Australian budget will return to surplus by 2016, says Bowen
Balancing the books: The Australian government announced it will return the budget to a “modest” surplus by 2016 with the help of new taxes and cuts to foreign aid.
Tag: budget deficit
Government plans new tobacco tax to return budget to surplus
A new federal tobacco excise is set to hit Australian smokers’ hip-pockets to the tune of $1 per cigarette by 2016.
Banking insurance levy could be passed on to Australian depositors
The Australian government is expected to announce a levy on the banks on Friday to insure them against a financial crisis, but there are fears that the cost will be passed on to consumers.
Queensland rules out return to surplus in 2013 state budget
Queenslanders will each fork out an additional $181 as a result of the Newman Government’s second budget announcement yesterday, which is expected to earn the state an additional $1 billion in revenue over the next fiscal year.
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