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.
Shane Stone to lead new National Recovery and Resilience Agency
By
Shannon Jenkins
Wednesday May 5, 2021
Scott Morrisson and Shane Stone in 2019. (AAP Image/Lukas Coch)
The government will establish a National Recovery and Resilience Agency and an Australian Climate Service to help Australia better prepare for natural disasters and adapt to the changing climate.
Former Northern Territory chief minister Shane Stone has been appointed as coordinator-general of the agency, which will combine the former National Drought and North Queensland Flood Response and Recovery Agency and the National Bushfire Recovery Agency.
The creation of the agency was recommended by the bushfire royal commission.
The government has rolled out more than $1.2 billion on three separate measures, including $600 million to establish an agency to co-ordinate disaster relief.