The big-ticket items in this year’s budget 11 May 2021
Treasurer Josh Frydenberg has declared a raft of measures, aimed at keeping Australia’s economy on track post-COVID.
The 2020/21 federal budget has defined Australia’s recovery from the COVID crisis as its main priority, with the government’s plan being to create jobs, provide targeted support to businesses and suppress the spread of the virus through the roll-out of the vaccine.
The government is aiming to have a population-wide vaccination program to be in place by the end of the year, with all Australians to receive their two doses by December, but international borders and tourism are not expected to reopen until 2022.
Labor has accused the Morrison government of using the federal budget as a shameless political fix without a proper job creation plan.
While Treasurer Josh Frydenberg made employment the centrepiece of his third budget on Tuesday, the federal opposition believe he missed an opportunity.
Shadow treasurer Jim Chalmers said the government had delivered another marketing exercise that failed to address key issues. It is a shameless political fix, rather than the genuine reform needed to make Australia s economy stronger, broader and more sustainable, he said.
Shadow treasurer Jim Chalmers said the government had delivered another marketing exercise that failed to address key issues
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Treasurer Josh Frydenberg has handed down the 2021-2022 Australian Federal Budget tonight. And you can read the speech in full right here.
And if you’re interested in delving into the entire Budget yourself, you can find it here.
2021 Budget Speech
Australia is coming back.
Doctors and nurses on the front line.
Teachers and students in the virtual classroom.
Businesses, big and small, keeping the economy moving.
‘Team Australia’ at its best.
A nation to be proud of.
We have come so far since the height of the pandemic.
Treasury feared unemployment could reach 15 per cent and the economy contract by more than 20 per cent.
Australia is coming back.
Doctors and nurses on the front line.
Teachers and students in the virtual classroom.
Businesses, big and small, keeping the economy moving.
‘Team Australia’ at its best.
A nation to be proud of.
We have come so far since the height of the pandemic.
Treasurer Josh Frydenberg announced the Federal Budget 2021 speech on Tuesday May 11
Treasury feared unemployment could reach 15 per cent and the economy contract by more than 20 per cent.
This would have meant 2 million Australians unemployed.
It would have been the equivalent of losing the agriculture, construction, and mining sectors.
Mr. Speaker, today the reality is very different.
What’s in the budget 2021-22?
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The federal budget for 2021-22 has been handed down, outlining a range of steps to support home ownership and help small businesses recover from the coronavirus pandemic.
Federal Treasurer Josh Frydenberg has presented tax cuts for more than 10 million people (which will reportedly see low- and middle-income earners benefit by up to $1,080 for individuals or $2,160 for couples) “to put more money in their pockets to spend in small businesses across the country helping to create jobs”, and new spending initiatives, including those to support home buying and small businesses, in the 2021-22 budget.