Key points in the economy

KEY ECONOMIC POINTS

COALITION

* Unemployment rate steady at five per cent for next few years.

* Tax rates for individuals and small and medium-sized business being lowered.

* Downward pressure on electricity and gas prices.

* $100 billion, 10-year infrastructure plan.

* Industry policy covers breadth of the economy, beyond mining, tourism and agriculture to services, the defence industry, medical industry, and science and technology.

* Trade strategy to secure more bilateral and multi-lateral agreements, especially in the Asian region.

* Cuts to red tape, saving about $6 billion.

* Budget on track for surplus in 2019/20 - first in 12 years.

* GST carve-up changes legislated.

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LABOR

* Proposes an Australian Investment Guarantee package to help drive business investment and create jobs.

* Budget surplus is more about strong global conditions than good management. But plan to deliver surpluses over the medium term.

* Overall annual tax take is up by more than $100 billion since 2013.

* Forecasts for investment growth, wages, consumption are down.

* Debt has doubled since coalition came to power in 2013.

* Government has failed to properly fund schools and hospitals, which Labor would prioritise.

* Tough decisions are made to find budget savings such as paring back negative gearing and capital gains tax concessions.

* Review of dole payment level.