostering a work culture
The Government will encourage workforce participation through assisting young Australians to earn or learn or Work for the Dole, and the new Restart programme to assist Australians aged 50 and over back into work.
A competitive Australia
A root and branch review of our competition laws is due to report by March 2015. The findings of the review, along with new free trade agreements with Japan and Korea and refocusing support for industry and exporters, will deliver more competitive markets.
