Students cop cuts, as rorts and zombie plans axed with more than $20 billion saved

Anthony Albanese on Labor's first budget in nine years 10 News First – Disclaimer

In its first budget on Tuesday, the federal government unveiled more than $20 billion in savings by gutting dozens of Coalition programs and trimming public service spending.

Tens of thousands of students, meanwhile, will miss out on university fee discounts worth $36 million a year as Labor slashes spending across the federal budget to fund its election promises.