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Federal budget 2021-22: Unpacking where money's being spent, and what it means for you

Big builds? You better believe it.
How do we pay for all this largesse? Thank the sugar hit from iron ore. Prices exceeded $US200 per tonne last week, driven by global demand and lower Brazilian output due to COVID-19. It’s hard to believe iron ore prices were “only” $US80/tonne in April 2020. Australia’s iron ore exports reached $AU116 billion in 2020, with Chinese imports exceeding 2019 totals, despite considerable bilateral trade friction.
Federal revenue growth from resources exports means budget repair should be more rapid. COVID-19 measures drove the 2020-21 budget into a $213 billion deficit, but strong minerals prices (despite coal’s fall) should improve the bottom line by $30 billion-plus. Moreover, Australians boosted household savings at a record rate in 2020, banking $130 billion, raising total deposits to more than $1.1 trillion. ....

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Federal budget 2021-22: Unpacking where the money's being spent – Monash Lens

How do we pay for all this largesse? Thank the sugar hit from iron ore. Prices exceeded $US200 per tonne last week, driven by global demand and lower Brazilian output due to COVID-19. It’s hard to believe iron ore prices were “only” $US80/tonne in April 2020. Australia’s iron ore exports reached $AU116 billion in 2020, with Chinese imports exceeding 2019 totals, despite considerable bilateral trade friction.
Federal revenue growth from resources exports means budget repair should be more rapid. COVID-19 measures drove the 2020-21 budget into a $213 billion deficit, but strong minerals prices (despite coal’s fall) should improve the bottom line by $30 billion-plus. Moreover, Australians boosted household savings at a record rate in 2020, banking $130 billion, raising total deposits to more than $1.1 trillion. ....

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Budget 2021: Tax and regulation overhaul to attract global talent

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An overhaul of employee share schemes and the tax treatment of foreign investors and financial service providers will be unveiled in Tuesday’s federal budget, as part of a package of measures designed to attract global talent to Australia.
The measures also seek to capitalise on the political unrest in Hong Kong, moves in the US and Britain to increases taxes on business, and Australia’s effective suppression of coronavirus.
They form the response to a review led by Peter Verwer, the former Property Council boss who was appointed in the midst of the pandemic last year as the Prime Minister’s Special Envoy for Global Business and Talent Attraction. ....

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UK immigration rules reversed for foreign suppliers

The Home Office recently reversed certain UK immigration rule changes to make it easier for international companies to fulfil their contractual obligations to their British customers. At the end of 2020, a surprise change to immigration rules in preparation for Brexit made it more difficult and expensive for EU suppliers to visit the UK to complete necessary work for British customers.
What about British citizens wishing to work on a short term basis in EU Countries? Many British citizens are now finding it difficult to fulfil short terms contracts in EU countries. Obtaining some sort of work visa for an EU Country may not be possible or may just be too expensive and time consuming to obtain. ....

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Op-ed: Boris Johnson has a pragmatic yet extraordinary plan for Britain's global role after Brexit

Op-ed: Boris Johnson has a pragmatic yet extraordinary plan for Britain's global role after Brexit
msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.

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