http://news.bbc.co.uk/1/hi/business/4756151.stm
Australia unveils huge tax cuts
Mr Costello hopes the cuts will help cut unemployment further
The Australian government has unveiled wide-ranging tax cuts in a "middle income family friendly" budget.
The move takes advantage of an unexpected windfall for government finances from a minerals market boom.
Treasurer Peter Costello unveiled income tax cuts worth almost 37bn Australian dollars ($28.6bn; £15.3bn) - the biggest in the country since 2000.
Further measures proposed included raising spending on defence and tax changes to encourage retirement saving.
Mr Costello said the decision to cut income tax should help to reduce unemployment in the country, which is already at record lows.
"These changes... will provide more incentive for those outside the workforce to re-enter it and those in part-time work to take additional hours," he said.
Australia unveils huge tax cuts
Mr Costello hopes the cuts will help cut unemployment further
The Australian government has unveiled wide-ranging tax cuts in a "middle income family friendly" budget.
The move takes advantage of an unexpected windfall for government finances from a minerals market boom.
Treasurer Peter Costello unveiled income tax cuts worth almost 37bn Australian dollars ($28.6bn; £15.3bn) - the biggest in the country since 2000.
Further measures proposed included raising spending on defence and tax changes to encourage retirement saving.
Mr Costello said the decision to cut income tax should help to reduce unemployment in the country, which is already at record lows.
"These changes... will provide more incentive for those outside the workforce to re-enter it and those in part-time work to take additional hours," he said.
Comment