Budget overview
This Budget is the next stage in the Government's economic plan, building on commitments from the 2016-17 Budget and the 2016 election.
Appendix D
Major savings
This table summarises the major savings in the 2017-18 Budget and their impact on the fiscal balance. More comprehensive information is provided in Budget Paper No. 2, Budget Measures 2017-18
| 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | Total | |
|---|---|---|---|---|---|---|
| $m | $m | $m | $m | $m | $m | |
| Higher Education Reform – a more sustainable higher education sector | 30.7 | 321.7 | 764.0 | 1,153.9 | 1,485.9 | 3,756.1 |
| Funding the Jobs for Families Package | -0.4 | 241.0 | 572.2 | 572.2 | 570.7 | 1,955.6 |
| Improving Access to Medicines – cheaper medicines | 0.0 | 24.7 | 364.5 | 427.1 | 476.0 | 1,292.2 |
| Better Targeting of Assistance to Support JobSeekers | -4.1 | 4.0 | 185.0 | 215.9 | 231.3 | 632.0 |
| Consistent Income Treatment for Families Receiving Family Tax Benefit Part A | -0.3 | -7.1 | 122.9 | 147.5 | 152.3 | 415.4 |
| Department of Defence – efficiencies | 0.0 | 69.8 | 72.3 | 76.3 | 85.7 | 304.1 |
| Maintaining the Level of Official Development Assistance | 0.0 | 0.0 | 0.0 | 100.3 | 203.0 | 303.3 |
| Family Day Care – further improving integrity | 58.2 | 193.2 | 0.0 | 0.0 | 0.0 | 251.5 |
| Better Alignment of Student Payments | -1.4 | 20.0 | 51.6 | 54.0 | 57.0 | 181.2 |
| Department of Veterans’ Affairs – Improved Health Care Arrangements | 2.5 | 26.7 | 36.8 | 47.9 | 57.2 | 171.0 |
| Liquid Assets Waiting Period – increasing self-reliance | 0.0 | -0.3 | 32.5 | 51.0 | 55.3 | 138.5 |
| Jobs for Families Package – upper income threshold | 0.0 | 0.0 | 32.9 | 39.7 | 46.8 | 119.3 |
| Enhanced Residency Requirements for Pensioners | .. | -3.5 | 13.7 | 42.6 | 66.3 | 119.1 |
| Guaranteeing Medicare – Medicare Benefits Schedule – improved compliance | .. | -7.6 | 20.1 | 44.2 | 47.0 | 103.8 |
| Aligning the Pensioner Education Supplement and Education Entry Payment | -0.1 | 4.7 | 29.3 | 30.0 | 30.8 | 94.7 |
| Total | 85.1 | 887.3 | 2,297.7 | 3,002.4 | 3,565.2 | 9,837.7 |
All figures are in net fiscal impact terms.
Totals may not sum due to rounding.
.. Not zero but rounded to zero.