Turnbull Seeks $4.6 Billion in Budget Savings Via ‘Omnibus Bill’

  • Australia aims to rein in deficit, protect AAA credit rating
  • Prime Minister challenges Labor opposition to pass measures

Prime Minister Malcolm Turnbull will introduce an “Omnibus Bill” that bundles together savings proposals the opposition has indicated it will support, as he seeks to rein in Australia’s budget deficit and stave off rating agencies.

In extracts of a speech to be delivered Wednesday, Turnbull said the budget bottom line outlined by the Labor party during the election campaign relied on more than A$6 billion ($4.6 billion) of savings measures proposed by his government. He said he will test that commitment to balancing the budget by introducing the legislation after parliament resumes on Aug. 30…

Turnbull Seeks $4.6 Billion in Budget Savings Via ‘Omnibus Bill’

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