Wayne Swan will tonight officially release the 2012-13 Federal Budget.

In a determined bid to return a surplus, some sectors are bracing for deep cuts but there’s expected to be some good news for low to middle income earners.

Emilie Gramenz reports.


The nation’s leading political journalists spent today in lock-up pouring over the 2012-13 Federal Budget.

The Government needs to win over voters and promising to ease financial pressure on families earning an average income.

To help pay for that they’re slashing the Defence budget and making some cuts to welfare to return a modest surplus of 1.5 billion.

Wayne Swan, Treasurer: “First and foremost this is a Labor budget. This budget is one I’m extremely proud of.”

With Labor set to deliver a surplus, Opposition Leader Tony Abbott claims it doesn’t add up.

Tony Abbott, Opposition Leader: “This is a cooked books surplus based on fiddled figures.”

With no formal announcement until later tonight, many people still aren’t sure what to expect from this year’s Budget. But some sectors already know what’s on the cards. Budget leaks suggest one of the biggest winners could be the aged care sector.

Aged Care Queensland is well aware of a pending boost in funding. The Government announced two weeks ago they would dedicate over $500 million to help the elderly.

Nick Ryan, CEO Aged Care Queensland: “Fundamentally what the reforms will do is they will enable older Australians to live at home for longer. We know most Australians prefer to recieve help in their own homes, whether it’s the home they’ve always lived in, or if it’s a smaller home they’ve moved to, a retirement home, some form of seniors housing, older Australians do seek at home care.”

Nick Ryan says some money has been redirected from residential care into community care.

Fast tracking the new National Disability Insurance Scheme will also mean more money for the aged care sector.

Nick Ryan, CEO Aged Care Qld: “We applaud the NDIS, we think it’s excellent. Of course, as those people, older Australians with a disability move into the aged care system, that funding will come with them.”

He says in the future demand for residential care will continue to rise, and more funding is always needed.

Either way it’s a make or break budget for the Gillard Government.

Emilie Gramenz, QUT News.