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The federal budget will include $10 billion in funding for infrastructure projects to be spent over the next decade.
The funding aims to make roads safer, reduce travel times and support thousands of jobs.
The government has detailed where half the money will be spent, with the remainder to be announced in Tuesday night s budget.
Deputy Prime Minister Michael McCormack said the extra funding was a key plank of the government s plan to help Australia bounce back from the coronavirus pandemic. More money for infrastructure means more jobs, more local procurement and a better future for businesses across the country, Mr McCormack told reporters in Canberra.
Single parents who want to buy a home, school leavers and retirees who want to boost their superannuation accounts are set to be big winners from this year s federal Budget.
Treasurer Josh Frydenberg will deliver his second Budget speech in seven months at 7.30pm on Tuesday as he aims to rebuild an economy that was sent into recession by the coronavirus lockdowns.
Mr Frydenberg is already planning more big spending next financial year, with Deloitte predicting a Budget deficit of $87 billion, a figure well below this year s estimated $167 billion shortfall. We won t be undertaking any sharp pivots towards austerity. We want more people in jobs and in better paying jobs. This is what our fiscal strategy is designed to achieve, he said.
On Tuesday at 7.30pm Josh Frydenberg will hand down the federal budget
His focus is on supporting the economy to recover from Covid-19 pandemic
Treasurer also set to announce axing of threshold for employers to pay super
Means workers do not need to earn $450 a month before employers contribute
Worker on $400 a month is $450 better off within a year of change being made
Deputy Prime Minister Michael McCormack told
Today that the government is “banking on, of course, international travel being back to some sort of pre-COVID normality next year.”
“We’ll take the best advice from medical experts as we’ve done the whole way through.”
Mr McCormack said, “We want our planes bringing migrants. We want planes bringing tourists. We want planes bringing people who seek permanent residency to fill those 43,000 jobs that are going in regional Australia right now.”
This was the latest comment in the government’s inconsistent messaging regarding the opening of Australia’s borders. In a Facebook post on Sunday, Australia’s Prime Minister Scott Morrison said borders would be open only when it “is safe to do so” despite the media likening the country to “fortress Australia”.
Working parents, average income earners and Aussies with relatives in aged care are set to be big winners from Tuesday s federal budget.
Treasurer Josh Frydenberg will deliver his second budget speech in six months at 7.30pm on Tuesday as he aims to rebuild the economy after the coronavirus pandemic.
Mr Frydenberg has already promised more big spending next financial year, with Deloitte predicting a budget deficit of $87 billion, a figure well below this year s estimated $167 billion shortfall. We won t be undertaking any sharp pivots towards austerity. We want more people in jobs and in better paying jobs. This is what our fiscal strategy is designed to achieve, he said in a speech last week.