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Digital fitness helps Kmart Australia, PAS Group through the pandemic
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Growth alone wonât fix budget
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Savings similar to levels last seen in Tony Abbott and Joe Hockeyâs politically toxic 2014 budget are needed to balance the books despite an expected $98 billion improvement to the bottomline, according to Deloitte Access Economics.
This monthâs budget is expected to show major improvements to Australiaâs finances, but large deficits are still expected to be forecast over the medium term, including $167 billion in 2020-21 and $87 billion in 2021-22.
Treasurer Josh Frydenberg said the Morrison government remains committed to its stage three tax cuts.Â
Alex Ellinghausen
Deloitte Access Economics director Chris Richardson estimated annual savings of about $40 billion would eventually need to be found, but stressed the task of budget repair should not begin too soon.
The Federal Budget has benefited from Australia s world class defence against the coronavirus
ABC Business 2/05/2021 By business reporter Gareth Hutchens © Provided by ABC Business The federal budget s bottom line has improved by billions of dollars as the economy has recovered faster than expected. (ABC)
Australia s world class defence against the coronavirus has put the federal budget in a far better position than was expected six months ago.
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.
âNo guaranteeâ international travel will follow vaccine In a fresh blow to overseas travel hopes, the health minster has warned even if every Aussie is vaccinated it doesnât mean borders will reopen.
Travel by Ally Foster 14th Apr 2021 12:23 PM Health Minister Greg Hunt has dampened international travel hopes even further, claiming even after the whole country is vaccinated against COVID-19 there is no guarantee borders will reopen. With Australia s vaccine rollout being pushed even further behind schedule due to AstraZeneca now only being recommended for people older than 50, there have been growing concerns about what it means for international travel.
No guarantee international travel will follow vaccine
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