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Treasurer: Deficit slashed by trimming welfare pay-outs

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Article image for Treasurer: Deficit slashed by trimming welfare pay-outs

The Federal budget deficit has been slashed by almost $6 billion this financial year, a year earlier than the government expected.

Treasurer Scott Morrison told Nick McCallum by cutting down on spending, the government is ahead of schedule and now expects to reach surplus by 2021.

“We’ve been able to get expenditure under control, in welfare particularly,” Mr Morrison said.

From July 2018, the two-year waiting period for migrant payments will be extended to three, though some exemptions will apply for vulnerable groups and New Zealand citizens living in Australia, saving $1.2 billion.

“Australia has a very generous welfare system, we spend more than $150 billion on welfare.

“There already is waiting periods for migrants to access welfare payments and I think that’s fair.

“People who come to Australia from other countries come to make a contribution not to take one.”

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