Tag: budget deficit

Balancing the books: The Australian government announced it will return the budget to a “modest” surplus by 2016 with the help of new taxes and cuts to foreign aid.

A new federal tobacco excise is set to hit Australian smokers’ hip-pockets to the tune of $1 per cigarette by 2016.

The Australian government is expected to announce a levy on the banks on Friday to insure them against a financial crisis, but there are fears that the cost will be passed on to consumers.

Queenslanders will each fork out an additional $181 as a result of the Newman Government’s second budget announcement yesterday, which is expected to earn the state an additional $1 billion in revenue over the next fiscal year.