Scott Morrison will call an election within days – as he makes a final budget ...

Scott Morrison will call an election within days – as he makes a final budget ...
Scott Morrison will call an election within days – as he makes a final budget ...

 BIG PICTURE

* Overall theme: 'A stronger economy and a secure future'

* Federal election is due in mid-May

* Better than expected surplus for 2019/20 (MYEFO: $4.1 billion in 2019/20)

* 3 per cent growth for 2019/20 (MYEFO forecast)

* 5 per cent unemployment rate for 2019/20 (MYEFO forecast)

* Migration cap to be reduced to 160,000 from 190,000

* 1.25 million new jobs to be created over the next five years

* Expectation of a 'stimulus' worth about $6 billion, adding about 0.4 percentage points to GDP

TAX

* Likely bring-forward of the July 2022 income tax cuts, on top of those already starting July 1 this year, as part of an already-legislated $144 billion plan

* Possible improvements to tax offsets for low-income earners

* Rules around $69 billion GST revenue distribution to the states have changed, with WA the main beneficiary

* Instant asset write-off extended to June 2020 and upped from $20,000 to $25,000. Allows small business with an annual turnover of less than $10 million to deduct the cost of assets such as cars and equipment

* Tax office and other agencies to crack down on welfare cheats and tax dodging

ROADS, RAIL

* $75 billion infrastructure plan over 10 years continues

* $2.2 billion road safety plan including black spot repair and new national office of road safety

* Business case for Melbourne airport rail link

* City deals for Adelaide, Hobart, Townsville, Launceston, Western Sydney, Darwin, Geelong, South East Queensland and Perth

* $730 million north Queensland roads plan

* $254 million for Sydney, NSW central coast 'congestion busting' road upgrades

* Extra $1.6 billion for WA roads and rail

* $100 million for regional airports

HEALTH

* Programs and policies bundled under a Long-Term National Health Plan

* $220 million from Medical Research Future Fund for research into heart disease

* $496 million for Victorian

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