Treasurer Joe Hockey
Treasurer Joe Hockey AAP Image/Daniel Munoz

Foreign aid cut as Joe Hockey faces budget blow-out

TREASURER Joe Hockey will slash foreign aid and reveal a massive blowout in this year's deficit when he hands down his mid-year budget update today.

The ABC's AM program understands the aid budget will be reduced to Howard-era levels and more than $3 billion will be cut over the next four years.

The cuts in today's Mid-Year Economic and Fiscal Outlook (MYEFO) come on top of a $7.6 billion cut to the aid budget in May.

Some of the money will be redirected to fund new spending decisions, such as a $630 million boost to national security and the deployment of troops to the Middle East.

This year's budget deficit, which was forecast to be $29.8 billion in May, is now set to exceed $40 billion as "global headwinds" continue to batter the Australian economy.

Read more at ABC News

 


Fun Day to help our farmers

Fun Day to help our farmers

Emerald World of Learning raised more than $2500 to help farmers.

Central Highlands remain dry

Central Highlands remain dry

No rain in sight for Central Highlands.

Impact on local health services

Impact on local health services

Provide feedback on local hospital and health services

Local Partners