Overview of what this year’s Budget entails – and what it means for you.
Two-fifths of the deficit is cyclical, says the Treasury.
Optimistic forecasts show the economy growing and inflation coming down after the ‘temporary’ fuel price shock.
Finance Minister Nicola Willis says the change is expected to save the Government $209m over four years.
The Government has also clarified the R&D tax credits to make them more targeted.