Wayne Swan to announce billions in spending cuts

Wayne Swan to announce billions in spending cuts

The Federal Government is expected to announced around $4 billion of public spending cuts, when its hands down its mid-year budget forecast later today.

It’s believed part of the measures will see overseas workers, backpackers, and some migrants forced to pay more for visas.

Federal Treasurer Wayne Swan says the cuts are needed to offset a decline in revenue from weaker commodity prices over the last six months.

He says the cuts will be targeted and responsible, to ensure Labor can continue delivering education and disability reform, while still bringing the budget back to surplus on time.

About author

Libby Dreyer
Libby Dreyer 1729 posts

Libby has worked as a Senior Journalist at National Radio News since February 2011. She graduated with a Bachelor of Journalism from the University of Canberra in December 2010.

View all posts by this author →

You might also like

National 0 Comments

Holden blames Japan for job losses

Holden has blamed the currency problems in Japan for the the issues the car manufacturer is facing in Australia.

Highlight Stories

Women face poverty in retirement if changes aren’t made: ISA

A Senate Inquiry has been told that Australian women will continue to experience deep economic insecurity in retirement.

National

GDP figures show national economy grows 2.3%

Official figures released by the Australian Bureau of Statistics today show Australia’s national economy grew 2.3% in the first quarter of 2015.

National

Westpac CEO to retire from bank today

Westpac CEO Gail Kelly will complete her final day in the role today.

0 Comments

No Comments Yet!

You can be first to comment this post!