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Federal budget 2017: Winners and losers

ABC  |  09 May 2017  |  Economics

 

WINNERS:

The National Disability Insurance Scheme has been fully funded.

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The fund to pay for it will be topped up with additional money generated from the increase in the Medicare Levy.

Over the forward estimates, $9.1 billion will be paid into the special account.

LOSERS: 

The big banks aren't going to be happy. They're getting whacked on a number of fronts as the Treasurer works to level the playing field.

The biggest is a 0.06 per cent levy — essentially a new tax — that will kick in on July 1.

It'll only affect the five biggest banks — the Commonwealth Bank, Westpac, National Australia Bank, ANZ and Macquarie — and will boost the budget bottom line by $6.2 billion over the forward estimates.

Read More: http://www.abc.net.au/news/story-streams/federal-budget-2017/

 

 

 

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