The 2014‑15 Budget is part of the Government’s Economic Action Strategy to repair the budget and build a strong and prosperous economy.
The substantial savings decisions in this Budget put Australia back on track to a sustainable and responsible budget position, with surpluses projected to build to well over one per cent of GDP by 2024-25, taking into account future tax relief.
Debt in 2023‑24 is projected to be nearly $300 billion lower, even when assuming future tax relief, at $389 billion compared with the $667 billion at the 2013‑14 Mid-Year Economic and Fiscal Outlook.
Key Initiatives of the 2014‑15 Budget
http://www.budget.gov.au/2014-15/content/overview/html/overview_key_initiatives.htm