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
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.
IAG today welcomed the Commonwealth's $600 million investment to be delivered by the new national agency to support local communities respond to natural.
Emergency Leaders for Climate Action
THE FEDERAL GOVERNMENT’S inaction on climate change undermines the role of its new National Recovery and Resilience Agency, according to former fire and emergency chiefs.
“While formation of the new agency is welcomed and is something we called for, the government is undermining disaster recovery and relief and community resilience efforts through its refusal to realistically tackle greenhouse gas emissions, the root cause of worsening extreme weather,” said Greg Mullins, former Commissioner of Fire & Rescue NSW and founder of Emergency Leaders for Climate Action.
“Investing heavily in adapting to worsening natural disasters without lifting a finger to reduce emissions and make them less likely is like trying to prevent a pot from boiling over by stirring it faster rather than turning off the heat,” said Mr Mullins.