Federal budget 2017: Winners and losers
09 May 2017
The National Disability Insurance Scheme has been fully funded.
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.
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/