2013 Australian federal budget
The 2013 Australian federal budget for the Australian financial year ended 30 June 2014 was presented on 14 May 2013 by the Treasurer of Australia, Wayne Swan, the sixth federal budget presented by Swan. The 2013 budget estimated total revenue of A$387.7 billion and spending of A$398.3 billion, a deficit of A$18 billion, with a return to surplus expected in the 2015 Australian federal budget (FY 2015/16). Some of the measures in the budget had been announced by various Ministers before the budget.
| Submitted | 14 May 2013 |
|---|---|
| Submitted by | Gillard government |
| Submitted to | Parliament of Australia |
| Parliament | 43rd |
| Party | Australian Labor Party |
| Treasurer | Wayne Swan |
| Total revenue | $387.7 billion |
| Total expenditures | $398.3 billion |
| Deficit | $18 billion |
| Website | 2013–14 Commonwealth Budget |
| ‡Numbers in italics are projections.
‹ 2012 2014 › | |
According to Swan the budget was being impacted by both global economic uncertainty and the high Australian dollar. It features significant spending on disability services and a school improvement program based on the Gonski Report. In an unusual step the election year budget contains 10-year forward estimates for the school and disability programs in an attempt to ensure funding is available. To pay for DisabilityCare Australia the Medicare levy was increased from 1.5 to 2% of taxable income from 1 July 2014.
The budget was described as big spending but low taxing. It lacked any big surprises or so-called election sweeteners.