April 3 (Reuters) - Fitch:
* FITCH SAYS AUSTRALIA BUDGET PRESERVES CONSOLIDATION DESPITE TAX CUTS
* FITCH SAYS A CREDIBLE, CROSS-PARTY COMMITMENT TO PRUDENT FISCAL MANAGEMENT IS A SUPPORTING FACTOR FOR AUSTRALIA'S 'AAA' SOVEREIGN RATING.
* FITCH ON AUSTRALIA- EXPECTS ECONOMIC SLOWDOWN EVIDENT SINCE MID-2018 TO START TO WEIGH ON LABOUR MARKET,PUSHING UNEMPLOYMENT RATE UP TO 5.3% OVER 2019
* FITCH SAYS ANTICIPATE LOWER REVENUE, NARROWER SURPLUS RELATIVE TO AUSTRALIA' S BUDGET BASED ON ITS FORECASTS OF SLIGHTLY LOWER GDP GROWTH, WEAKER WAGE GROWTH
* FITCH ON AUSTRALIA SAYS A SPECIFIC POLICY MIX COULD SHIFT IN EVENT OF A LABOR VICTORY IN APPROACHING FEDERAL ELECTIONS
* FITCH ON AUSTRALIA SAYS INCOME TAX CUTS PROPOSED IN BUDGET WOULD MAKE FISCAL TRAJECTORY EVEN MORE SENSITIVE TO COMMODITY PRICES, GDP AND WAGE GROWTH
* FITCH ON AUSTRALIA SAYS BUDGET OUTTURNS COULD BECOME MORE SENSITIVE TO DOMESTIC AND EXTERNAL RISKS