Growth, inflation and labour market all easing
Following the announcement, NAB’s panel of leading economists and industry healthcare experts have analysed the Governments’ much-anticipated 2013 Federal Budget, and here they share with Health View their breakdown of what it means for the healthcare sector.
Healthcare had a mixed budget night, with long term headline projects capturing the attention, along with some stings in the tail. Cancer care is the big winner, but health was also a key area of savings through changes to Medicare.
Disability Care Australia was a focus, with an accompanying increase in the Medicare Levy from July 2014 to fund it, but the scheme won’t be fully implemented until July 2019. Cancer treatment and research was a more immediate beneficiary, receiving $226 million ($190 million new funding).
Healthcare professionals funded under the Medicare Benefits Scheme were losers from the budget, with an eight month delay in indexation resulting in major savings in coming years.
Our team of leading economists, tax and superannuation experts will continue to unpack the Federal Budget 2013 to help you get your ducks in a row and understand what it means for you. Visit all the latest articles, fact sheets and video commentary – 2013 Federal Budget – Business Research and Insights.
For further analysis download the fact sheet.
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