* Forecast cash surplus of $21.7 billion.

* Cost ‘savings’ of $33 billion over four years.

* $41 billion invested in three new future funds to pay for infrastructure, education and health.

* Income tax cuts totalling $47 billion.

* Medicare levy surcharge threshold up from $50,000 to $100,000 for singles, from $100,000 to $150,000 for couples.

* Family tax benefit to be means-tested.

* Baby bonus to rise to $5000 from July 2008, to be means-tested from January 2009.

* Child care tax rebate to rise from 30 per cent to 50 per cent, to be paid quarterly.

* Fringe benefits tax crackdown.

* Tax rates increased on luxury cars.

* Labor’s ‘education revolution’ to cost an extra $5.9

billion over five years.

* 50 per cent tax refund on education expenses for school students.

* $2.2 billion housing affordability package.

* Extra $3.2 billion over five years for public health.

* $2.3 billion over five years to cut greenhouse gas emissions.