Stronger Economy, More Jobs
A strong economy is the key to creating more jobs.
It is also the key to guaranteeing essential services and keeping Australians safe.
While there is global uncertainty, Australia’s economy is resilient:
- More than 1.3 million new jobs have been created since 2013.
- More than 100,000 new jobs were created for young Australians (aged 15-24) in 2017-18. This is the highest number of jobs in a financial year on record.
- Australia now has the lowest level of welfare dependency in 30 years.
- After a decade of Budget deficits, we will deliver a surplus this year. This means we can start to pay down Labor’s debt.
The benefits of fixing the Budget and ensuring a stronger economy include:
- Tax relief for over 10 million workers, starting this year.
- Tax relief for 3.4 million small businesses employing over 7 million Australians.
- An extra $37 billion in funding for schools over the next decade. This means an average funding increase of 62% per student.
- A new hospital agreement delivering $31 billion more funding for hospitals over five years.
- More than 2,000 new life-changing medicine listings worth $10.6 billion added to the Pharmaceutical Benefits Scheme.
- A record $100 billion investment in major highway upgrades, congestion busting roads and rail, Inland Rail, commuter car parking and the Western Sydney Airport.
- Record investment in Defence and national security.
A stronger economy means we can deliver on our plan to:
- Create 1.25 million jobs over the next five years.
- Maintain budget surpluses and pay down Labor’s debt.
- Deliver tax relief for families and small businesses.
- Guarantee increased investments for schools, hospitals and roads.
- Keep Australians safe and our borders secure.