General
The Federal Budget has benefited from Australia’s ‘world class’ defence against the coronavirus
Australia’s “world class” defence against the coronavirus has put the federal budget in a far better position than was expected six months ago.
Key points:
- Next week’s Federal Budget will show vastly improved finances
- The Budget deficit could be $31 billion smaller than estimated for 2020-21
- The economy remains under pressure, but it’s doing much better than anticipated
The federal government will release its Budget next week, on May 11.
It will show government revenues have increased dramatically in recent months as the labour market has recovered quickly, business profits have soared, and confident families have spent up a storm.
According to Deloitte Access Economics’ latest ‘Budget Monitor’, which has looked closely at the state of…
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