Federal budget 2014: At a glance

Economy

• Budget deficit: $29.8 billion in 2014-15 (to $2.8 billion in 2017-18)

• Unemployment forecast: 6.25% in 2014-15

• Economic growth: 2.5% in 2014-15

Education

• Complete deregulation of university fees

• Commonwealth funding extended to students at TAFEs, private colleges and sub-bachelor degrees at a cost of $820 million over three years

• Labor's 'Gonski' school funding commitments scrapped from 2017-18 with school funding indexed to inflation from 2018

• School chaplaincy program continued at a cost of $243.5 million over five years

Health

• All Australians to pay at least $7 for GP visits, blood tests and X-rays.

• General patients to pay $5 more and concessional patients 80¢ more for prescription drugs.

• Billions slashed from hospitals, which will be free to charge for emergency department

Retirees

• Age pension age to reach 70 by July 1, 2035

• Pension means test thresholds to be frozen for 3 years

• Tougher income test for self funded retirees to receive Commonwealth Seniors Health Card

Welfare

• Enforced six month waiting period for under-30s signing on for the dole. After first six months on dole they will again be cut off for a six month period

• Tightened eligibility criteria for disability support pensioners under 35

• Newstart recipients aged between 22 and 25 will be pushed back onto the lower-value Youth Allowance (other) payment

Public service

• 16,500 full-time jobs gone in three years

• Tax Office suffers biggest hit; Department of Human Services one of few winners

• Razor gang to target the bureaucracy's spin doctors

Environment

• $2.55 billion over 10 years for the Emissions Reduction Fund

• At least $2 billion in cuts to programs and scrapping of environmental agencies

• $525 million for a “green army”, $40 million over four years for the Great Barrier Reef, and $2.1 million for solar projects in local communities

Defence

• Total defence spending to rise, with fast-tracking of $1.5 billion for new hardware

• 1200 Defence bureaucrat jobs to go

• MH370 search to cost Defence nearly $28 million

Communications

• ABC-operated Australia Network to close, saving $198 million over four years

• Combined cuts to ABC and SBS of $43.5 million over four years

• $10 million for children's safety online including a "Children's e-Safety Commissioner"

• $100 million for mobile blackspot and wireless coverage in regional areas

Immigration

• Merging of Customs and Immigration will cost $480 million with 480 jobs lost

• Asylum seekers who have arrived by boat will lose the right to have their case independently reviewed or to have family reunions

• Stopping the boats will save $2.5 billion over five years

Foreign Affairs

• Foreign aid frozen at current levels for two years, helping save $7.6 billion over five years

• International commitment to spend 0.5 per cent of gross national income on foreign aid abandoned

• $400 million saved over four years by folding the former AusAID into the Foreign Affairs Department

Privatisation

• Four more government-owned businesses to be sold: Australian Hearing, Defence Housing Australia, the Royal Australian Mint, and the registry arm of the Australian Securities and Investments Commission

• Proceeds will be reinvested into the government's Asset Recycling Fund to help build new productive infrastructure

Indigenous affairs

• More than half a billion dollars saved over five years by rationalising indigenous services and transferring more than 150 programs into just five, run out of the PM's department

• More than $54 million for police infrastructure in remote communities

• More than $13 million for the Clontarf Foundation Academy's Sporting Chance program and more than $18 million to continue boosting school attendance in remote communities

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