Is Wayne Swan's Medicare Levy Plan Constitutional?

I havn't seen any reporting on this as of yet, but I was struck by a line uttered in Wayne Swan's Budget Speech yesterday:
From 1 July 2014 the Medicare levy will increase by ½ a percentage point. The money raised will be placed in a special Fund for 10 years and only used for the additional costs of DisabilityCare Australia.

The Australian Constitution states:
81. All revenues or moneys raised or received by the Executive Government of the Commonwealth shall form one Consolidated Revenue Fund, to be appropriated for the purposes of the Commonwealth in the manner and subject to the charges and liabilities imposed by this Constitution

It seems to me that the money raised by hiking the Medicare Levy thus would have to go to Consolidated Revenue, and can not be placed into any sort of special fund whatsoever. Meaning Wayne Swan's plan is unconstitutional and can never take place...

 

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