Australia plans major spending plus surplus in 3 years

It's a measure Tony Abbott was unable to lock in during his time as Prime Minister.

"That would be really excessive", he told Sky News noting there was already a lot of concern about the conduct of banks.

They say they're still none the wiser as to how the revenue figure was reached, how much each institution will pay, which parts of their businesses will be targeted or if it will apply to transactions with the reserve bank. "That they have certainty about policy", he told ABC radio.

"It was most encouraging that the Coalition government has set funding of the NDIS as a priority for the budget, after the years in which the high aspirations were never matched with funding from either the previous Labor government or the current coalition government", Professor Kendig said.

"The banks are in a position to support budget fix and we're asking them to do so".

Indeed, "reset" could be a theme song for this budget, although the government prefers "fairness, security, and opportunity".

Ordinary people will feel little sympathy for the major banks bearing extra impost, although some of the new levy on them, raising more than A$6 billion over the forward estimates, will likely flow through to customers.

Treasury officials were unable to answer key questions at a briefing today with banks in Sydney, according to Anna Bligh, CEO of the Australian Bankers' Association.

"Measures to offset may be asset or liability price adjustments but an intended review into competition in the banking system will make the task of recovering the cost of this levy incrementally more challenging".

Nevertheless, it will support the levy, shadow treasurer Chris Bowen confirmed.

Mr Turnbull the Medicare levy hike would offer comfort to the families of children with disabilities.

Crosby scores twice, Bonino has victor as Pens beat Caps
We're going to go there and see what we're made of. "When we get those chances, we bear down and those are key goals for us". Pittsburgh F Chris Kunitz passed Mario Lemieux for fifth place on the team's all-time postseason games played list with 108.

"If (the levy) is not passed on (to customers), you're stripping capital out of the banks when they have to be unquestionably strong", Murray said.

"We will no longer accept, as an excuse from repeat offenders, that the reason they could not meet their mutual obligation requirements was because they were drunk or drug-affected", Morrison said.

And the big element will be the 0.5 per cent increase in the Medicare levy to be paid by all singles earning $21,655 a year and above, and couples on $36,541, with additions for dependent children.

For average families, Budget night meant thousands of dollars and they were the people that kept John Howard in The Lodge for more than a decade.

"This is just, fair, responsible".

The Nick Xenophon Team, which holds three additional votes, is due to state its position later on Friday while the Greens, like Labor, have suggested the deficit levy should be left in place.

"And I believe Australians want us to fill that gap".

"To support growth we choose to invest in building Australia, rail by rail, runway by runway and road by road".

Labor seized on the more than $15 billion, one-year rise, in the cost of the tax cut in Parliament and hammered the government.

Shadow treasurer Chris Bowen said the opposition would take time to respond to the proposed increase.

On 4 May, in response to the Federal Government's decision to scrap the 457 visa program, Labor leader, Bill Shorten, swore to mandate a new "SMART" visa category if his party forms government.


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