Treasurer’s National Press Club Address 11 May 2005

Underlying cash balance

Budget balances in OECD and Australia

Net debt and net interest payments

$5.7 billion of interest savings Hospitals & schools Assistance to families with children Assistance to families with children Hospitals & schools Public debt interest Public debt interest $billion

Future Fund

Unemployment rate

Inflation

Tax scale Income range ($) Tax rate % 0 – 6,0000 6,001 – 21, ,601 – 58, ,001 – 70, , Tax scale Income range ($) Tax rate % 0 – 6,0000 6,001 – 21, ,601 – 63, ,001 – 95, , Tax scale Income range ($) Tax rate % 0 – 6,0000 6,001 – 21, ,601 – 70, ,001 – 125, , Personal income tax scales

Tax savings by income level

Increasing Australia’s international competitiveness Slovak Rep Denmark Ireland BelgiumHungary Luxembourg Australia NZ Iceland Netherlands Germany UK Sweden Mexico Czech Rep Finland Australia Greece Canada Austria Norway Spain Italy France Poland Switzerland Korea Japan Portugal USA Turkey Australia (1 July 2006) Australia (now) Top threshold, multiple of the average production wage (bars)Top rate, per cent (dots) Top rate Top threshold

Personal tax cuts over time Income ($'000) TNTS tax cuts tax cuts tax cuts tax cuts tax cuts Per cent reduction

Income support recipients

Elements of Welfare to Work reform

Spending to help people into work

Child care places