The last two years have been tough for our country. There have been setbacks.
But Australia has overcome the biggest economic shock since the Great Depression.
Our recovery leads the world – stronger than the United States, the United Kingdom, Canada, France, Germany, Italy and Japan.
Unemployment is at 4%, the equal lowest in 48 years.
But there is more to do.
Tonight’s Budget outlines the next stage of our economic plan. It delivers:
Cost of living relief now.
A long-term economic plan that creates more jobs.
Record investments in essential services.
Stronger defence and national security.
Events abroad are pushing up the cost of living.
Our temporary, targeted and responsible cost of living package will help.
For the next six months, fuel excise will be cut in half, saving Australians 22 cents a litre.
A one-off $420 Cost of Living Tax Offset will help over 10 million low-and-middle income earners