"Last year when the country was in the grip of the pandemic and the economy was locked down, Master Builders in conjunction with the CFMEU, called for a.
The government says the economy is ready to roar . This is what Australia really makes of the $74.6 billion Budget. Jack Derwin The Morrison government may have laid out its election platform in Tuesday s Budget. (David Gray, Getty Images)
The Federal Budget released on Tuesday evening has been pored over by Australians, economists and lobby groups overnight.
Laying out $74.6 billion in new spending measures over five years, many see it as a big spending election Budget, aiming to appease as many voters as possible.
Here s what Australia makes of it.
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While the Federal Opposition won t deliver its counter-pitch until Thursday evening, industry groups, economists, and lobby groups are already weighing in with their two cents.
11 May 2021
“Builders and tradies will strongly back the Budget. It will boost the confidence of the industry that the recovery can continue to largely ride on the ute’s back,” Denita Wawn, CEO of Master Builders Australia said.
“This is not an accountant’s Budget it is a nation-builders. It’s a Budget for people that believe in this country’s future like the people who work in the nation’s 400,000 building and construction businesses,” she said.
“Governments usually struggle to successfully manage the transition of the economy back from life support to strong growth led by the private sector, but this Budget has the potential to succeed,” Denia Wawn said.
Switzer Daily
1. Pre-Budget leak: retirees to get super boost
It’s
pre-Budget leak time and the latest is about retirees getting a superannuation
boost. It’s one more sleep before Treasurer Josh Frydenberg reveals the Budget
for the 2021-22 and the news is self-funded retirees will be able to put more
into super by ending the work test that stopped those between 67 and 74
building up their super nest egg. This will also be a great vote-catcher for
the Government.
2. Crown Resorts share price set to rise
Expect
the share price of Crown Resorts to rise with its rival casino and hotel
Master Builders Australia
Owning your own home is the key to economic security. New Federal Government measures announced today will help thousands more people achieve this.
“Builders, tradies, single mums, first home buyers in communities around the country will back the Government in making home ownership a centre piece of the Budget,” Denita Wawn, CEO of Master Builders Australia said.
“Every $1 spent building new housing delivers $3 in benefits to the wider economy result so this undoubtledly good news for the whole community,” she said.
“Overcoming the deposit gap is the greatest barrier to home ownership and these measures will be life-changing for so many people,” Denita Wawn said.