ANALYSIS

May 9 2017

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Federal budget 2017 at a glance: how it affects you and Canberra

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Full federal budget coverage

ECONOMY

moderate economic growth: 2.75% above inflation, up from 1.75% this year
sluggish jobs growth: 1.5%, up from 1%
wages growth (2.5%) slightly higher than inflation (2.5%)
2017-18 deficit of $29.4 billion; return to surplus in four years

Scott Morrison delivers the 2017 Federal Budget

Winners and losers from the 2017 federal ...

Winners and losers from the 2017 federal budget

A look at the winners and losers from the 2017 federal budget handed down by Treasurer Scott Morrison on Tuesday May 9, 2017. (AAP Video)

'Davos' of women comes to Sydney

Sydney has won a global bid to host the 'Davos of women' after it was backed by leading business and political leaders. Video provided.

ASX winners and losers - a snapshot

The stand out listings traded on the ASX captured at key moments through the day, as indicated by the time stamp in the video.

China's 'One Belt, One Road' propaganda

Children from different nations team up for a song and dance promoting China's transcontinental trade and infrastructure initiative.

Netmarble's trading debut

Netmarble Games will raise as much as $US2.3 billion after pricing its IPO at the top of its targeted range, amassing funds to get into new markets and titles.

Qantas discovers that loyalty pays off

Qantas' frequent-flyer business, earmarked for sale at least twice, has delivered consistent growth since the airline's historic loss in 2012.

So what's better than the bank tax?

Before branding it outrageous, tell us what immediate revenue raising would be better, fairer and possible? Michael Pascoe comments.

Snap misses forecasts for new users and sales

Snap misses forecasts for new users and ...

Snap misses forecasts for new users and sales

Snap Inc.'s Snapchat app added fewer users than projected in the first quarter, a sign that the young company may have trouble expanding its audience as Facebook Inc. copies its most popular features.

Winners and losers from the 2017 federal budget

A look at the winners and losers from the 2017 federal budget handed down by Treasurer Scott Morrison on Tuesday May 9, 2017. (AAP Video)

HEALTH

Medicare levy to increase 0.5% in two years' time to fund national disability insurance scheme
$1 billion to "unfreeze" Medicare rebate payments from July 1, to ease doctors' fee hikes
extra $1.2 billion to put more drugs on Pharmaceutical Benefits Scheme, while saving $1.8 billion on price of other medicines

EDUCATION

new schools funding plan confirmed, costing extra $18.6 billion over 10 years
uni students to pay 7.5% more for a degree
universities to cop a 2.5% efficiency dividend in 2018 and 2019

HOUSING

new body to provide long-term, low-cost loans to build affordable rental housing
tax cut on first-home deposit savings; first-home buyers able to salary-sacrifice into super for a deposit
home owners over 65 who downsize can add $300,000 into super from sale of their home

PUBLIC SERVICE

no significant change in size of civilian government workforce
centralisation back in vogue: new "hubs" to provide IT, HR and finance services to agencies
$500 million modernisation fund to make better use of data, train staff and improve offices

DEFENCE

Defence spending to hit 2% of GDP by 2020-21, three years ahead of schedule
more jobs for civilians (extra 620 full-time-equivelant) and military personnel (318) this coming year
clampdown on waste to hit private sector and defence travel budget

CANBERRA

renovations and upgrades for most of Canberra's national institutions
$5 million to investigate new exhibition space for War Memorial
possibility of accessing funds for high-speed, intercity rail

NATIONAL INFRASTRUCTURE

construction of Melbourne-to-Brisbane inland rail to begin this year
funds to build an airport in western Sydney
Commonwealth moves to take control of Snowy Hydro

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