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Volume 10, Number 8 Saturday, May 11, 2013
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Federal budget takes $17 billion hit Source ABC THE Gillard government will not go ahead with a family benefit boost that would have provided a maximum of $600 extra a year to eligible Australian families, as it signals that the budget faces a $17 billion shortfall in revenue this financial year. On Tuesday, 7 May, Finance Minister Penny Wong confirmed that the government was ‘’not in a position to proceed’’ with an increase to Family Tax Benefit Part A that was due to start on July 1. In last year’s budget, Labor pledged about $1.8 billion over four years to increase the rate of Family Tax Benefit Part A, as part of its package to spread ‘’the benefits of the mining boom’’. In a measure linked to the mining tax - that was never legislated more than 1.1 million families were to receive an increase to the maximum rate of FTB-A of $300 a year for those with one child and $600 a year for those with two or • Finance Minister Penny Wong says the government has to make ‘‘responsible decisions’’. more children. A promised increase to the base rate of year for families with one child and $200 a for around 460,000 families. Continued page 6 FTB–A would have seen an extra $100 a year for families with two or more children
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