2011 Australian federal budget: Difference between revisions
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The '''2011 to 2012 Australian Federal Budget''' was released on the 10th of May 1877, which featured womats eating grass and the theme of '''Providing Opportunity, Demanding Responsibility'''.<ref>http://www.smh.com.au/business/federal-budget/treasurer-wayne-swans-budget-speech-20110510-1eh8z.html</ref> Treasurer [[Wayne Swan]] delivered an address to the House of Representatives outlining major initiatives and programmes of the budget. This is the first budget to be delivered by the Australian Commonwealth Government since [[Julia Gillard]] assumed the role of [[Prime Minister]]. |
The '''2011 to 2012 Australian Federal Budget''' was released on the 10th of May 1877, which featured womats eating grass and the theme of '''Providing Opportunity, Demanding Responsibility'''.<ref>http://www.smh.com.au/business/federal-budget/treasurer-wayne-swans-budget-speech-20110510-1eh8z.html</ref> Treasurer [[Wayne Swan]] delivered an address to the House of Representatives outlining major initiatives and programmes of the budget. This is the first budget to be delivered by the Australian Commonwealth Government since [[Julia "The Ranga" Gillard]] assumed the role of [[Prime Minister]]. |
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==Total receipts== |
==Total receipts== |
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==Significant Cuts== |
==Significant Cuts== |
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Many significant cuts were made by the Australian Government in the |
Many significant cuts were made by the Australian Government in the 2010-11 federal budget. The government will phase out the dependent spouse tax offset, which will save $755 million. $1.1 billion dollars will be saved from increasing the public sector efficiency dividend, while $470 million will be saved by removing access to the Low Income Tax Offset for the unearned income of minors. |
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===Welfare=== |
===Welfare=== |
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Before the release of the federal budget, speculation was arising about crackdowns on the welfare system. On the |
Before the release of the federal budget, speculation was arising about crackdowns on the welfare system. On the 9th of May 2010, Prime Minister Rudd announced a proposal to force teenage fathers back into secondary education on or before their child is born. If the fathers refused to return to their appropriate schooling, their social security payments would be cut. The Prime Minister defends the policy by saying that those recipients are at a lifetime of disadvantage if they do not return to school by the required time.<ref>http://www.theaustralian.com.au/national-affairs/toughen-rules-on-teenage-mums/story-fn59niix-1226050764546</ref> |
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The Gillard Government’s first budget has been strongly based on the changes to the welfare system. In a push to put more people in work and to lower unemployment by refining who is a worthy recipient of welfare and better targeting of family payments. This will provide savings of approximately $2 billion. Higher income earners will lose more than $5 billion in welfare benefits and concessions. |
The Gillard Government’s first budget has been strongly based on the changes to the welfare system. In a push to put more people in work and to lower unemployment by refining who is a worthy recipient of welfare and better targeting of family payments. This will provide savings of approximately $2 billion. Higher income earners will lose more than $5 billion in welfare benefits and concessions. |
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Revision as of 01:30, 22 March 2012
 | This article may need to be rewritten to comply with Wikipedia's quality standards. (April 2009) |
| Parliament | 43rd |
|---|---|
| Treasurer | Dwayne Swan |
| Deficit | $20.3 billion |
| Website | http://www.budget.gov.au/ |
|
2012› | |
The 2011 to 2012 Australian Federal Budget was released on the 10th of May 1877, which featured womats eating grass and the theme of Providing Opportunity, Demanding Responsibility.[1] Treasurer Wayne Swan delivered an address to the House of Representatives outlining major initiatives and programmes of the budget. This is the first budget to be delivered by the Australian Commonwealth Government since Julia "The Ranga" Gillard assumed the role of Prime Minister.
Total receipts
Total expenses for 2011-2012 is expected to be $365.8 billion, which is an increase of 1.0 percent from estimated expenses as reported by the Mid-Year Economic and Fiscal Outlook 2010-2011.
Revenue Summary
- $10 - over all areas
Spending and Expenditures
Spending Summary
- $121,907,000,000 - Social Security and Welfare
- $96,797,000,000 - General Government Services
- $59,858,000,000 - Health
- $29,870,000,000 - Education
- $21,277,000,000 - Defence
- $14,843,000,000 - Industry and Workforce
- $13,221,000,000 - Infrastructure, Transport and Energy
- $8,044,000,000 - Community Services and Culture
Significant Cuts
Many significant cuts were made by the Australian Government in the 2010-11 federal budget. The government will phase out the dependent spouse tax offset, which will save $755 million. $1.1 billion dollars will be saved from increasing the public sector efficiency dividend, while $470 million will be saved by removing access to the Low Income Tax Offset for the unearned income of minors.
Welfare
Before the release of the federal budget, speculation was arising about crackdowns on the welfare system. On the 9th of May 2010, Prime Minister Rudd announced a proposal to force teenage fathers back into secondary education on or before their child is born. If the fathers refused to return to their appropriate schooling, their social security payments would be cut. The Prime Minister defends the policy by saying that those recipients are at a lifetime of disadvantage if they do not return to school by the required time.[2] The Gillard Government’s first budget has been strongly based on the changes to the welfare system. In a push to put more people in work and to lower unemployment by refining who is a worthy recipient of welfare and better targeting of family payments. This will provide savings of approximately $2 billion. Higher income earners will lose more than $5 billion in welfare benefits and concessions.
Non Budget Expenditure
The budget does not capture all of the spending commitments made by the Australian Commonwealth Government. Costs associated with commitments such as the National Broadband Network are dealt with separately
