Mid Year Economic and Fiscal Outlook

The Treasurer gave his MYEFO today. He reckons that the budget will be back in surplus by 2020/21.

This financial year's deficit will be $5.8 Billion less than forecast (still $23 Billion)

Students to start repaying student loans when their income reaches $45000 ($10000 less than the current threshold)

MYEFO also has a two-year freeze on the Commonwealth Grants Scheme to universities and a cap on funding for student places.

Migrants will have to wait three years before they are eligible to receive any welfare payments (currently two years)

Company and personal income tax cuts are still on the cards.

There you go...