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Budget promises $158 billion in tax cuts, forecasts $7.1 billion surplus

Treasurer Josh Frydenberg has laid out a plan to deliver $158 billion in tax cuts for everyday Australians, $525 million to plug the skills gap and create jobs and $100 billion to improve transport infrastructure. It’s all part of a Budget that the Morrison Government says will result in a $7.1 billion surplus in 2019-20. Under the plan, the 32.5 per cent tax rate will be cut to 30 per cent, meaning 94 per cent of the tax-paying public – those who earn between $40,000 and $200,000 – will p