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Australia’s Ruling Coalition Pledges Improved Budget in Costings

Josh Frydenberg in Brisbane on May 15.
Josh Frydenberg in Brisbane on May 15.Photographer: Asanka Ratnayake/Getty Images  

Australia’s ruling Liberal-National coalition said it will narrow the budget deficit by about A$1 billion ($700 million) via cuts to the bureaucracy as it announced costings for its election policies.

Treasurer Josh Frydenberg said Tuesday the government planned to increase an efficiency dividend for public service agencies to 2% from 1.5% over the next three years if re-elected on May 21. The measure will cover the costs of all the coalition’s election announcements while leaving the budget better off.