Budget 2017: What we know so far and what to expect

Just one day before the 2017 Federal Budget many of the winners and losers are already known.

Announcements and leaks to the media have identified some key areas where major announcements are is expected in the government’s annual financial blueprint.

Details of other issues – such as a possible response to Australia’s housing affordability crisis – are unknown.

Prime Minister Malcolm Turnbull has already announced the government will pump an extra $19billion into schools over the next decade as part of ‘Gonski 2.0.’

In other known spending measures, Sydney’s new airport has been confirmed and the Australian Federal Police are set to receive an extra $321million to step up the fight against terrorism.

But $2.8billion in cuts to university funding sparked protests last week, with students set to pay up to $3,600 more for a four-year university degree.

The budget will also see foreign buyers taxed up to $5,000 per property if they do not live in it as part of a ‘ghost house tax’.

Here is guide to what we know so far and what we can expect. 

READ MORE HERE: Budget 2017: What we know so far and what to expect | Daily Mail Online