Baby bonus cut under significant budget compromise between Coalition and Labor

By Fergus Hunter, James Massola
Updated September 14 2016 - 9:08am, first published 9:04am
Deputy Prime Minister Barnaby Joyce, Treasurer Scott Morrison and Prime Minister Malcolm Turnbull. Photo: Alex Ellinghausen
Deputy Prime Minister Barnaby Joyce, Treasurer Scott Morrison and Prime Minister Malcolm Turnbull. Photo: Alex Ellinghausen
Minister for Finance Mathias Cormann, Prime Minister Malcolm Turnbull and Treasurer Scott Morrison announce the compromise on Tuesday. Photo: Alex Ellinghausen
Minister for Finance Mathias Cormann, Prime Minister Malcolm Turnbull and Treasurer Scott Morrison announce the compromise on Tuesday. Photo: Alex Ellinghausen
Shadow treasurer Chris Bowen, Opposition Leader Bill Shorten and opposition spokesman Jim Chalmers explain their support for the compromise savings bill on Tuesday. Photo: Alex Ellinghausen
Shadow treasurer Chris Bowen, Opposition Leader Bill Shorten and opposition spokesman Jim Chalmers explain their support for the compromise savings bill on Tuesday. Photo: Alex Ellinghausen

The Coalition and Labor have agreed to cut back a baby bonus payment worth $367 million as part of the deal to pass the $6.3 billion omnibus savings bill, which will also water down proposed cuts to renewable energy funding and preserve the clean energy supplement for "vulnerable" recipients.

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